Employee Retirement Income Security Act of 1974 Technical Release 1991-1

Forms and Documents

Document Name	Status
30-day FRN (1210-0084) published.pdf Supplementary Document	2021-09-30
60-day FRN (1210-0084) published.pdf Supplementary Document	2021-09-27
1210-0084 SS ERISA Technical Release 91-1 9-22-21.docx Supporting Statement A	2021-09-22

IC Document Collections

IC ID	Document Title	Status
13402	ERISA Technical Release 91-1 Other-Technical Release 91-1	Modified

ICR Details

OMB Control No: 1210-0084	ICR Reference No: 202107-1210-003
Status: Received in OIRA	Previous ICR Reference No: 201805-1210-002
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Employee Retirement Income Security Act of 1974 Technical Release 1991-1
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/30/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2021
Responses	18,419	26,966
Time Burden (Hours)	623	422
Cost Burden (Dollars)	839	6,917

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Abstract: Employee Retirement Income Security Act of 1974 (ERISA) Technical Release 91-1 alerts the public to amendments to section 101(e) of ERISA that requires a plan to provide advanced notification to the Secretaries of Labor and the Treasury, as well as participants and beneficiaries, of an intended transfer of excess assets from a defined benefit plan to a retiree health account.

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Authorizing Statute(s): US Code: 29 USC 1021(e) Name of Law: Employee Retirement Income Security Act of 1974
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 16787	03/31/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 54246	09/30/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
ERISA Technical Release 91-1

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	18,419	26,966	0	0	-8,547	0
Annual Time Burden (Hours)	623	422	0	0	201	0
Annual Cost Burden (Dollars)	839	6,917	0	0	-6,078	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Department has revised its estimate, as compared to the 2018 submission, to reflect current experience regarding the frequency of asset transfers under section 101(e) of ERISA and section 420 of the Code. More recent data suggest a reduction in the number of such asset transfers. The resulting paperwork burden estimate presents a more accurate, up-to-date picture of the impact of this information collection. Wages, overhead and mailing costs have been updated for 2021. In addition, there was a change to EBSA’s assumption regarding electronic transmission of the disclosures for DC plans and IRAs. As a result of final Default Electronic Disclosure regulation issued by the Department on May 27, 2020 (85 Fed. Reg. 31884), EBSA has revised the electronic disclosure assumption from 56.4 to 92.7 percent.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/30/2021

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