Prohibited Transaction Class Exemptions for Multiple Employer Plans and Multiple Employer Apprenticeship Plans—PTE 1976-1, PTE 1977-10, PTE 1978-6

ICR 202203-1210-004

OMB: 1210-0058

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2022-04-25
ICR Details
1210-0058 202203-1210-004
Received in OIRA 201904-1210-001
DOL/EBSA
Prohibited Transaction Class Exemptions for Multiple Employer Plans and Multiple Employer Apprenticeship Plans—PTE 1976-1, PTE 1977-10, PTE 1978-6
Extension without change of a currently approved collection   No
Regular 04/28/2022
  Requested Previously Approved
36 Months From Approved 06/30/2022
3,409 3,483
815 871
0 0

PTE 76-1 permits multi employer employee benefit plans under specific conditions to negotiate with contributing employer to accept delinquent contributions and settle delinquencies; to make construction loans to contributing employers; and to lease property and purchase services and goods from parties in interest, including contributing employers and employee associations. PTE 77-10 expands the scope of relief provided under PTE 76-1 part C, for leasing property and purchasing goods and services. PTE 78-6 provides an exemption to multi employer apprenticeship plans for purchasing personal property or leasing real property from a contributing employer. All three exemptions impose recordkeeping requirements on plans as a condition to availability of the relief.

US Code: 29 USC 1108(a) Name of Law: Employee Retirement Income Security Act of 1974
   US Code: 29 USC 1106 Name of Law: Employee Retirement Income Security Act of 1974
   US Code: 29 USC 1107 Name of Law: Employee Retirement Income Security Act of 1974
  
None

Not associated with rulemaking

  86 FR 70866 12/13/2021
87 FR 25306 04/28/2022
No

  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 3,409 3,483 0 0 -74 0
Annual Time Burden (Hours) 815 871 0 0 -56 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There have been no program changes to the exemptions since the last submission. The estimates have been adjusted to reflect data from 2019 Form 5500 filings (the most current year available), which reflect fewer plans using the exemptions and therefore less associated burden. The burden estimate equivalent costs have also been updated to reflect an increase in labor costs. These updated data inputs decrease the number of responses by 74 responses and the burden hours by 56 hours compared with the prior submission.

$0
No
    No
    No
No
No
No
No
James Butikofer 202 693-8434 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
04/28/2022


© 2024 OMB.report | Privacy Policy