Notice2023-25910
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Registration Requirements To Serve as a Pooled Plan Provider to Pooled Employer Plans; Correction
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 24, 2023
Issuing agencies
Labor Department
Abstract
The Department of Labor (DOL) is correcting a notice that appeared in the Federal Register on October 17, 2023. DOL is correcting an error in the estimated burden hours, estimated number of respondents and the estimated number of responses. This is an Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.
Full Text
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<title>Federal Register, Volume 88 Issue 225 (Friday, November 24, 2023)</title>
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[Federal Register Volume 88, Number 225 (Friday, November 24, 2023)]
[Notices]
[Pages 82405-82406]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-25910]
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DEPARTMENT OF LABOR
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Registration Requirements To Serve as a Pooled
Plan Provider to Pooled Employer Plans; Correction
ACTION: Notice of availability; correction.
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SUMMARY: The Department of Labor (DOL) is correcting a notice that
appeared in the Federal Register on October 17, 2023. DOL is correcting
an error in the estimated burden hours, estimated number of respondents
and the estimated number of responses. This is an Employee Benefits
Security Administration (EBSA)-sponsored information collection request
(ICR) to the Office of Management and Budget (OMB) for review and
approval in accordance with the Paperwork Reduction Act of 1995 (PRA).
Public comments on the ICR are invited.
DATES: The OMB will consider all written comments that the agency
receives on or before December 26, 2023.
[[Page 82406]]
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
Comments are invited on: (1) whether the collection of information
is necessary for the proper performance of the functions of the
Department, including whether the information will have practical
utility; (2) the accuracy of the agency's estimates of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
FOR FURTHER INFORMATION CONTACT: Michael Howell by telephone at 202-
693-6782, or by email at <a href="/cdn-cgi/l/email-protection#52161d1e0d0200130d0207101e1b1112363d3e7c353d24"><span class="__cf_email__" data-cfemail="1652595a49464457494643545a5f555672797a38717960">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The Setting Every Community Up for
Retirement Enhancement Act of 2019 (the SECURE Act) was designed to
improve retirement coverage as well as the ability of individuals to
manage important retirement-related risks. Specifically, the Secure Act
requires Section 101 of the SECURE Act requires a ``pooled plan
provider'' to register with the Labor Department and the Treasury
Department before beginning operations as a pooled plan provider.
Specifically, Section 101 of the SECURE Act amends section 3(2) of the
Employee Retirement Income Security Act (ERISA) to eliminate the
commonality of interest requirement for establishing certain individual
account plans, or ``pooled employer plans,'' that meet specific
requirements. Among these requirements, plans must designate a ``pooled
plan provider'' to serve as a named fiduciary and as the plan
administrator. Further, section 101 of the SECURE Act requires pooled
plan providers to register with the Department of Labor (the
Department) and the Department of the Treasury (Treasury) before
beginning operations. The statute expressly provides a separate
authorization for the Department to require additional information. For
additional substantive information about this ICR, see the related
notice published in the Federal Register on February 8, 2023 (88 FR
8317).
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless the OMB approves it and displays a currently valid
OMB Control Number. In addition, notwithstanding any other provisions
of law, no person shall generally be subject to penalty for failing to
comply with a collection of information that does not display a valid
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
Agency: DOL-EBSA.
Title of Collection: Registration Requirements to Serve as a Pooled
Plan Provider to Pooled Employer Plans.
OMB Control Number: 1210-0164.
Affected Public: Businesses or other for-profits.
Total Estimated Number of Respondents: 142.
Total Estimated Number of Responses: 142.
Total Estimated Annual Time Burden: 71 hours.
Total Estimated Annual Other Costs Burden: $0.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2023-25910 Filed 11-22-23; 8:45 am]
BILLING CODE 4510-29-P
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