Proposed Information Collection Request; Submitted for Public Comment and Recommendations; Prohibited Transaction Class Exemption 78- 6

DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

Proposed Information Collection Request; Submitted for Public

Comment and Recommendations; Prohibited Transaction Class Exemption 78-

6

ACTION: Notice.

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SUMMARY: The Department of Labor, as part of its continuing effort to

reduce paperwork and respondent burden, provides the general public and

Federal agencies with an opportunity to comment on proposed and/or

continuing collections of information in accordance with the Paperwork

Reduction Act of 1995 (PRA 95) 44 U.S.C. 3506(c)(2)(A). This program

helps to ensure that requested data can be provided in the desired

format, reporting burden (time and financial resources) is minimized,

collection instruments are clearly understood, and the impact of

collection requirements on respondents can be properly assessed.

Currently, the Pension and Welfare Benefits Administration is

soliciting comments concerning the proposed extension of a currently

approved collection of information, Prohibited Transaction Class

Exemption 78-6. A copy of the proposed information collection request

can be obtained by contacting the employee listed below in the contact

section of this notice.

DATES: Written comments must be submitted on or before June 2, 1997.

The Department of Labor is particularly interested in comments which:

Evaluate whether the proposed collection of information is

necessary for the proper performance of the functions of the agency,

including whether the information will have practical utility;

Evaluate the accuracy of the agency's estimate of the

burden of the proposed collection of information, including the

validity of the methodology and assumptions used;

Enhance the quality, utility, and clarify the information

to be collected; and

Minimize the burden of the collection of information on

those who are to respond, including through the use of appropriate

automated, electronic, mechanical, or other technological collection

techniques or other forms of information technology, e.g., permitting

electronic submissions of responses.

ADDRESSES: Gerald B. Lindrew, Department of Labor, Pension and Welfare

Benefits Administration, 200 Constitution Avenue, NW, Washington, D.C.

20210, (202) 219-7933, FAX (202) 219-4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Class Exemption 78-6 allows (a) purchase of

personal property by a multiple employer welfare benefit plan

maintained for the purpose of providing apprenticeship or other

training programs (hereinafter referred to as an apprenticeship plan)

from an employer who makes contributions to such plan (hereinafter

referred to as a contributing employer) or from a wholly-owned

subsidiary of such an employer, (b) the leasing of personal property by

an apprenticeship plan from a contributing employer or from a wholly

owned subsidiary of such an employer, and (c) the leasing of real

property (other than office space within the contemplation of section

408(b)(2) of the Employee Retirement Income Security Act of 1974 (the

Act)) by an apprenticeship plan from a contributing employer, a wholly

owned subsidiary of such an employer, or from an employee organization

any of whose members' work results in contributions being made to the

apprenticeship plan. In the absence of this exemption, certain aspects

of these transactions might be prohibited by sections 406(a)(1) (A),

(C) and (D) of the Act.

II. Current Actions

This existing collection of information should be continued because

without the relief provided by this exemption, such apprenticeship

plans would have difficulty operating in accordance with the purposes

for which they were established. The recordkeeping requirements

incorporated within the class exemption are intended to protect the

interests of plan participants and beneficiaries. The exemption has one

basic information collection condition. The exemption requires that

apprenticeship plans which enter into transactions covered by the

exemption must maintain the records of such transactions for a period

of six years from the termination of such transactions.

Type of Review: Extension.

Agency: Pension and Welfare Benefits Administration.

Title: Prohibited Transaction Class Exemption 78-6.

OMB Number: 1210-0080.

Recordkeeping: 6 years.

Affected Public: Business or other for-profit, Not-for-profit

institutions, Individuals.

Total Respondents: 1,000.

Frequency: On occasion.

Total Responses: 5,000

Average Time Per Response: 5 minutes

Estimated Total Burden Hours: 417

Total Burden Cost (capital/start-up): $0.00

Total Burden Cost (operating/maintenance): $0.00

Comments submitted in response to this notice will be summarized

and/or included in the request for Office of Management and Budget

approval of the information collection request; they will also become a

matter of public record.

Dated: March 26, 1997.

Gerald B. Lindrew,

Deputy Director, Pension and Welfare Benefits Administration, Office of

Policy and Research.

[FR Doc. 97-8195 Filed 3-31-97; 8:45 am]

BILLING CODE 4510-29-P