View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1210-0124
ICR Reference No:
200907-1210-007
Status:
Historical Active
Previous ICR Reference No:
200606-1210-005
Agency/Subagency:
DOL/EBSA
Agency Tracking No:
Title:
Acquisition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
08/31/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/30/2009
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2012
36 Months From Approved
08/31/2009
Responses
79,800
0
104,545
Time Burden (Hours)
3,990
0
4,733
Cost Burden (Dollars)
201,894
0
40,000
Abstract:
The class exemption permits individual account pension plans sponsored by Trust Real Estate Investment Trusts (REITs) or their affiliates to purchase, hold, and sell publicly trades shares of beneficial interest in the Trust REIT, subject to conditions.
Authorizing Statute(s):
US Code:
29 USC 1106
Name of Law: Employee Retirement Income Security Act of 1974
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
74 FR 17987
04/20/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 38044
07/30/2009
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Acqusition and Sale of Trust REIT Shares by Individual Account Plans Sponsored by Trust REITs
ICR Summary of Burden
Total Approved
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
79,800
104,545
0
0
-24,745
0
Annual Time Burden (Hours)
3,990
4,733
0
0
-743
0
Annual Cost Burden (Dollars)
201,894
40,000
0
0
161,894
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:
There have been no program changes in this exemption since the prior submission; however, the Department has updated estimates underlying the analysis. First, based on new information from National Association of Real Estate Investment Trusts (NAREIT), the number of affected Trusts has declined. Second, labor rates have increased. In addition, the Department has revised the material and postage estimates. The primary reason that the cost estimate is much higher than the previous submission is that the price of mailing the reports has changed. The average length of a quarterly report is about 35 pages, which means that the previous estimation of $0.42 per mailing was too low. Instead, the Department approximates that printing those 35 pages at $0.05 per page would cost $1.75, and that mailing a report would take cost approximately $0.78. Therefore the total cost of sending each report is estimated to be approximately $2.53, and, based on this factor, the total cost burden for the information has increased since the last submission from $158,085 to $305,894.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Christopher Cosby 202-693-8425 cosby.chris@dol.gov
Common Form ICR:
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:
(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:
07/30/2009
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