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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:
ICR Reference No:
201412-1210-007
Status:
Historical Inactive
Previous ICR Reference No:
Agency/Subagency:
DOL/EBSA
Agency Tracking No:
Title:
On the Road to Retirement Surveys
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Withdrawn
Conclusion Date:
09/10/2017
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/27/2017
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
30 Months From Approved
Responses
0
0
0
Time Burden (Hours)
0
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
The Department is planning to undertake a long-term research study to develop a panel that will track U. S. households over several years in order to collect data and answer important research questions on how retirement planning strategies and decisions evolve over time. Relatively little is known about how people make planning and financial decisions before and during retirement. A major hurdle to retirement research is the lack of data on how people make these decisions related to retirement. Gaining insight into Americans' decision-making processes and experiences will provide policy-makers and the research community with valuable information that can be used to guide future policy and research. This investigation will explore a set of research questions on retirement savings, investment, and drawdown behavior by conducting a study that tracks retirees and future retirees over an extended period. Responses to survey questions on retirement planning and financial advising will be compared to data extracted from submitted documents to assess how well observed financial outcomes match up to household reports of such items as contributions and investment allocations. The data on observed outcomes will be combined with survey responses on planning methods and strategies to perform a cross-sectional analysis, conditional on other respondent attributes. Multiple waves of data drawn from various surveys will be utilized to analyze how behavior evolves over time.
Authorizing Statute(s):
US Code:
29 USC 1143
Name of Law: Employee Retirement Income Security Act
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:
81 FR 10280
02/29/2016
30-day Notice:
Federal Register Citation:
Citation Date:
82 FR 19391
04/27/2017
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Pre-Test/Pre-Survey
Pre-Survey
Pre-Survey
Year 1 Survey
Internet IPS Baseline Interview, Internet IPS Follow-Up Interview, Mail/Telephone IPS Interview, Internet AIS Interview, Mail/Telephone AIS Interview
Internet IPS Baseline Interview
,
Internet IPS Follow-Up Interview
,
Mail/Telephone IPS Interview
,
Internet AIS Interview
,
Mail/Telephone AIS Interview
Year 2 Survey
Internet AIS Interview, Mail/Telephone AIS Interview, Internet APS Baseline Interview, Internet APS Follow-Up Interview, Mail/Telephone APS Interview
Internet AIS Interview
,
Mail/Telephone AIS Interview
,
Internet APS Baseline Interview
,
Internet APS Follow-Up Interview
,
Mail/Telephone APS Interview
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
This is a new data collection associated with a research project.
Annual Cost to Federal Government:
$1,242,239
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
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]?
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?
Uncollected
Agency Contact:
Chris Cosby 202 693-8540
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:
04/27/2017
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