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View ICR - OIRA Conclusion

OMB Control No: 1210-0128	ICR Reference No: 202210-1210-003
Status: Historical Active	Previous ICR Reference No: 202204-1210-001
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers under Prohibited Transaction Exemption 1984-14
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: 02/28/2023
	Date Received in OIRA: 01/26/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2026	36 Months From Approved	02/28/2023
Responses	11,110	0	4,071
Time Burden (Hours)	264,110	0	96,774
Cost Burden (Dollars)	110,000,000	0	40,311,395

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	11,110	4,071	7,039
Annual Time Burden (Hours)	264,110	96,774	167,336
Annual Cost Burden (Dollars)	110,000,000	40,311,395	69,688,605

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: The Department is revising its estimate of the number of respondents (QPAMs) based on a change in methodology to estimate the number of QPAMs. This change has resulted in an increase in the number of responses. The number of responses has increased by 7,039. In addition, the Department is revising its estimate of the wage costs due to increased labor costs and inflation. Finally, the burden of the service providers to prepare policies and procedures has been accounted for in the hour burden. In the previous information collection, their burden was accounted for in the cost burden. Therefore, these changes have resulted in an increase in the cost burden and hour burden. The hour burden has increased by 167,336 hours and the cost burden has increased by $69,688,605.

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. 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? No

Agency Contact: James Butikofer 202 693-8434 Butikofer.James@dol.gov

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