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View ICR - OIRA Conclusion

OMB Control No: 1210-0128	ICR Reference No: 202311-1210-001
Status: Active	Previous ICR Reference No: 202210-1210-003
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: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/17/2024
	Date Received in OIRA: 04/03/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	02/28/2026
Responses	15,786	0	11,110
Time Burden (Hours)	13,490	0	264,110
Cost Burden (Dollars)	1,250,753	0	110,000,000

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	15,786	11,110	4,676
Annual Time Burden (Hours)	13,490	264,110	-250,620
Annual Cost Burden (Dollars)	1,250,753	110,000,000	-108,749,247

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 updating the estimation methodology to identify a QPAM. Because of this new methodology, the current estimated total number of respondents is considerably higher in comparison to the estimations presented in the proposal. The Department is also using more recent Form 5500 data (2020). Additionally, other things being equal, the Final Amendment removes some of the adds requirements proposed in the Proposed Amendment. The Department is also revising its estimate of the wage costs due to increased labor costs and inflation. The overall effect is a decrease in the total burden. As a result, the total number of responses has increased by 4,676 responses, the hour burden has decreased by 250,620 hours, and the cost burden has decreased by $108,749,247.

Annual Cost to Federal Government: $4,163

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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