Prohibited Transaction Exemption
86-128 (as amended) permits persons who serve as fiduciaries for
employee benefit plans to effect or execute securities transactions
on behalf of employee benefit plans.
US Code:
29
USC 1108 Name of Law: Employee Retirement Income Security Act
of 1974
This analysis uses 2014 wage
and overhead estimates. Costs of postage have been updated.
Additionally, the number of plans affected has been updated to
reflect updated Form 5500 data. The estimated number of new plans
has also been updated to reflect updated Form 5500 data. These
updates resulted in an increase in the number of disclosures
produced and in the cost burden. The estimated number of affected
broker-dealer fiduciaries has been updated to reflect current
Securities and Exchange Commission data. Additionally, the
Department erroneously reported during the last submission that
legal professionals at plans would prepare the annual termination
form. In fact, legal professionals at financial institutions are
likely to prepare this form. As forms are likely to be
standardized, and there are far fewer financial institutions using
this exemption that there are plans engaging in transactions, this
resulted in a reduction in the hour burden estimate.
$0
No
No
No
No
No
Uncollected
Chris Cosby 202
693-8540
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:
(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;
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.