Disclosures by Insurers to General Account Policyholders

ICR 201505-1210-003

OMB: 1210-0114

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2015-05-29
IC Document Collections
IC ID
Document
Title
Status
13479
Modified
ICR Details
1210-0114 201505-1210-003
Historical Active 201201-1210-002
DOL/EBSA
Disclosures by Insurers to General Account Policyholders
Extension without change of a currently approved collection   No
Regular
Approved without change 08/26/2015
Retrieve Notice of Action (NOA) 05/29/2015
  Inventory as of this Action Requested Previously Approved
08/31/2018 36 Months From Approved 08/31/2015
32,000 0 96,223
135,000 0 408,948
12,000 0 33,678

Section 1460 of the Small Business Job Protection Act of 1996 (Pub. L. 104-188) added a new Section 401(c) to ERISA to establish requirements for "Transition Policies" issued before December 31, 1998, to employee benefit plans, under which plan assets are held in the insurer's general account. The regulation at 29 CFR 2550-.401(c)requires financial information to be provided to the plan policyholder when the policy is first issued, annually, and upon request.

US Code: 29 USC 1104(c) Name of Law: Employee Retirement Income Security Act of 1974
  
None

Not associated with rulemaking

  79 FR 61903 10/15/2014
80 FR 30736 05/29/2015
No

1
IC Title Form No. Form Name
Disclosures by Insurers to General Account Policyholders

  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 32,000 96,223 0 0 -64,223 0
Annual Time Burden (Hours) 135,000 408,948 0 0 -273,948 0
Annual Cost Burden (Dollars) 12,000 33,678 0 0 -21,678 0
No
No
The hour and cost burdens have been adjusted based on updated information about the numbers of existing Transition Policies.

$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.
05/29/2015


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