Default Investment Alternatives under Participant Directed Individual Account Plans

ICR 201701-1210-006

OMB: 1210-0132

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2017-02-14
ICR Details
1210-0132 201701-1210-006
Historical Active 201311-1210-004
DOL/EBSA 1210-AB10(Final)
Default Investment Alternatives under Participant Directed Individual Account Plans
Extension without change of a currently approved collection   No
Regular
Approved without change 06/16/2017
Retrieve Notice of Action (NOA) 02/21/2017
  Inventory as of this Action Requested Previously Approved
06/30/2020 36 Months From Approved 06/30/2017
36,249,796 0 31,100,000
191,640 0 201,000
9,959,269 0 10,800,000

This information collection relates to regulations creating standards for fiduciary relief from liability for default investment by individual account pension plans of account assets of participants and beneficiaries who fail to provide investment directions.

US Code: 29 USC 1104(c)(5)(A) Name of Law: ERISA
   PL: Pub.L. 109 - 280 624 Name of Law: Pension Protection Act of 2006
  
None

Not associated with rulemaking

  81 FR 75157 10/28/2016
82 FR 11242 02/21/2017
No

1
IC Title Form No. Form Name
Annual Notice for Default Investment Alternatives under Participant Directed Individual Account Plans

  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 36,249,796 31,100,000 0 0 5,149,796 0
Annual Time Burden (Hours) 191,640 201,000 0 0 -9,360 0
Annual Cost Burden (Dollars) 9,959,269 10,800,000 0 0 -840,731 0
No
No
There have been no program changes with this submission. The number of respondents and responses increased due to more current data on the regulated plan universe. The hour and cost burden decreased due to updates in the Department’s assumptions regarding electronic distribution of the disclosures.

$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.
02/21/2017


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