Employee Retirement Income Security Act Section 408(b)(2) Regulation

ICR 201803-1210-003

OMB: 1210-0133

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-05-01
IC Document Collections
ICR Details
1210-0133 201803-1210-003
Active 201503-1210-002
DOL/EBSA 1210-AB08-zA13
Employee Retirement Income Security Act Section 408(b)(2) Regulation
Extension without change of a currently approved collection   No
Regular
Approved without change 08/09/2018
Retrieve Notice of Action (NOA) 05/07/2018
  Inventory as of this Action Requested Previously Approved
08/31/2021 36 Months From Approved 08/31/2018
1,483,062 0 1,472,000
1,045,680 0 1,040,000
1,251,649 0 1,336,000

The Department published a final rule under ERISA section 408(b)(2) in the Federal Register on February 3, 2012 (77 FR 5632). Under the final rule, for a contract or arrangement to be "reasonable," certain service providers must disclose specified information to a pension plan, in writing, before the plan may enter into, extend, or renew the contract or arrangement. The Department's final regulation retains the basic structure of the proposal and interim final rule by requires covered service providers to satisfy certain disclosure requirements in order to qualify for the statutory exemption for services under ERISA section 408(b)(2).

US Code: 29 USC 1108 Name of Law: Employee Retirement Income Security Act
  
None

Not associated with rulemaking

  82 FR 47581 10/12/2017
83 FR 19837 05/04/2018
No

3
IC Title Form No. Form Name
Class Exemption Notice to Providers
Class Exemption Notice to Department of Labor, EBSA
Disclosure Notices

  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 1,483,062 1,472,000 0 0 11,062 0
Annual Time Burden (Hours) 1,045,680 1,040,000 0 0 5,680 0
Annual Cost Burden (Dollars) 1,251,649 1,336,000 0 0 -84,351 0
No
No
The hour and cost burden estimates have been updated to reflect the most current data available regarding the number of plans and service providers in the retirement universe, as well as updated labor cost rates, postage rates, and assumptions regarding the use of electronic transmission.

$0
No
    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.
05/07/2018


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