Employee Retirement Income Security Act Prohibited Transaction Exemption 1986-128 For Securities Transactions Involving Employee Benefit Plans and Broker-Dealers

ICR 201906-1210-003

OMB: 1210-0059

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-06-28
ICR Details
1210-0059 201906-1210-003
Active 201603-1210-005
DOL/EBSA
Employee Retirement Income Security Act Prohibited Transaction Exemption 1986-128 For Securities Transactions Involving Employee Benefit Plans and Broker-Dealers
Revision of a currently approved collection   No
Regular
Approved without change 08/01/2019
Retrieve Notice of Action (NOA) 06/28/2019
  Inventory as of this Action Requested Previously Approved
08/31/2022 36 Months From Approved 07/31/2019
819,448 0 907,000
19,495 0 68,000
661,045 0 735,000

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
  
None

Not associated with rulemaking

  84 FR 13719 04/05/2019
84 FR 31109 06/28/2019
No

  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 819,448 907,000 0 -87,552 0 0
Annual Time Burden (Hours) 19,495 68,000 0 -48,505 0 0
Annual Cost Burden (Dollars) 661,045 735,000 0 -73,955 0 0
No
Yes
Changing Regulations
The Department is renewing the information collections contained in PTE 86-128 that were in place prior to 2016. This analysis uses updated labor cost 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. The estimated number of affected broker-dealer fiduciaries has been updated to reflect current Securities and Exchange Commission data. These updates resulted in an increase in the number of disclosures produced and in the cost burden.

$0
No
    No
    No
No
No
No
Uncollected
Allan Beckmann 202 693-8429 beckmann.allan@dol.gov

  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.
06/28/2019


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