Prohibited Transaction Class
Exemptions for Multiple Employer Plans and Multiple Employer
Apprenticeship Plans—PTE 1976-1, PTE 1977-10, PTE 1978-6
Extension without change of a currently approved collection
No
Regular
04/28/2022
Requested
Previously Approved
36 Months From Approved
06/30/2022
3,409
3,483
815
871
0
0
PTE 76-1 permits multi employer
employee benefit plans under specific conditions to negotiate with
contributing employer to accept delinquent contributions and settle
delinquencies; to make construction loans to contributing
employers; and to lease property and purchase services and goods
from parties in interest, including contributing employers and
employee associations. PTE 77-10 expands the scope of relief
provided under PTE 76-1 part C, for leasing property and purchasing
goods and services. PTE 78-6 provides an exemption to multi
employer apprenticeship plans for purchasing personal property or
leasing real property from a contributing employer. All three
exemptions impose recordkeeping requirements on plans as a
condition to availability of the relief.
US Code:
29
USC 1108(a) Name of Law: Employee Retirement Income Security
Act of 1974
US Code: 29
USC 1106 Name of Law: Employee Retirement Income Security Act
of 1974
US Code: 29
USC 1107 Name of Law: Employee Retirement Income Security Act
of 1974
There have been no program
changes to the exemptions since the last submission. The estimates
have been adjusted to reflect data from 2019 Form 5500 filings (the
most current year available), which reflect fewer plans using the
exemptions and therefore less associated burden. The burden
estimate equivalent costs have also been updated to reflect an
increase in labor costs. These updated data inputs decrease the
number of responses by 74 responses and the burden hours by 56
hours compared with the prior submission.
$0
No
No
No
No
No
No
No
James Butikofer 202 693-8434
Butikofer.James@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.