OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Summary Plan Description Requirements Under the Employee Retirement Income Security Act of 1974, as Amended

ICR 202003-1210-004 · OMB 1210-0039 · Active

Forms and Documents
DocumentTypeStatusAvailability
1210-0039 SPD SS- 4-22-2020 (clean).docx Supporting Statement A Uploaded 2020-04-22 Available
Supplemental Tables-2020v3.rtf Supplementary Document Uploaded 2020-03-25 Available
IC Document Collections
IC IDCollectionTypeStatusForm
13335 Summary Plan Description Requirements Under ERISA Modified
ICR Details
1210-0039 202003-1210-004
Active 201906-1210-010
DOL/EBSA 1210-AB10(Final)
Summary Plan Description Requirements Under the Employee Retirement Income Security Act of 1974, as Amended
Revision of a currently approved collection   No
Regular
Approved without change 08/17/2020
Retrieve Notice of Action (NOA) 05/27/2020
  Inventory as of this Action Requested Previously Approved
08/31/2023 36 Months From Approved 10/31/2022
112,733,000 0 112,733,000
162,956 0 289,000
235,556,141 0 324,020,000
The Department's regulations provide guidance on the content, frequency, and manner of disclosures required under ERISA to be furnished by employee benefit plans to plan participants and certain specified plan beneficiaries periodically in Summary Plan Descriptions (SPDs), Summaries of Material Modifications(SMMs), and Summaries of Material Reductions (SMRs).
US Code: 29 USC 1022 Name of Law: Employee Retirement Income Security Act of 1974
   US Code: 29 USC 1024 Name of Law: Employee Retirement Income Security Act of 1974
  
None
1210-AB90 Final or interim final rulemaking 85 FR 31884 05/27/2020
No
1
IC Title Form No. Form Name
Summary Plan Description Requirements Under ERISA
  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 112,733,000 112,733,000 0 0 0 0
Annual Time Burden (Hours) 162,956 289,000 0 -126,044 0 0
Annual Cost Burden (Dollars) 235,556,141 324,020,000 0 -88,463,859 0 0
No
Yes
Miscellaneous Actions
In accordance with Executive Order 13847, the Department finalized a new safe harbor for the use of electronic media by administrators of retirement plans covered by ERISA. This amendment enables plan administrators to furnish documents to plan participants and beneficiaries by means of electronic delivery if they have electronic addresses and if they do not opt out of electronic delivery. This rule creates cost savings by increasing the number of electronically delivered documents, thereby reducing printing and mailing costs. This cost savings is reflected in the lower estimated costs for materials and postage reflected in Item 13 above. Estimates were also updated with new data and statistics.
$0
No
    No
    No
No
No
No
No
James Butikofer 202 693-8434 [email protected]
  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.
05/27/2020