Determination of Executive Compensation Benchmark Amount Pursuant to Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435), as Amended, 14300 [E7-5573]

Download as PDF 14300 Federal Register / Vol. 72, No. 58 / Tuesday, March 27, 2007 / Notices compensation (Wolodar Lysko and Jessica Sincavage). 2. KLEMS multifactor productivity (MFP) for major industry groups (Steve Rosenthal). 3. MFP for detailed manufacturing industries (DIPS staff). 4. Effects of capitalization of R&D in the national accounts on major sector MFP (Larry Rosenblum). 5. Discussion of agenda items for the Fall 2007 meeting. 1–2:30 p.m.—Committee on Safety and Health Statistics 1. Undercount activities. a. Quality assurance survey. b. Other activities. 2. Workplace violence prevention survey results. 3. Case and demographic data, 2005. 4. Final CFOI estimates, 2005. 5. Internet data collection. 6. Discussion of agenda items for the Fall 2007 meeting. 3–4:30 p.m.—Committee on Price Indexes 1. Associate Commissioner update (Mike Horrigan). 2. Airline indexes in OPLC—results from the methodology team study. 3. Treatment of utility costs in the CPI rental equivalence index. 4. Discussion of agenda items for the Fall 2007 meeting. Thursday—April 12 (Conference Rooms 1 & 2) 8:30–10 a.m.—Committee on Employment and Unemployment Statistics 1. New Current Employment Statistics (CES) data to be released April 6 on all employee regular hours and earnings and gross monthly earnings. 2. Plans for the next evaluation of our biennial employment projections: progress, goals, and issues. 3. CPS program analysis of trends in labor force participation. 4. Discussion of agenda items for the Fall 2007 meeting. sroberts on PROD1PC70 with NOTICES 10:30 a.m.–12 p.m.—Council Meeting 1. Council chairperson’s remarks. 2. Deputy Commissioner’s remarks. 1:30–3 p.m.—Committee on Compensation and Working Conditions 1. NCS Data Collection—Maximizing value while minimizing burden. a. NCS provides a wealth of data on employee wages and benefits. b. NCS constantly looks for ways to obtain these data without undue burden on our respondents. c. NCS reaches out to respondents and other users to make sure they’re aware of this valuable source of information. VerDate Aug<31>2005 16:38 Mar 26, 2007 Jkt 211001 d. NCS wants your input on what more we should be doing to minimize burden and maximize utility. 2. Keeping NCS fresh—accounting for change in the economy. a. Area sample reselection. b. Establishment sample rotation. c. Selection of occupations. d. SOC revision. 3. Update on initiatives and action items. a. Collective bargaining agreements available on-line. b. Pay relative processes. c. Local ECI research. 4. Discussion of agenda items for the Fall 2007 meeting. The meetings are open to the public. Persons wishing to attend these meetings as observers should contact Tracy A. Jack, Liaison, Business Research Advisory Council, at 202–691– 5869. Philip L. Rones, Deputy Commissioner. [FR Doc. E7–5577 Filed 3–26–07; 8:45 am] BILLING CODE 4510–24–P OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy Determination of Executive Compensation Benchmark Amount Pursuant to Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435), as Amended Office of Federal Procurement Policy. ACTION: Notice. AGENCY: SUMMARY: The Office of Management and Budget (OMB) is hereby publishing the attached memorandum to the heads of executive departments and agencies concerning the determination of the maximum benchmark compensation amount that will be allowable under government contracts during contractors’ FY 2007—$597,912. This determination is required under Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435), as amended. The benchmark compensation amount applies equally to both defense and civilian procurement agencies. FOR FURTHER INFORMATION CONTACT: Laura Auletta, Office of Federal Procurement Policy, on (202) 395–3256. Paul A. Denett, Administrator. Memorandum for the Heads of Executive Departments and Agencies Subject: Determination of Executive Compensation Benchmark Amount, Pursuant PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 to Section 39 of the Office of Federal Procurement Policy, (OFPP) Act (41 U.S.C. 435), as amended. This memorandum sets forth the benchmark compensation amount as required by Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435), as amended. Under Section 39, the benchmark compensation amount is the median amount of the compensation provided for all senior executives of benchmark corporations for the most recent year for which data is available. The benchmark compensation amount established by Section 39 limits the allowability of compensation costs under government contracts. The benchmark compensation amount does not limit the compensation that an executive may otherwise receive. This amount is based on data from commercially available surveys of executive compensation that analyze the relevant data made available by the Securities and Exchange Commission. More specifically, as required by Section 39 of the OFPP Act, the data used is the median (50th percentile) amount of compensation accrued over a recent 12 month period for the top five highest paid executives of publicly traded companies with annual sales over $50 million. After consultation with the Director of the Defense Contract Audit Agency, we have determined pursuant to the requirements of Section 39 that the benchmark compensation amount for contractors’ Fiscal Year 2007 is $597,912. This amount is for Fiscal Year 2007 and subsequent contractor fiscal years, unless and until revised by OFPP. The benchmark compensation amount applies to contract costs incurred after January 1, 2007, under covered contracts of both the defense and civilian procurement agencies as specified in Section 39 of the OFPP Act (41 U.S.C. 435), as amended. Questions concerning this memorandum may be addressed to Laura Auletta, Office of Federal Procurement Policy, at (202) 395– 3256. Paul A. Denett, Administrator. [FR Doc. E7–5573 Filed 3–26–07; 8:45 am] BILLING CODE 3110–01–P NATIONAL ARCHIVES AND RECORDS ADMINISTRATION Agency Information Collection Activities: Submission for OMB Review; Comment Request National Archives and Records Administration (NARA). ACTION: Notice. AGENCY: SUMMARY: NARA is giving public notice that the agency has submitted to OMB for approval the information collections described in this notice. The public is invited to comment on the proposed information collections pursuant to the Paperwork Reduction Act of 1995. DATES: Written comments must be submitted to OMB at the address below E:\FR\FM\27MRN1.SGM 27MRN1

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[Federal Register Volume 72, Number 58 (Tuesday, March 27, 2007)]
[Notices]
[Page 14300]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-5573]


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OFFICE OF MANAGEMENT AND BUDGET

Office of Federal Procurement Policy


Determination of Executive Compensation Benchmark Amount Pursuant 
to Section 39 of the Office of Federal Procurement Policy (OFPP) Act 
(41 U.S.C. 435), as Amended

AGENCY: Office of Federal Procurement Policy.

ACTION: Notice.

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SUMMARY: The Office of Management and Budget (OMB) is hereby publishing 
the attached memorandum to the heads of executive departments and 
agencies concerning the determination of the maximum benchmark 
compensation amount that will be allowable under government contracts 
during contractors' FY 2007--$597,912. This determination is required 
under Section 39 of the Office of Federal Procurement Policy (OFPP) Act 
(41 U.S.C. 435), as amended. The benchmark compensation amount applies 
equally to both defense and civilian procurement agencies.

FOR FURTHER INFORMATION CONTACT: Laura Auletta, Office of Federal 
Procurement Policy, on (202) 395-3256.

Paul A. Denett,
Administrator.

Memorandum for the Heads of Executive Departments and Agencies

    Subject: Determination of Executive Compensation Benchmark 
Amount, Pursuant to Section 39 of the Office of Federal Procurement 
Policy, (OFPP) Act (41 U.S.C. 435), as amended.
    This memorandum sets forth the benchmark compensation amount as 
required by Section 39 of the Office of Federal Procurement Policy 
(OFPP) Act (41 U.S.C. 435), as amended. Under Section 39, the 
benchmark compensation amount is the median amount of the 
compensation provided for all senior executives of benchmark 
corporations for the most recent year for which data is available. 
The benchmark compensation amount established by Section 39 limits 
the allowability of compensation costs under government contracts. 
The benchmark compensation amount does not limit the compensation 
that an executive may otherwise receive. This amount is based on 
data from commercially available surveys of executive compensation 
that analyze the relevant data made available by the Securities and 
Exchange Commission. More specifically, as required by Section 39 of 
the OFPP Act, the data used is the median (50th percentile) amount 
of compensation accrued over a recent 12 month period for the top 
five highest paid executives of publicly traded companies with 
annual sales over $50 million. After consultation with the Director 
of the Defense Contract Audit Agency, we have determined pursuant to 
the requirements of Section 39 that the benchmark compensation 
amount for contractors' Fiscal Year 2007 is $597,912. This amount is 
for Fiscal Year 2007 and subsequent contractor fiscal years, unless 
and until revised by OFPP. The benchmark compensation amount applies 
to contract costs incurred after January 1, 2007, under covered 
contracts of both the defense and civilian procurement agencies as 
specified in Section 39 of the OFPP Act (41 U.S.C. 435), as amended.
    Questions concerning this memorandum may be addressed to Laura 
Auletta, Office of Federal Procurement Policy, at (202) 395-3256.
    Paul A. Denett, Administrator.
 [FR Doc. E7-5573 Filed 3-26-07; 8:45 am]
BILLING CODE 3110-01-P