Determination of Executive Compensation Benchmark Amount, 15779 [E8-5978]

Download as PDF Federal Register / Vol. 73, No. 58 / Tuesday, March 25, 2008 / Notices OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy Determination of Executive Compensation Benchmark Amount Office of Federal Procurement Policy, OMB. ACTION: Notice. AGENCY: SUMMARY: The Office of Management and Budget (OMB) is 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’ fiscal year 2008—$612,196. 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, OFPP, at (202) 395–3256. mstockstill on PROD1PC66 with NOTICES MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES From: Paul A. Denett, Administrator, OFPP. 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 VerDate Aug<31>2005 18:33 Mar 24, 2008 Jkt 214001 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 (FY) 2008 is $612,196. This amount is for contractors’ FY 2008 and subsequent contractor fiscal years, unless and until revised by OFPP. The benchmark compensation amount applies to contract costs incurred after January 1, 2008, 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, OFPP, at (202) 395–3256. Paul A. Denett, Administrator, Office of Federal Procurement Policy. [FR Doc. E8–5978 Filed 3–24–08; 8:45 am] BILLING CODE 3110–01–P NUCLEAR REGULATORY COMMISSION Agency Information Collection Activities: Proposed Collection; Comment Request U. S. Nuclear Regulatory Commission (NRC). ACTION: Notice of pending NRC action to submit an information collection request to the Office of Management and Budget (OMB) and solicitation of public comment. AGENCY: SUMMARY: The NRC is preparing a submittal to OMB for review of continued approval of information collections under the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35). Information pertaining to the requirement to be submitted: 1. The title of the information collection: 10 CFR Part 20—Standards for Protection Against Radiation. 2. Current OMB approval number: 3150–0014. 3. How often the collection is required: Annually for most reports and at license termination for reports dealing with decommissioning. 4. Who is required or asked to report: NRC licensees, including those requesting license terminations. 5. The number of annual respondents: 4,512. 6. The number of hours needed annually to complete the requirement or request: 127,469 hours (3,709 hours for PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 15779 reporting [9.11 hours per response] plus 123,760 hours for recordkeeping [27.43 hours per recordkeeper]). 7. Abstract: 10 CFR Part 20 establishes standards for protection against ionizing radiation resulting from activities conducted under licenses issued by the NRC. These standards require the establishment of radiation protection programs, maintenance of radiation protection programs, maintenance of radiation records recording of radiation received by workers, reporting of incidents which could cause exposure to radiation, submittal of an annual report to NRC of the results of individual monitoring, and submittal of license termination information. These mandatory requirements are needed to protect occupationally exposed individuals from undue risks of excessive exposure to ionizing radiation and to protect the health and safety of the public. Submit, by May 27, 2008, comments that address the following questions: 1. Is the proposed collection of information necessary for the NRC to properly perform its functions? Does the information have practical utility? 2. Is the burden estimate accurate? 3. Is there a way to enhance the quality, utility, and clarity of the information to be collected? 4. How can the burden of the information collection be minimized, including the use of automated collection techniques or other forms of information technology? A copy of the draft supporting statement may be viewed free of charge at the NRC Public Document Room, One White Flint North, 11555 Rockville Pike, Room O–1 F21, Rockville, MD 20852. OMB clearance requests are available at the NRC worldwide Web site: http://www.nrc.gov/public-involve/ doc-comment/omb/index.html. The document will be available on the NRC home page site for 60 days after the signature date of this notice. Comments and questions about the information collection requirements may be directed to the NRC Clearance Officer, Margaret A. Janney (T–5 F52), U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, by telephone at 301–415–7245, or by email to INFOCOLLECTS@NRC.GOV. Dated at Rockville, Maryland, this 19th day of March, 2008. For the Nuclear Regulatory Commission. Gregory Trussell, Acting NRC Clearance Officer, Office of Information Services. [FR Doc. E8–5968 Filed 3–24–08; 8:45 am] BILLING CODE 7590–01–P E:\FR\FM\25MRN1.SGM 25MRN1

Agencies

[Federal Register Volume 73, Number 58 (Tuesday, March 25, 2008)]
[Notices]
[Page 15779]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-5978]



[[Page 15779]]

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OFFICE OF MANAGEMENT AND BUDGET

Office of Federal Procurement Policy


Determination of Executive Compensation Benchmark Amount

AGENCY: Office of Federal Procurement Policy, OMB.

ACTION: Notice.

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SUMMARY: The Office of Management and Budget (OMB) is 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' fiscal year 2008--$612,196. 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, OFPP, at (202) 395-
3256.

MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES

    From: Paul A. Denett, Administrator, OFPP.
    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 (FY) 2008 is $612,196. 
This amount is for contractors' FY 2008 and subsequent contractor 
fiscal years, unless and until revised by OFPP. The benchmark 
compensation amount applies to contract costs incurred after January 1, 
2008, 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, OFPP, at (202) 395-3256.

Paul A. Denett,
Administrator, Office of Federal Procurement Policy.
[FR Doc. E8-5978 Filed 3-24-08; 8:45 am]
BILLING CODE 3110-01-P