2010 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 56674-56675 [E9-26298]
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Federal Register / Vol. 74, No. 210 / Monday, November 2, 2009 / Notices
approximately 30 minutes to complete
the form. The annual burden is 750
hours.
For copies of this proposal, contact
Cyrus S. Benson on (202) 606–0623,
FAX (202) 606–0910 or via E-mail to
Cyrus.Benson@opm.gov. Please include
a mailing address with your request.
DATES: Comments on this proposal
should be received within 30 calendar
days from the date of this publication.
ADDRESSES: Send or deliver comments
to—James K. Freiert, Deputy Assistant
Director, Retirement Services Program,
Center for Retirement and Insurance
Services, U.S. Office of Personnel
Management, 1900 E Street, NW., Room
3305, Washington, DC 20415–3500 and
OPM Desk Officer, Office of Information
& Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, 725 17th
Street, NW., Room 10235, Washington,
DC 20503.
For information regarding
administrative coordination contact:
Cyrus S. Benson, Team Leader,
Publications Team, RIS Support
Services/Support Group, U.S. Office of
Personnel Management, 1900 E Street,
NW., Room 4H28, Washington, DC
20415, (202) 606–0623.
John Berry,
Director, U.S. Office of Personnel
Management.
[FR Doc. E9–26314 Filed 10–30–09; 8:45 am]
BILLING CODE 6325–38–P
RAILROAD RETIREMENT BOARD
2010 Railroad Experience Rating
Proclamations, Monthly Compensation
Base and Other Determinations
Railroad Retirement Board.
ACTION: Notice.
srobinson on DSKHWCL6B1PROD with NOTICES
AGENCY:
SUMMARY: Pursuant to section 8(c)(2)
and section 12(r)(3) of the Railroad
Unemployment Insurance Act (Act) (45
U.S.C. 358(c)(2) and 45 U.S.C. 362(r)(3),
respectively), the Board gives notice of
the following:
1. The balance to the credit of the
Railroad Unemployment Insurance
(RUI) Account, as of June 30, 2009, is
$73,515,830.17;
2. The September 30, 2009, balance of
any new loans to the RUI Account,
including accrued interest, is zero;
3. The system compensation base is
$3,712,573,424.54 as of June 30, 2009;
4. The cumulative system unallocated
charge balance is ($319,754,784.70) as of
June 30, 2009;
5. The pooled credit ratio for calendar
year 2010 is zero;
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17:03 Oct 30, 2009
Jkt 220001
6. The pooled charged ratio for
calendar year 2010 is zero;
7. The surcharge rate for calendar year
2010 is 1.5 percent;
8. The monthly compensation base
under section 1(i) of the Act is $1,330
for months in calendar year 2010;
9. The amount described in sections
1(k) and 3 of the Act as ‘‘2.5 times the
monthly compensation base’’ is $3,325
for base year (calendar year) 2010;
10. The amount described in section
4(a–2)(i)(A) of the Act as ‘‘2.5 times the
monthly compensation base’’ is $3,325
with respect to disqualifications ending
in calendar year 2010;
11. The amount described in section
2(c) of the Act as ‘‘an amount that bears
the same ratio to $775 as the monthly
compensation base for that year as
computed under section 1(i) of this Act
bears to $600’’ is $1,718 for months in
calendar year 2010;
12. The maximum daily benefit rate
under section 2(a)(3) of the Act is $66
with respect to days of unemployment
and days of sickness in registration
periods beginning after June 30, 2010.
DATES: The balance in notice (1) and the
determinations made in notices (3)
through (7) are based on data as of June
30, 2009. The balance in notice (2) is
based on data as of September 30, 2009.
The determinations made in notices (5)
through (7) apply to the calculation,
under section 8(a)(1)(C) of the Act, of
employer contribution rates for 2010.
The determinations made in notices (8)
through (11) are effective January 1,
2010. The determination made in notice
(12) is effective for registration periods
beginning after June 30, 2010.
ADDRESSES: Secretary to the Board,
Railroad Retirement Board, 844 Rush
Street, Chicago, Illinois 60611–2092.
FOR FURTHER INFORMATION CONTACT:
Marla L. Huddleston, Bureau of the
Actuary, Railroad Retirement Board, 844
Rush Street, Chicago, Illinois 60611–
2092, telephone (312) 751–4779.
SUPPLEMENTARY INFORMATION: The RRB
is required by section 8(c)(1) of the
Railroad Unemployment Insurance Act
(Act) (45 U.S.C. 358(c)(1)) as amended
by Public Law 100–647, to proclaim by
October 15 of each year certain systemwide factors used in calculating
experience-based employer contribution
rates for the following year. The RRB is
further required by section 8(c)(2) of the
Act (45 U.S.C. 358(c)(2)) to publish the
amounts so determined and proclaimed.
The RRB is required by section 12(r)(3)
of the Act (45 U.S.C. 362(r)(3)) to
publish by December 11, 2009, the
computation of the calendar year 2010
monthly compensation base (section 1(i)
of the Act) and amounts described in
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
sections 1(k), 2(c), 3 and 4(a–2)(i)(A) of
the Act which are related to changes in
the monthly compensation base. Also,
the RRB is required to publish, by June
11, 2010, the maximum daily benefit
rate under section 2(a)(3) of the Act for
days of unemployment and days of
sickness in registration periods
beginning after June 30, 2010.
Surcharge Rate
A surcharge is added in the
calculation of each employer’s
contribution rate, subject to the
applicable maximum rate, for a calendar
year whenever the balance to the credit
of the RUI Account on the preceding
June 30 is less than the greater of $100
million or the amount that bears the
same ratio to $100 million as the system
compensation base for that June 30
bears to the system compensation base
as of June 30, 1991. If the RUI Account
balance is less than $100 million (as
indexed), but at least $50 million (as
indexed), the surcharge will be 1.5
percent. If the RUI Account balance is
less than $50 million (as indexed), but
greater than zero, the surcharge will be
2.5 percent. The maximum surcharge of
3.5 percent applies if the RUI Account
balance is less than zero.
The system compensation base as of
June 30, 1991 was $2,763,287,237.04.
The system compensation base for June
30, 2009 was $3,712,573,424.54. The
ratio of $3,712,573,424.54 to
$2,763,287,237.04 is 1.34353511.
Multiplying 1.34353511 by $100 million
yields $134,353,511. Multiplying $50
million by 1.34353511 produces
$67,176,756. The Account balance on
June 30, 2009, was $73,515,830.17.
Accordingly, the surcharge rate for
calendar year 2010 is 1.5 percent.
Monthly Compensation Base
For years after 1988, section 1(i) of the
Act contains a formula for determining
the monthly compensation base. Under
the prescribed formula, the monthly
compensation base increases by
approximately two-thirds of the
cumulative growth in average national
wages since 1984. The monthly
compensation base for months in
calendar year 2010 shall be equal to the
greater of (a) $600 or (b) $600 [1 + {(A—
37,800)/56,700}], where A equals the
amount of the applicable base with
respect to tier 1 taxes for 2010 under
section 3231(e)(2) of the Internal
Revenue Code of 1986. Section 1(i)
further provides that if the amount so
determined is not a multiple of $5, it
shall be rounded to the nearest multiple
of $5.
The calendar year 2010 tier 1 tax base
is $106,800. Subtracting $37,800 from
E:\FR\FM\02NON1.SGM
02NON1
Federal Register / Vol. 74, No. 210 / Monday, November 2, 2009 / Notices
$106,800 produces $69,000. Dividing
$69,000 by $56,700 yields a ratio of
1.21693122. Adding one gives
2.21693122. Multiplying $600 by the
amount 2.21693122 produces the
amount of $1,330.16, which must then
be rounded to $1,330. Accordingly, the
monthly compensation base is
determined to be $1,330 for months in
calendar year 2010.
srobinson on DSKHWCL6B1PROD with NOTICES
Amounts Related to Changes in
Monthly Compensation Base
For years after 1988, sections 1(k), 3,
4(a–2)(i)(A) and 2(c) of the Act contain
formulas for determining amounts
related to the monthly compensation
base.
Under section 1(k), remuneration
earned from employment covered under
the Act cannot be considered subsidiary
remuneration if the employee’s base
year compensation is less than 2.5 times
the monthly compensation base for
months in such base year. Under section
3, an employee shall be a ‘‘qualified
employee’’ if his/her base year
compensation is not less than 2.5 times
the monthly compensation base for
months in such base year. Under section
4(a–2)(i)(A), an employee who leaves
work voluntarily without good cause is
disqualified from receiving
unemployment benefits until he has
been paid compensation of not less than
2.5 times the monthly compensation
base for months in the calendar year in
which the disqualification ends.
Multiplying 2.5 by the calendar year
2010 monthly compensation base of
$1,330 produces $3,325. Accordingly,
the amount determined under sections
1(k), 3 and 4(a–2)(i)(A) is $3,325 for
calendar year 2010.
Under section 2(c), the maximum
amount of normal benefits paid for days
of unemployment within a benefit year
and the maximum amount of normal
benefits paid for days of sickness within
a benefit year shall not exceed an
employee’s compensation in the base
year. In determining an employee’s base
year compensation, any money
remuneration in a month not in excess
of an amount that bears the same ratio
to $775 as the monthly compensation
base for that year bears to $600 shall be
taken into account.
The calendar year 2010 monthly
compensation base is $1,330. The ratio
of $1,330 to $600 is 2.21666667.
Multiplying 2.21666667 by $775
produces $1,718. Accordingly, the
amount determined under section 2(c) is
$1,718 for months in calendar year
2010.
VerDate Nov<24>2008
17:03 Oct 30, 2009
Jkt 220001
Maximum Daily Benefit Rate
Section 2(a)(3) contains a formula for
determining the maximum daily benefit
rate for registration periods beginning
after June 30, 1989, and after each June
30 thereafter. Legislation enacted on
October 9, 1996, revised the formula for
indexing maximum daily benefit rates.
Under the prescribed formula, the
maximum daily benefit rate increases by
approximately two-thirds of the
cumulative growth in average national
wages since 1984. The maximum daily
benefit rate for registration periods
beginning after June 30, 2010, shall be
equal to 5 percent of the monthly
compensation base for the base year
immediately preceding the beginning of
the benefit year. Section 2(a)(3) further
provides that if the amount so computed
is not a multiple of $1, it shall be
rounded down to the nearest multiple of
$1.
The calendar year 2009 monthly
compensation base is $1,330.
Multiplying $1,330 by 0.05 yields
$66.50, which must then be rounded
down to $66. Accordingly, the
maximum daily benefit rate for days of
unemployment and days of sickness
beginning in registration periods after
June 30, 2010, is determined to be $66.
Dated: October 27, 2009.
By Authority of the Board.
Beatrice Ezerski,
Secretary to the Board.
[FR Doc. E9–26298 Filed 10–30–09; 8:45 am]
BILLING CODE 7905–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60873; File No. SR–Phlx–
2009–91]
Self-Regulatory Organizations; The
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change Relating to
the Expansion and Extension of the
Exchange’s Penny Pilot Program
October 23, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1, and Rule 19b–4 thereunder,2
notice is hereby given that on October
16, 2009, NASDAQ OMX PHLX, Inc.
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I and
II below, which Items have been
prepared by the Exchange. The
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00106
Fmt 4703
Sfmt 4703
56675
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing with the
Commission a proposal to amend its
Rule 1034 to: (1) Extend through
December 31, 2010, the Penny Pilot in
options classes in certain issues (‘‘Pilot
Program’’ or ‘‘Pilot’’); (2) expand the
number of issues included in the Pilot
Program; and (3) replace, on a semiannual basis, any Pilot Program issues
that have been delisted.3
The Exchange requests that the
Commission waive the 30-day operative
delay period contained in Exchange Act
Rule 19b–4(f)(6)(iii).4
The text of the proposed rule change
is available on the Exchange’s Website
at https://
nasdaqomxphlx.cchwallstreet.com/
NASDAQOMXPHLX/Filings/ at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposal is to:
Extend the time period of the Pilot
Program, which is currently scheduled
to expire on October 31, 2009, through
December 31, 2010; expand the number
of issues included in the Pilot Program;
and enable the Exchange to replace, on
3 See Securities Exchange Act Release No. 55153
(January 23, 2007), 72 FR 4553 (January 31, 2007)
(SR–Phlx–2006–74) (notice of filing and approval
order establishing Penny Pilot). See also Securities
Exchange Act Release No. 60211 (January 1, 2009),
74 FR 33001 (January 9, 2009) (SR–Phlx–2009–51)
(notice of filing and immediate effectiveness
extending Penny Pilot through October 31, 2009).
4 17 CFR 240.19b–4(f)(6)(iii).
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02NON1
]]>Agencies
[Federal Register Volume 74, Number 210 (Monday, November 2, 2009)]
[Notices]
[Pages 56674-56675]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-26298]
=======================================================================
-----------------------------------------------------------------------
RAILROAD RETIREMENT BOARD
2010 Railroad Experience Rating Proclamations, Monthly
Compensation Base and Other Determinations
AGENCY: Railroad Retirement Board.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: Pursuant to section 8(c)(2) and section 12(r)(3) of the
Railroad Unemployment Insurance Act (Act) (45 U.S.C. 358(c)(2) and 45
U.S.C. 362(r)(3), respectively), the Board gives notice of the
following:
1. The balance to the credit of the Railroad Unemployment Insurance
(RUI) Account, as of June 30, 2009, is $73,515,830.17;
2. The September 30, 2009, balance of any new loans to the RUI
Account, including accrued interest, is zero;
3. The system compensation base is $3,712,573,424.54 as of June 30,
2009;
4. The cumulative system unallocated charge balance is
($319,754,784.70) as of June 30, 2009;
5. The pooled credit ratio for calendar year 2010 is zero;
6. The pooled charged ratio for calendar year 2010 is zero;
7. The surcharge rate for calendar year 2010 is 1.5 percent;
8. The monthly compensation base under section 1(i) of the Act is
$1,330 for months in calendar year 2010;
9. The amount described in sections 1(k) and 3 of the Act as ``2.5
times the monthly compensation base'' is $3,325 for base year (calendar
year) 2010;
10. The amount described in section 4(a-2)(i)(A) of the Act as
``2.5 times the monthly compensation base'' is $3,325 with respect to
disqualifications ending in calendar year 2010;
11. The amount described in section 2(c) of the Act as ``an amount
that bears the same ratio to $775 as the monthly compensation base for
that year as computed under section 1(i) of this Act bears to $600'' is
$1,718 for months in calendar year 2010;
12. The maximum daily benefit rate under section 2(a)(3) of the Act
is $66 with respect to days of unemployment and days of sickness in
registration periods beginning after June 30, 2010.
DATES: The balance in notice (1) and the determinations made in notices
(3) through (7) are based on data as of June 30, 2009. The balance in
notice (2) is based on data as of September 30, 2009. The
determinations made in notices (5) through (7) apply to the
calculation, under section 8(a)(1)(C) of the Act, of employer
contribution rates for 2010. The determinations made in notices (8)
through (11) are effective January 1, 2010. The determination made in
notice (12) is effective for registration periods beginning after June
30, 2010.
ADDRESSES: Secretary to the Board, Railroad Retirement Board, 844 Rush
Street, Chicago, Illinois 60611-2092.
FOR FURTHER INFORMATION CONTACT: Marla L. Huddleston, Bureau of the
Actuary, Railroad Retirement Board, 844 Rush Street, Chicago, Illinois
60611-2092, telephone (312) 751-4779.
SUPPLEMENTARY INFORMATION: The RRB is required by section 8(c)(1) of
the Railroad Unemployment Insurance Act (Act) (45 U.S.C. 358(c)(1)) as
amended by Public Law 100-647, to proclaim by October 15 of each year
certain system-wide factors used in calculating experience-based
employer contribution rates for the following year. The RRB is further
required by section 8(c)(2) of the Act (45 U.S.C. 358(c)(2)) to publish
the amounts so determined and proclaimed. The RRB is required by
section 12(r)(3) of the Act (45 U.S.C. 362(r)(3)) to publish by
December 11, 2009, the computation of the calendar year 2010 monthly
compensation base (section 1(i) of the Act) and amounts described in
sections 1(k), 2(c), 3 and 4(a-2)(i)(A) of the Act which are related to
changes in the monthly compensation base. Also, the RRB is required to
publish, by June 11, 2010, the maximum daily benefit rate under section
2(a)(3) of the Act for days of unemployment and days of sickness in
registration periods beginning after June 30, 2010.
Surcharge Rate
A surcharge is added in the calculation of each employer's
contribution rate, subject to the applicable maximum rate, for a
calendar year whenever the balance to the credit of the RUI Account on
the preceding June 30 is less than the greater of $100 million or the
amount that bears the same ratio to $100 million as the system
compensation base for that June 30 bears to the system compensation
base as of June 30, 1991. If the RUI Account balance is less than $100
million (as indexed), but at least $50 million (as indexed), the
surcharge will be 1.5 percent. If the RUI Account balance is less than
$50 million (as indexed), but greater than zero, the surcharge will be
2.5 percent. The maximum surcharge of 3.5 percent applies if the RUI
Account balance is less than zero.
The system compensation base as of June 30, 1991 was
$2,763,287,237.04. The system compensation base for June 30, 2009 was
$3,712,573,424.54. The ratio of $3,712,573,424.54 to $2,763,287,237.04
is 1.34353511. Multiplying 1.34353511 by $100 million yields
$134,353,511. Multiplying $50 million by 1.34353511 produces
$67,176,756. The Account balance on June 30, 2009, was $73,515,830.17.
Accordingly, the surcharge rate for calendar year 2010 is 1.5 percent.
Monthly Compensation Base
For years after 1988, section 1(i) of the Act contains a formula
for determining the monthly compensation base. Under the prescribed
formula, the monthly compensation base increases by approximately two-
thirds of the cumulative growth in average national wages since 1984.
The monthly compensation base for months in calendar year 2010 shall be
equal to the greater of (a) $600 or (b) $600 [1 + {(A--37,800)/
56,700{time} ], where A equals the amount of the applicable base with
respect to tier 1 taxes for 2010 under section 3231(e)(2) of the
Internal Revenue Code of 1986. Section 1(i) further provides that if
the amount so determined is not a multiple of $5, it shall be rounded
to the nearest multiple of $5.
The calendar year 2010 tier 1 tax base is $106,800. Subtracting
$37,800 from
[[Page 56675]]
$106,800 produces $69,000. Dividing $69,000 by $56,700 yields a ratio
of 1.21693122. Adding one gives 2.21693122. Multiplying $600 by the
amount 2.21693122 produces the amount of $1,330.16, which must then be
rounded to $1,330. Accordingly, the monthly compensation base is
determined to be $1,330 for months in calendar year 2010.
Amounts Related to Changes in Monthly Compensation Base
For years after 1988, sections 1(k), 3, 4(a-2)(i)(A) and 2(c) of
the Act contain formulas for determining amounts related to the monthly
compensation base.
Under section 1(k), remuneration earned from employment covered
under the Act cannot be considered subsidiary remuneration if the
employee's base year compensation is less than 2.5 times the monthly
compensation base for months in such base year. Under section 3, an
employee shall be a ``qualified employee'' if his/her base year
compensation is not less than 2.5 times the monthly compensation base
for months in such base year. Under section 4(a-2)(i)(A), an employee
who leaves work voluntarily without good cause is disqualified from
receiving unemployment benefits until he has been paid compensation of
not less than 2.5 times the monthly compensation base for months in the
calendar year in which the disqualification ends.
Multiplying 2.5 by the calendar year 2010 monthly compensation base
of $1,330 produces $3,325. Accordingly, the amount determined under
sections 1(k), 3 and 4(a-2)(i)(A) is $3,325 for calendar year 2010.
Under section 2(c), the maximum amount of normal benefits paid for
days of unemployment within a benefit year and the maximum amount of
normal benefits paid for days of sickness within a benefit year shall
not exceed an employee's compensation in the base year. In determining
an employee's base year compensation, any money remuneration in a month
not in excess of an amount that bears the same ratio to $775 as the
monthly compensation base for that year bears to $600 shall be taken
into account.
The calendar year 2010 monthly compensation base is $1,330. The
ratio of $1,330 to $600 is 2.21666667. Multiplying 2.21666667 by $775
produces $1,718. Accordingly, the amount determined under section 2(c)
is $1,718 for months in calendar year 2010.
Maximum Daily Benefit Rate
Section 2(a)(3) contains a formula for determining the maximum
daily benefit rate for registration periods beginning after June 30,
1989, and after each June 30 thereafter. Legislation enacted on October
9, 1996, revised the formula for indexing maximum daily benefit rates.
Under the prescribed formula, the maximum daily benefit rate increases
by approximately two-thirds of the cumulative growth in average
national wages since 1984. The maximum daily benefit rate for
registration periods beginning after June 30, 2010, shall be equal to 5
percent of the monthly compensation base for the base year immediately
preceding the beginning of the benefit year. Section 2(a)(3) further
provides that if the amount so computed is not a multiple of $1, it
shall be rounded down to the nearest multiple of $1.
The calendar year 2009 monthly compensation base is $1,330.
Multiplying $1,330 by 0.05 yields $66.50, which must then be rounded
down to $66. Accordingly, the maximum daily benefit rate for days of
unemployment and days of sickness beginning in registration periods
after June 30, 2010, is determined to be $66.
Dated: October 27, 2009.
By Authority of the Board.
Beatrice Ezerski,
Secretary to the Board.
[FR Doc. E9-26298 Filed 10-30-09; 8:45 am]
BILLING CODE 7905-01-P
