2012 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 70515-70516 [2011-29351]

Download as PDF Federal Register / Vol. 76, No. 219 / Monday, November 14, 2011 / Notices Individuals requesting amendment must also follow OPM’s Privacy Act regulations regarding verification of identity and amendment to records (5 CFR part 297). In addition, the requester must provide a notarized statement or an unsworn declaration made in accordance with 28 U.S.C. 1746, in the following format: • If executed outside the United States: ‘I declare (or certify, verify, or state) under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed on [date]. [Signature].’ • If executed within the United States, its territories, possessions, or commonwealths: ‘I declare (or certify, verify, or state) under penalty of perjury that the foregoing is true and correct. Executed on [date]. [Signature].’ RECORD SOURCE CATEGORIES: Information in this system of records is obtained from: a. Individuals who request OPM review. b. Authorized representatives of covered individuals. c. Health care providers. d. Health insurance plans. e. Medical professionals providing expert medical review under contract with OPM. SYSTEM EXEMPTIONS: None. [FR Doc. 2011–29282 Filed 11–10–11; 8:45 am] BILLING CODE 6325–63–P RAILROAD RETIREMENT BOARD 2012 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations Railroad Retirement Board. Notice. AGENCY: ACTION: 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, 2011, is $66,198,068.70; 2. The September 30, 2011, balance of any new loans to the RUI Account, including accrued interest, is zero; 3. The system compensation base is $3,597,631,820.16 as of June 30, 2011; 4. The cumulative system unallocated charge balance is ($335,379,239.56) as of June 30, 2011; 5. The pooled credit ratio for calendar year 2012 is zero; mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 19:40 Nov 10, 2011 Jkt 226001 6. The pooled charged ratio for calendar year 2012 is zero; 7. The surcharge rate for calendar year 2012 is 1.5 percent; 8. The monthly compensation base under section 1(i) of the Act is $1,365 for months in calendar year 2012; 9. The amount described in sections 1(k) and 3 of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,412.50 for base year (calendar year) 2012; 10. The amount described in section 4(a–2)(i)(A) of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,412.50 with respect to disqualifications ending in calendar year 2012; 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 $1,763 for months in calendar year 2012; 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, 2012. DATES: The balance in notice (1) and the determinations made in notices (3) through (7) are based on data as of June 30, 2011. The balance in notice (2) is based on data as of September 30, 2011. 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 2012. The determinations made in notices (8) through (11) are effective January 1, 2012. The determination made in notice (12) is effective for registration periods beginning after June 30, 2012. 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, 2011, the computation of the calendar year 2012 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 70515 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, 2012, 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, 2012. 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, 2011 was $3,597,631,820.16. The ratio of $3,597,631,820.16 to $2,763,287,237.04 is 1.30193914. Multiplying 1.30193914 by $100 million yields $130,193,914. Multiplying $50 million by 1.30193914 produces $65,096,957. The Account balance on June 30, 2011, was $66,198,068.70. Accordingly, the surcharge rate for calendar year 2012 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 2012 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 2012 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. E:\FR\FM\14NON1.SGM 14NON1 70516 Federal Register / Vol. 76, No. 219 / Monday, November 14, 2011 / Notices The calendar year 2012 tier 1 tax base is $110,100. Subtracting $37,800 from $110,100 produces $72,300. Dividing $72,300 by $56,700 yields a ratio of 1.27513228. Adding one gives 2.27513228. Multiplying $600 by the amount 2.27513228 produces the amount of $1,365.08, which must then be rounded to $1,365. Accordingly, the monthly compensation base is determined to be $1,365 or months in calendar year 2012. mstockstill on DSK4VPTVN1PROD 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 2012 monthly compensation base of $1,365 produces $3,412.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $3,412.50 for calendar year 2012. 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 2012 monthly compensation base is $1,365. The ratio of $1,365 to $600 is 2.27500000. Multiplying 2.27500000 by $775 produces $1,763. Accordingly, the amount determined under section 2(c) is $1,763 for months in calendar year 2012. VerDate Mar<15>2010 19:40 Nov 10, 2011 Jkt 226001 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, 2012, 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 2011 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, 2012, is determined to be $66. Dated: November 7, 2011. By Authority of the Board. Martha P. Rico, Secretary to the Board. [FR Doc. 2011–29351 Filed 11–10–11; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION Exchange Act (15 U.S.C. 78l(g)) for foreign private issuers. Rule 12g3–2 is designed to provide investors in foreign securities with information about such securities and the foreign issuer. The information filed under Rule 12g3–2 must be filed with the Commission and is publicly available. We estimate that it takes approximately one hour to provide the information required under Rule 12g3–2 and that the information is filed by 1,800 foreign issuers for a total annual reporting time burden of 1,800 hours. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. The public may view the background documentation for this information collection at the following Web site, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 7, 2011. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2011–29251 Filed 11–10–11; 8:45 am] Submission for OMB Review; Comment Request BILLING CODE 8011–01–P Upon Written Request; Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. SECURITIES AND EXCHANGE COMMISSION Extension: Rule 12g3–2, OMB Control No. 3235–0119, SEC File No. 270–104. Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below. Rule 12g3–2 (17 CFR 240.12g3–2) under the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’) provides an exemption from Section 12(g) of the PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 Proposed Collection; Comment Request Extension: Rules 17Ad–6 and 17Ad–7, SEC File No. 270–151, OMB Control No. 3235–0291. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 17Ad–6 (17 CFR 240.17Ad–6) and Rule 17Ad–7 (17 CFR E:\FR\FM\14NON1.SGM 14NON1

Agencies

Railroad Retirement Board

[Federal Register Volume 76, Number 219 (Monday, November 14, 2011)]
[Notices]
[Pages 70515-70516]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-29351]


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RAILROAD RETIREMENT BOARD


2012 Railroad Experience Rating Proclamations, Monthly 
Compensation Base and Other Determinations

AGENCY: Railroad Retirement Board.

ACTION: Notice.

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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, 2011, is $66,198,068.70;
    2. The September 30, 2011, balance of any new loans to the RUI 
Account, including accrued interest, is zero;
    3. The system compensation base is $3,597,631,820.16 as of June 30, 
2011;
    4. The cumulative system unallocated charge balance is 
($335,379,239.56) as of June 30, 2011;
    5. The pooled credit ratio for calendar year 2012 is zero;
    6. The pooled charged ratio for calendar year 2012 is zero;
    7. The surcharge rate for calendar year 2012 is 1.5 percent;
    8. The monthly compensation base under section 1(i) of the Act is 
$1,365 for months in calendar year 2012;
    9. The amount described in sections 1(k) and 3 of the Act as ``2.5 
times the monthly compensation base'' is $3,412.50 for base year 
(calendar year) 2012;
    10. The amount described in section 4(a-2)(i)(A) of the Act as 
``2.5 times the monthly compensation base'' is $3,412.50 with respect 
to disqualifications ending in calendar year 2012;
    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 
$1,763 for months in calendar year 2012;
    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, 2012.

DATES: The balance in notice (1) and the determinations made in notices 
(3) through (7) are based on data as of June 30, 2011. The balance in 
notice (2) is based on data as of September 30, 2011. 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 2012. The determinations made in notices (8) 
through (11) are effective January 1, 2012. The determination made in 
notice (12) is effective for registration periods beginning after June 
30, 2012.

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, 2011, the computation of the calendar year 2012 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, 2012, 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, 2012.

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, 2011 was 
$3,597,631,820.16. The ratio of $3,597,631,820.16 to $2,763,287,237.04 
is 1.30193914. Multiplying 1.30193914 by $100 million yields 
$130,193,914. Multiplying $50 million by 1.30193914 produces 
$65,096,957. The Account balance on June 30, 2011, was $66,198,068.70. 
Accordingly, the surcharge rate for calendar year 2012 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 2012 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 2012 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.

[[Page 70516]]

    The calendar year 2012 tier 1 tax base is $110,100. Subtracting 
$37,800 from $110,100 produces $72,300. Dividing $72,300 by $56,700 
yields a ratio of 1.27513228. Adding one gives 2.27513228. Multiplying 
$600 by the amount 2.27513228 produces the amount of $1,365.08, which 
must then be rounded to $1,365. Accordingly, the monthly compensation 
base is determined to be $1,365 or months in calendar year 2012.

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 2012 monthly compensation base 
of $1,365 produces $3,412.50. Accordingly, the amount determined under 
sections 1(k), 3 and 4(a-2)(i)(A) is $3,412.50 for calendar year 2012.
    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 2012 monthly compensation base is $1,365. The 
ratio of $1,365 to $600 is 2.27500000. Multiplying 2.27500000 by $775 
produces $1,763. Accordingly, the amount determined under section 2(c) 
is $1,763 for months in calendar year 2012.

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, 2012, 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 2011 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, 2012, is determined to be $66.

    Dated: November 7, 2011.

    By Authority of the Board.
Martha P. Rico,
Secretary to the Board.
[FR Doc. 2011-29351 Filed 11-10-11; 8:45 am]
BILLING CODE 7905-01-P

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