2013 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 66876-66877 [2012-27113]

Download as PDF 66876 Federal Register / Vol. 77, No. 216 / Wednesday, November 7, 2012 / Notices For the Nuclear Regulatory Commission. Eric J. Leeds, Director, Office of Nuclear Reactor Regulation. RAILROAD RETIREMENT BOARD [FR Doc. 2012–27192 Filed 11–6–12; 8:45 am] 2013 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations BILLING CODE 7590–01–P AGENCY: ACTION: Railroad Retirement Board. Notice. 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, 2012, is $184,918,694.78; 2. The September 30, 2012, balance of any new loans to the RUI Account, including accrued interest, is zero; 3. The system compensation base is $3,792,951,628.64 as of June 30, 2012; 4. The cumulative system unallocated charge balance is ($348,280,856.36) as of June 30, 2012; 5. The pooled credit ratio for calendar year 2013 is zero; 6. The pooled charged ratio for calendar year 2013 is zero; 7. The surcharge rate for calendar year 2013 is zero; 8. The monthly compensation base under section 1(i) of the Act is $1,405 for months in calendar year 2013; 9. The amount described in sections 1(k) and 3 of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,512.50 for base year (calendar year) 2013; 10. The amount described in section 4(a–2)(i)(A) of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,512.50 with respect to disqualifications ending in calendar year 2013; 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 $1,815 for months in calendar year 2013; 12. The maximum daily benefit rate under section 2(a)(3) of the Act is $68 with respect to days of unemployment and days of sickness in registration periods beginning after June 30, 2013. DATES: The balance in notice (1) and the determinations made in notices (3) through (7) are based on data as of June 30, 2012. The balance in notice (2) is based on data as of September 30, 2012. 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 2013. The determinations made in notices (8) SUMMARY: PRESIDIO TRUST Notice of Public Meeting AGENCY: ACTION: The Presidio Trust. Notice of Public Meeting. In accordance with § 103(c)(6) of the Presidio Trust Act, 16 U.S.C. 460bb appendix, and in accordance with the Presidio Trust’s bylaws, notice is hereby given that a public meeting of the Presidio Trust Board of Directors will be held commencing 6:30 p.m. on Thursday, November 29, 2012, at the Golden Gate Club, 135 Fisher Loop, Presidio of San Francisco, California. The Presidio Trust was created by Congress in 1996 to manage approximately eighty percent of the former U.S. Army base known as the Presidio, in San Francisco, California. The purposes of this meeting are to take action on the minutes of a previous Board meeting, to provide the Chairperson’s report, to provide the Executive Director’s report, to provide partners’ reports, to provide program updates, to receive public comment on a proposed use limit on commercial dog walking, and to receive public comment on other matters in accordance with the Trust’s Public Outreach Policy. Individuals requiring special accommodation at this meeting, such as needing a sign language interpreter, should contact Mollie Matull at 415.561.5300 prior to November 22, 2012. SUMMARY: Time: The meeting will begin at 6:30 p.m. on Thursday, November 29, 2012. DATES: The meeting will be held at the Golden Gate Club, 135 Fisher Loop, Presidio of San Francisco. ADDRESSES: pmangrum on DSK3VPTVN1PROD with NOTICES FOR FURTHER INFORMATION CONTACT: Karen Cook, General Counsel, the Presidio Trust, 34 Graham Street, P.O. Box 29052, San Francisco, California 94129–0052, Telephone: 415.561.5300. Dated: October 30, 2012. Karen A. Cook, General Counsel. [FR Doc. 2012–27123 Filed 11–6–12; 8:45 am] BILLING CODE 4310–4R–P VerDate Mar<15>2010 15:43 Nov 06, 2012 Jkt 229001 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 through (11) are effective January 1, 2013. The determination made in notice (12) is effective for registration periods beginning after June 30, 2013. 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, 2012, the computation of the calendar year 2013 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, 2013, 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, 2013. 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, 2012 was $3,792,951,628.64. The ratio of $3,792,951,628.64 to $2,763,287,237.04 is 1.37262300. E:\FR\FM\07NON1.SGM 07NON1 Federal Register / Vol. 77, No. 216 / Wednesday, November 7, 2012 / Notices Multiplying 1.37262300 by $100 million yields $137,262,300. Multiplying $50 million by 1.37262300 produces $68,631,150. The Account balance on June 30, 2012, was $184,918,694.78. Accordingly, the surcharge rate for calendar year 2013 is zero. pmangrum on DSK3VPTVN1PROD with NOTICES 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 2013 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 2013 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 2013 tier 1 tax base is $113,700. Subtracting $37,800 from $113,700 produces $75,900. Dividing $75,900 by $56,700 yields a ratio of 1.33862434. Adding one gives 2.33862434. Multiplying $600 by the amount 2.33862434 produces the amount of $1,403.17, which must then be rounded to $1,405. Accordingly, the monthly compensation base is determined to be $1,405 for months in calendar year 2013. 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. VerDate Mar<15>2010 15:43 Nov 06, 2012 Jkt 229001 Multiplying 2.5 by the calendar year 2013 monthly compensation base of $1,405 produces $3,512.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $3,512.50 for calendar year 2013. 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 2013 monthly compensation base is $1,405. The ratio of $1,405 to $600 is 2.34166667. Multiplying 2.34166667 by $775 produces $1,815. Accordingly, the amount determined under section 2(c) is $1,815 for months in calendar year 2013. 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, 2013, 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 2012 monthly compensation base is $1,365. Multiplying $1,365 by 0.05 yields $68.25, which must then be rounded down to $68. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2013, is determined to be $68. Dated: October 31, 2012. By Authority of the Board. Martha P. Rico, Secretary to the Board. [FR Doc. 2012–27113 Filed 11–6–12; 8:45 am] BILLING CODE 7905–01–P PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 66877 RAILROAD RETIREMENT BOARD Agency Forms Submitted for OMB Review, Request for Comments In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), the Railroad Retirement Board (RRB) is forwarding three Information Collection Requests (ICR) to the Office of Information and Regulatory Affairs (OIRA), Office of Management and Budget (OMB). Our ICR describes the information we seek to collect from the public. Review and approval by OIRA ensures that we impose appropriate paperwork burdens. The RRB invites comments on the proposed collections of information to determine (1) the practical utility of the collections; (2) the accuracy of the estimated burden of the collections; (3) ways to enhance the quality, utility, and clarity of the information that is the subject of collection; and (4) ways to minimize the burden of collections on respondents, including the use of automated collection techniques or other forms of information technology. Comments to the RRB or OIRA must contain the OMB control number of the ICR. For proper consideration of your comments, it is best if the RRB and OIRA receive them within 30 days of the publication date. 1. Title and purpose of information collection: Application for Employee Annuity Under the Railroad Retirement Act; OMB 3220–0002. Section 2a of the Railroad Retirement Act (RRA) provides for payments of age and service, disability, and supplemental annuities to qualified employees. An annuity cannot be paid until the employee stops working for a railroad employer. In addition, the age and service employee must relinquish any rights held to such a job. A disabled employee does not need to relinquish employee rights until attaining Full Retirement Age, or if earlier, when their spouse files for a spouse annuity. Benefits become payable after the employee meets certain other requirements, which depend on the type of annuity payable. The requirements for obtaining the annuities are prescribed in 20 CFR 216 and 220. To collect the information needed to help determine an applicant’s entitlement to, and the amount of, an employee retirement annuity the RRB uses Forms AA–1, Application for Employee Annuity; AA–1d, Application for Determination of Employee Disability; G–204, Verification of Workers Compensation/Public Disability Benefit Information and electronic Form SUMMARY: E:\FR\FM\07NON1.SGM 07NON1

Agencies

[Federal Register Volume 77, Number 216 (Wednesday, November 7, 2012)]
[Notices]
[Pages 66876-66877]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27113]


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RAILROAD RETIREMENT BOARD


2013 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, 2012, is $184,918,694.78;
    2. The September 30, 2012, balance of any new loans to the RUI 
Account, including accrued interest, is zero;
    3. The system compensation base is $3,792,951,628.64 as of June 30, 
2012;
    4. The cumulative system unallocated charge balance is 
($348,280,856.36) as of June 30, 2012;
    5. The pooled credit ratio for calendar year 2013 is zero;
    6. The pooled charged ratio for calendar year 2013 is zero;
    7. The surcharge rate for calendar year 2013 is zero;
    8. The monthly compensation base under section 1(i) of the Act is 
$1,405 for months in calendar year 2013;
    9. The amount described in sections 1(k) and 3 of the Act as ``2.5 
times the monthly compensation base'' is $3,512.50 for base year 
(calendar year) 2013;
    10. The amount described in section 4(a-2)(i)(A) of the Act as 
``2.5 times the monthly compensation base'' is $3,512.50 with respect 
to disqualifications ending in calendar year 2013;
    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 
$1,815 for months in calendar year 2013;
    12. The maximum daily benefit rate under section 2(a)(3) of the Act 
is $68 with respect to days of unemployment and days of sickness in 
registration periods beginning after June 30, 2013.

DATES: The balance in notice (1) and the determinations made in notices 
(3) through (7) are based on data as of June 30, 2012. The balance in 
notice (2) is based on data as of September 30, 2012. 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 2013. The determinations made in notices (8) 
through (11) are effective January 1, 2013. The determination made in 
notice (12) is effective for registration periods beginning after June 
30, 2013.

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, 2012, the computation of the calendar year 2013 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, 2013, 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, 2013.

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, 2012 was 
$3,792,951,628.64. The ratio of $3,792,951,628.64 to $2,763,287,237.04 
is 1.37262300.

[[Page 66877]]

Multiplying 1.37262300 by $100 million yields $137,262,300. Multiplying 
$50 million by 1.37262300 produces $68,631,150. The Account balance on 
June 30, 2012, was $184,918,694.78. Accordingly, the surcharge rate for 
calendar year 2013 is zero.

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 2013 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 2013 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 2013 tier 1 tax base is $113,700. Subtracting 
$37,800 from $113,700 produces $75,900. Dividing $75,900 by $56,700 
yields a ratio of 1.33862434. Adding one gives 2.33862434. Multiplying 
$600 by the amount 2.33862434 produces the amount of $1,403.17, which 
must then be rounded to $1,405. Accordingly, the monthly compensation 
base is determined to be $1,405 for months in calendar year 2013.

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 2013 monthly compensation base 
of $1,405 produces $3,512.50. Accordingly, the amount determined under 
sections 1(k), 3 and 4(a-2)(i)(A) is $3,512.50 for calendar year 2013.
    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 2013 monthly compensation base is $1,405. The 
ratio of $1,405 to $600 is 2.34166667. Multiplying 2.34166667 by $775 
produces $1,815. Accordingly, the amount determined under section 2(c) 
is $1,815 for months in calendar year 2013.

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, 2013, 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 2012 monthly compensation base is $1,365. 
Multiplying $1,365 by 0.05 yields $68.25, which must then be rounded 
down to $68. Accordingly, the maximum daily benefit rate for days of 
unemployment and days of sickness beginning in registration periods 
after June 30, 2013, is determined to be $68.

    Dated: October 31, 2012.

    By Authority of the Board.
Martha P. Rico,
Secretary to the Board.
[FR Doc. 2012-27113 Filed 11-6-12; 8:45 am]
BILLING CODE 7905-01-P