2017 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 75454-75456 [2016-26167]

Download as PDF sradovich on DSK3GMQ082PROD with NOTICES 75454 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: October 25, 2016; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Helen Fonda; Comments Due: November 2, 2016. 4. Docket No(s).: MC2017–9 and CP2017–24; Filing Title: Request of the United States Postal Service to Add Priority Mail Contract 251 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: October 25, 2016; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Kenneth R. Moeller; Comments Due: November 2, 2016. 5. Docket No(s).: MC2017–10 and CP2017–25; Filing Title: Request of the United States Postal Service to Add Priority Mail Contract 252 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: October 25, 2016; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Kenneth R. Moeller; Comments Due: November 2, 2016. 6. Docket No(s).: MC2017–11 and CP2017–26; Filing Title: Request of the United States Postal Service to Add Priority Mail Contract 253 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: October 25, 2016; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Curtis E. Kidd; Comments Due: November 2, 2016. 7. Docket No(s).: MC2017–12 and CP2017–27; Filing Title: Request of the United States Postal Service to Add Priority Mail Express Contract 43 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision, Contract, and Supporting Data; Filing Acceptance Date: October 25, 2016; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Curtis E. Kidd; Comments Due: November 2, 2016. This notice will be published in the Federal Register. Stacy L. Ruble, Secretary. [FR Doc. 2016–26215 Filed 10–28–16; 8:45 am] BILLING CODE 7710–FW–P VerDate Sep<11>2014 17:53 Oct 28, 2016 Jkt 241001 POSTAL REGULATORY COMMISSION [Docket No. CP2017–21] New Postal Product Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing recent Postal Service filing for the Commission’s consideration concerning a negotiated service agreement. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: November 1, 2016. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at http:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: SUMMARY: Table of Contents I. Introduction II. Docketed Proceeding(s) I. Introduction The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or removal of a negotiated service agreement from the market dominant or the competitive product list, or the modification of an existing product currently appearing on the market dominant or the competitive product list. Section II identifies the docket number(s) associated with each Postal Service request, the title of each Postal Service request, the request’s acceptance date, and the authority cited by the Postal Service for each request. For each request, the Commission appoints an officer of the Commission to represent the interests of the general public in the proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also establishes comment deadline(s) pertaining to each request. The public portions of the Postal Service’s request(s) can be accessed via the Commission’s Web site (http:// www.prc.gov). Non-public portions of the Postal Service’s request(s), if any, can be accessed through compliance with the requirements of 39 CFR 3007.40. PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 The Commission invites comments on whether the Postal Service’s request(s) in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern market dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3010, and 39 CFR part 3020, subpart B. For request(s) that the Postal Service states concern competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3015, and 39 CFR part 3020, subpart B. Comment deadline(s) for each request appear in section II. II. Docketed Proceeding(s) 1. Docket No(s).: CP2017–21; Filing Title: Notice of United States Postal Service of Filing a Functionally Equivalent Global Expedited Package Services 3 Negotiated Service Agreement and Application for NonPublic Treatment of Materials Filed Under Seal; Filing Acceptance Date: October 24, 2016; Filing Authority: 39 CFR 3015.5; Public Representative: Jennaca D. Upperman; Comments Due: November 1, 2016. This notice will be published in the Federal Register. Stacy L. Ruble, Secretary. [FR Doc. 2016–26140 Filed 10–28–16; 8:45 am] BILLING CODE 7710–FW–P RAILROAD RETIREMENT BOARD 2017 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, 2016, is $93,849,116.28; 2. The September 30, 2016, balance of any new loans to the RUI Account, including accrued interest, is zero; 3. The system compensation base is $4,224,601,102.31 as of June 30, 2016; 4. The cumulative system unallocated charge balance is ($408,501,327.51) as of June 30, 2016; 5. The pooled credit ratio for calendar year 2017 is zero; SUMMARY: E:\FR\FM\31OCN1.SGM 31OCN1 sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices 6. The pooled charged ratio for calendar year 2017 is zero; 7. The surcharge rate for calendar year 2017 is 1.5 percent; 8. The monthly compensation base under section 1(i) of the Act is $1,545 for months in calendar year 2017; 9. The amount described in sections 1(k) and 3 of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,862.50 for base year (calendar year) 2017; 10. The amount described in section 4(a–2)(i)(A) of the Act as ‘‘2.5 times the monthly compensation base’’ is $3,862.50 with respect to disqualifications ending in calendar year 2017; 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 $1,996 for months in calendar year 2017; 12. The maximum daily benefit rate under section 2(a)(3) of the Act is $72 with respect to days of unemployment and days of sickness in registration periods beginning after June 30, 2017. DATES: The balance in notice (1) and the determinations made in notices (3) through (7) are based on data as of June 30, 2016. The balance in notice (2) is based on data as of September 30, 2016. 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 2017. The determinations made in notices (8) through (11) are effective January 1, 2017. The determination made in notice (12) is effective for registration periods beginning after June 30, 2017. ADDRESSES: Secretary to the Board, Railroad Retirement Board, 844 Rush Street, Chicago, Illinois 60611–2092. FOR FURTHER INFORMATION CONTACT: Michael J. Rizzo, Bureau of the Actuary, Railroad Retirement Board, 844 Rush Street, Chicago, Illinois 60611–2092, telephone (312) 751–4771. 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, 2016, the computation of the calendar year 2017 VerDate Sep<11>2014 17:53 Oct 28, 2016 Jkt 241001 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, 2017, 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, 2017. 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 ratio of the June 30, 2016 system compensation base of $4,224,601,102.31 to the June 30, 1991 system compensation base of $2,763,287,237.04 is 1.52883169. Multiplying 1.52883169 by $100 million yields $152,883,169.00. Multiplying $50 million by 1.52883169 produces $76,441,584.50. The Account balance on June 30, 2016, was $93,849,116.28. Accordingly, the surcharge rate for calendar year 2017 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 2017 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 2017 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. PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 75455 Using the calendar year 2017 tier 1 tax base of $127,200 for A above produces the amount of $1,546.03, which must then be rounded to $1,545. Accordingly, the monthly compensation base is determined to be $1,545 for months in calendar year 2017. 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 2017 monthly compensation base of $1,545 produces $3,862.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $3,862.50 for calendar year 2017. 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 2017 monthly compensation base is $1,545. The ratio of $1,545 to $600 is 2.57500000. Multiplying 2.57500000 by $775 produces $1,996. Accordingly, the amount determined under section 2(c) is $1,996 for months in calendar year 2017. 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 E:\FR\FM\31OCN1.SGM 31OCN1 75456 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices 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, 2017, 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 2016 monthly compensation base is $1,455. Multiplying $1,455 by 0.05 yields $72.75. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2017, is determined to be $72. Dated: October 26, 2016. By Authority of the Board. Martha P. Rico, Secretary to the Board. [FR Doc. 2016–26167 Filed 10–28–16; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: [81 FR 73459, October 25, 2016]. STATUS: PLACE: Open Meeting. 100 F Street NE., Washington, DC. DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: Wednesday, October 26, 2016 10:00 a.m. Time Change. The Open Meeting scheduled for Wednesday, October 26, 2016 at 10:00 a.m., has been changed to Wednesday, October 26, 2016 at 11:00 a.m. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. sradovich on DSK3GMQ082PROD with NOTICES CHANGE IN THE MEETING: Dated: October 26, 2016. Brent J. Fields, Secretary. [Release No. 34–79148; File No. SR– BatsBYX–2016–27] A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend BYX Rule 11.13, Order Execution and Routing October 25, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on October 12, 2016, Bats BYX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ‘‘non-controversial’’ proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6)(iii) thereunder,4 which renders it effective upon filing with the Commission. The 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 the Substance of the Proposed Rule Change The Exchange filed a proposal to amend Exchange Rule 11.13(b)(1) to describe when an order marked as ‘‘short’’ may be eligible for routing when a short sale price test restriction is in effect. The text of the proposed rule change is available at the Exchange’s Web site at www.batstrading.com, 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 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6)(iii). 2 17 BILLING CODE 8011–01–P 17:53 Oct 28, 2016 the most significant parts of such statements. 1 15 [FR Doc. 2016–26304 Filed 10–27–16; 11:15 am] VerDate Sep<11>2014 SECURITIES AND EXCHANGE COMMISSION Jkt 241001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 1. Purpose The Exchange proposes to amend Exchange Rule 11.13(b)(1) to describe when an order to sell marked 5 as ‘‘short’’ 6 may be eligible for routing when a short sale price test restriction is in effect. Under Rule 201 of Regulation SHO,7 short sale orders in a covered security 8 generally cannot be executed or displayed by a Trading Center,9 such as the Exchange, at a price that is at or below the current national best bid (‘‘NBB’’) 10 when a short sale circuit breaker is in effect for the covered security (the ‘‘short sale price test restriction’’).11 Under Rule 11.13(b)(1), an order marked ‘‘short’’ when a short sale price test restriction is in effect is not eligible for routing by the Exchange. If an order is ineligible for routing due to a short sale price test restriction and such order is an Immediate or Cancel (‘‘IOC’’) Order 12 or a BYX Market Order,13 then 5 17 CFR 242.200(g). term ‘‘short sale’’ is defined as ‘‘any sale of a security which the seller does not own or any sale which is consummated by the delivery of a security borrowed by, or for the account of, the seller.’’ 17 CFR 242.200(a). 7 See 17 CFR 242.201; Securities Exchange Act Release No. 61595 (February 26, 2010), 75 FR 11232 (March 10, 2010). 8 Rule 201(a)(1) of Regulation SHO defines the term ‘‘covered security’’ to mean any ‘‘NMS stock’’ as defined under Rule 600(b)(47) of Regulation NMS. Rule 600(b)(47) of Regulation NMS defines an ‘‘NMS stock’’ as ‘‘any NMS security other than an option.’’ Rule 600(b)(46) of Regulation NMS defines an ‘‘NMS security’’ as ‘‘any security or class of securities for which transaction reports are collected, processed, and made available pursuant to an effective transaction reporting plan, or an effective national market system plan for reporting transactions in listed options.’’ 17 CFR 242.201(a)(1); 17 CFR 242.600(b)(46); and 17 CFR 242.600(b)(47). 9 Rule 201(a)(9) of Regulation SHO states that the term ‘‘Trading Center’’ shall have the same meaning as in Rule 600(b)(78) of Regulation NMS. Rule 600(b)(78) of Regulation NMS defines a ‘‘Trading Center’’ as ‘‘a national securities exchange or national securities association that operates an SRO trading facility, an alternative trading system, an exchange market maker, an OTC market maker, or any other broker or dealer that executes orders internally by trading as principal or crossing orders as agent.’’ 17 CFR 242.200(a)(9); 17 CFR 242.600(b)(78). 10 17 CFR 242.201(a)(4); 17 CFR 242.600(b)(42). 11 17 CFR 242.201(b)(1). 12 See Exchange Rule 11.9(b)(1). 13 See Exchange Rule 11.9(a)(2). The Exchange also proposes to remove the reference to BYX Market Orders in Rule 11.13(b)(1) as BYX Market Orders with a time-in-force of Day that are ineligible for routing due to a short sale price test restriction pursuant to Rule 201 of Regulation SHO 6 The E:\FR\FM\31OCN1.SGM 31OCN1

Agencies

[Federal Register Volume 81, Number 210 (Monday, October 31, 2016)]
[Notices]
[Pages 75454-75456]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-26167]


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RAILROAD RETIREMENT BOARD


2017 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, 2016, is $93,849,116.28;
    2. The September 30, 2016, balance of any new loans to the RUI 
Account, including accrued interest, is zero;
    3. The system compensation base is $4,224,601,102.31 as of June 30, 
2016;
    4. The cumulative system unallocated charge balance is 
($408,501,327.51) as of June 30, 2016;
    5. The pooled credit ratio for calendar year 2017 is zero;

[[Page 75455]]

    6. The pooled charged ratio for calendar year 2017 is zero;
    7. The surcharge rate for calendar year 2017 is 1.5 percent;
    8. The monthly compensation base under section 1(i) of the Act is 
$1,545 for months in calendar year 2017;
    9. The amount described in sections 1(k) and 3 of the Act as ``2.5 
times the monthly compensation base'' is $3,862.50 for base year 
(calendar year) 2017;
    10. The amount described in section 4(a-2)(i)(A) of the Act as 
``2.5 times the monthly compensation base'' is $3,862.50 with respect 
to disqualifications ending in calendar year 2017;
    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 
$1,996 for months in calendar year 2017;
    12. The maximum daily benefit rate under section 2(a)(3) of the Act 
is $72 with respect to days of unemployment and days of sickness in 
registration periods beginning after June 30, 2017.

DATES: The balance in notice (1) and the determinations made in notices 
(3) through (7) are based on data as of June 30, 2016. The balance in 
notice (2) is based on data as of September 30, 2016. 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 2017. The determinations made in notices (8) 
through (11) are effective January 1, 2017. The determination made in 
notice (12) is effective for registration periods beginning after June 
30, 2017.

ADDRESSES: Secretary to the Board, Railroad Retirement Board, 844 Rush 
Street, Chicago, Illinois 60611-2092.

FOR FURTHER INFORMATION CONTACT: Michael J. Rizzo, Bureau of the 
Actuary, Railroad Retirement Board, 844 Rush Street, Chicago, Illinois 
60611-2092, telephone (312) 751-4771.

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, 2016, the computation of the calendar year 2017 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, 2017, 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, 2017.

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 ratio of the June 30, 2016 system compensation base of 
$4,224,601,102.31 to the June 30, 1991 system compensation base of 
$2,763,287,237.04 is 1.52883169. Multiplying 1.52883169 by $100 million 
yields $152,883,169.00. Multiplying $50 million by 1.52883169 produces 
$76,441,584.50. The Account balance on June 30, 2016, was 
$93,849,116.28. Accordingly, the surcharge rate for calendar year 2017 
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 2017 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 2017 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.
    Using the calendar year 2017 tier 1 tax base of $127,200 for A 
above produces the amount of $1,546.03, which must then be rounded to 
$1,545. Accordingly, the monthly compensation base is determined to be 
$1,545 for months in calendar year 2017.

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 2017 monthly compensation base 
of $1,545 produces $3,862.50. Accordingly, the amount determined under 
sections 1(k), 3 and 4(a-2)(i)(A) is $3,862.50 for calendar year 2017.
    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 2017 monthly compensation base is 
$1,545. The ratio of $1,545 to $600 is 2.57500000. Multiplying 
2.57500000 by $775 produces $1,996. Accordingly, the amount determined 
under section 2(c) is $1,996 for months in calendar year 2017.

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

[[Page 75456]]

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, 2017, 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 2016 monthly compensation base is $1,455. 
Multiplying $1,455 by 0.05 yields $72.75. Accordingly, the maximum 
daily benefit rate for days of unemployment and days of sickness 
beginning in registration periods after June 30, 2017, is determined to 
be $72.

    Dated: October 26, 2016.

    By Authority of the Board.
Martha P. Rico,
Secretary to the Board.
[FR Doc. 2016-26167 Filed 10-28-16; 8:45 am]
 BILLING CODE 7905-01-P