2022 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 64534-64536 [2021-25154]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES 64534 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices obtain information relevant to an OSHRC decision concerning the hiring, appointment, or retention of an employee; the issuance, renewal, suspension, or revocation of a security clearance; the execution of a security or suitability investigation; the letting of a contract; or the issuance of a license, grant or other benefit. 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(6) To OPM in accordance with the agency’s responsibilities for evaluation and oversight of federal personnel management. (7) To officers and employees of a federal agency for the purpose of conducting an audit, but only to the extent that the record is relevant and necessary to this purpose. (8) To OMB in connection with the review of private relief legislation at any stage of the legislative coordination and clearance process, as set forth in Circular No. A–19. (9) To a Member of Congress or to a person on his or her staff acting on the Member’s behalf when a written request is made on behalf and at the behest of the individual who is the subject of the record. (10) To the National Archives and Records Administration (NARA) for records management inspections and such other purposes conducted under the authority of 44 U.S.C. 2904 and 2906. (11) To appropriate agencies, entities, and persons when: (a) OSHRC suspects or has confirmed that there has been a breach of the system of records; (b) OSHRC has determined that as a result of the suspected or confirmed breach there is a risk of harm to individuals, OSHRC, the Federal Government, or national security; and (c) the disclosure VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 made to such agencies, entities, and persons is reasonably necessary to assist in connection with OSHRC’s efforts to respond to the suspected or confirmed breach or to prevent, minimize, or remedy such harm. (12) To NARA, Office of Government Information Services (OGIS), to the extent necessary to fulfill its responsibilities in 5 U.S.C. 552(h), to review administrative agency policies, procedures and compliance with FOIA, and to facilitate OGIS’ offering of mediation services to resolve disputes between persons making FOIA requests and administrative agencies. (13) To another federal agency or federal entity, when OSHRC determines that information from this system of records is reasonably necessary to assist the recipient agency or entity in (a) responding to a suspected or confirmed breach or (b) preventing, minimizing, or remedying the risk of harm to individuals, the recipient agency or entity (including its information systems, programs, and operations), the Federal Government, or national security, resulting from a suspected or confirmed breach. (14) To medical professionals, when the requester has signed a limited release, authorizing OSHRC to seek additional information directly from the medical provider, or when OSHRC has determined that medical information must be reviewed by other medical experts to make a reasonable accommodation determination. POLICIES AND PRACTICES FOR STORAGE OF RECORDS: Records are stored on paper in locked file cabinets at OSHRC’s National Office in Washington, DC, and electronically on an access-restricted shared OSHRC drive. electronic records maintained on an OSHRC shared drive is restricted to personnel who require access to perform their official functions. RECORD ACCESS PROCEDURES: Individuals who wish to gain access to their records should notify: Privacy Officer, OSHRC, 1120 20th Street NW, Ninth Floor, Washington, DC 20036– 3457. For an explanation on how such requests should be drafted, refer to 29 CFR 2400.4 (procedures for requesting notification of and access to personal records). CONTESTING RECORD PROCEDURES: Individuals who wish to contest their records should notify: Privacy Officer, OSHRC, 1120 20th Street NW, Ninth Floor, Washington, DC 20036–3457. For an explanation on the specific procedures for contesting the contents of a record, refer to 29 CFR 2400.6 (procedures for amending personal records), and 29 CFR 2400.7 (procedures for appealing). NOTIFICATION PROCEDURES: Individuals interested in inquiring about their records should notify: Privacy Officer, OSHRC, 1120 20th Street NW, Ninth Floor, Washington, DC 20036–3457. For an explanation on how such requests should be drafted, refer to 29 CFR 2400.4 (procedures for requesting notification of and access to personal records). EXEMPTIONS PROMULGATED FOR THE SYSTEM: None. HISTORY: None. Nadine N. Mancini, Senior Agency Official for Privacy. [FR Doc. 2021–25166 Filed 11–17–21; 8:45 am] BILLING CODE 7600–01–P POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS: Records are retrieved manually or electronically by an individual’s name. POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS: Records are retained and disposed of in accordance with NARA’s General Records Schedule 2.1, Item 140 (applicants); and General Records Schedule 2.3, Item 20 (employees). ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS: Paper records are maintained in offices and locked file cabinets. During duty hours, the records are under surveillance of personnel charged with their custody. After duty hours, the offices are accessible only using an office key or access card. Access to PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 RAILROAD RETIREMENT BOARD 2022 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations Railroad Retirement Board. Notice. AGENCY: ACTION: As required by the Railroad Unemployment Insurance Act (Act), the Railroad Retirement Board (RRB) hereby publishes its notice for calendar year 2022 of account balances, factors used in calculating experience-based employer contribution rates, computation of amounts related to the monthly compensation base, and the maximum daily benefit rate for days of unemployment or sickness. SUMMARY: E:\FR\FM\18NON1.SGM 18NON1 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices The balance in notice (1) and the determinations made in notices (3) through (7) are based on data as of June 30, 2021. The balance in notice (2) is based on data as of September 30, 2021. 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 2022. The determinations made in notices (8) through (11) are effective January 1, 2022. The determination made in notice (12) is effective for registration periods beginning after June 30, 2022. ADDRESSES: Secretary to the Board, Railroad Retirement Board, 844 N Rush Street, Chicago, Illinois 60611–1275. FOR FURTHER INFORMATION CONTACT: Michael J. Rizzo, Bureau of the Actuary and Research, Railroad Retirement Board, 844 N Rush Street, Chicago, Illinois 60611–1275, 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, 2021, the computation of the calendar year 2022 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, 2022, 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, 2022. 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 accrual balance of the Railroad Unemployment Insurance (RUI) Account, as of June 30, 2021, is ($46,213,371.39); 2. The September 30, 2021, balance of any new loans to the RUI Account, including accrued interest, is $105,399,084.73; 3. The system compensation base is $3,778,489,820.38 as of June 30, 2021; 4. The cumulative system unallocated charge balance is ($465,529,620.69) as of June 30, 2021; khammond on DSKJM1Z7X2PROD with NOTICES DATES: VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 5. The pooled credit ratio for calendar year 2022 is zero; 6. The pooled charged ratio for calendar year 2022 is zero; 7. The surcharge rate for calendar year 2022 is 3.5 percent; 8. The monthly compensation base under section 1(i) of the Act is $1,755 for months in calendar year 2022; 9. The amount described in sections 1(k) and 3 of the Act as ‘‘2.5 times the monthly compensation base’’ is $4,387.50 for base year (calendar year) 2022; 10. The amount described in section 4(a–2)(i)(A) of the Act as ‘‘2.5 times the monthly compensation base’’ is $4,387.50 with respect to disqualifications ending in calendar year 2022; 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 $2,267 for months in calendar year 2022; 12. The maximum daily benefit rate under section 2(a)(3) of the Act is $85 with respect to days of unemployment and days of sickness in registration periods beginning after June 30, 2022. 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, 2021 system compensation base of $3,778,489,820.38 to the June 30, 1991 system compensation base of $2,763,287,237.04 is 1.36738945. Multiplying 1.36738945 by $100 million yields $136,738,945.00. Multiplying $50 million by 1.36738945 produces $68,369,472.50. The Account balance on June 30, 2021, was ($46,213,371.39). Accordingly, the surcharge rate for calendar year 2022 is 3.5 percent. PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 64535 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 2022 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 2022 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 2022 tier 1 tax base of $147,000 for A above produces the amount of $1,755.56, which must then be rounded to $1,755. Accordingly, the monthly compensation base is determined to be $1,755 for months in calendar year 2022. 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 2022 monthly compensation base of $1,755 produces $4,387.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $4,387.50 for calendar year 2022. 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 E:\FR\FM\18NON1.SGM 18NON1 64536 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices 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 2022 monthly compensation base is $1,755. The ratio of $1,755 to $600 is 2.92500000. Multiplying 2.92500000 by $775 produces $2,267. Accordingly, the amount determined under section 2(c) is $2,267 for months in calendar year 2022. 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, 2022, 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 2021 monthly compensation base is $1,710. Multiplying $1,710 by 0.05 yields $85.50. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2022, is determined to be $85. By Authority of the Board. Stephanie Hillyard, Secretary to the Board. [FR Doc. 2021–25154 Filed 11–17–21; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION khammond on DSKJM1Z7X2PROD with NOTICES [SEC File No. 270–638, OMB Control No. 3235–0687] Proposed Collection; Comment Request Upon Written Request Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 Extension: Rule 239 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 collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 239 (17 CFR 230.239) provides exemptions under the Securities Act of 1933 (15 U.S.C. 77a et seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) and the Trust Indenture Act of 1939 (U.S.C. 77aaa et seq.) for security-based swaps issued by certain clearing agencies satisfying certain conditions. The purpose of the information required by Rule 239 is to make certain information about security-based swaps that may be cleared by the registered or the exempt clearing agencies available to eligible contract participants and other market participants. We estimate that each registered or exempt clearing agency issuing security-based swaps in its function as a central counterparty will spend approximately 2 hours each time it provides or update the information in its agreements relating to security-based swaps or on its website. We estimate that each registered or exempt clearing agency will provide or update the information approximately 20 times per year. In addition, we estimate that 75% of the 2 hours per response (1.5 hours) is prepared internally by the clearing agency for a total annual reporting burden of 180 hours (1.5 hours per response × 20 times × 6 respondents). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 unless it displays a currently valid control number. Please direct your written comment to David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: November 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–25170 Filed 11–17–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93558; File No. SR– NASDAQ–2021–088] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Equity 7, Section 118 of the Fee Schedule November 12, 2021. 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 November 1, 2021, The Nasdaq Stock Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. 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 Substance of the Proposed Rule Change The Exchange proposes to amend the Exchange’s pricing schedule at Equity 7, Section 118(a), as described further below. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/nasdaq/rules, 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 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 86, Number 220 (Thursday, November 18, 2021)]
[Notices]
[Pages 64534-64536]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25154]


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RAILROAD RETIREMENT BOARD


2022 Railroad Experience Rating Proclamations, Monthly 
Compensation Base and Other Determinations

AGENCY: Railroad Retirement Board.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: As required by the Railroad Unemployment Insurance Act (Act), 
the Railroad Retirement Board (RRB) hereby publishes its notice for 
calendar year 2022 of account balances, factors used in calculating 
experience-based employer contribution rates, computation of amounts 
related to the monthly compensation base, and the maximum daily benefit 
rate for days of unemployment or sickness.

[[Page 64535]]


DATES: The balance in notice (1) and the determinations made in notices 
(3) through (7) are based on data as of June 30, 2021. The balance in 
notice (2) is based on data as of September 30, 2021. 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 2022. The determinations made in notices (8) 
through (11) are effective January 1, 2022. The determination made in 
notice (12) is effective for registration periods beginning after June 
30, 2022.

ADDRESSES: Secretary to the Board, Railroad Retirement Board, 844 N 
Rush Street, Chicago, Illinois 60611-1275.

FOR FURTHER INFORMATION CONTACT: Michael J. Rizzo, Bureau of the 
Actuary and Research, Railroad Retirement Board, 844 N Rush Street, 
Chicago, Illinois 60611-1275, 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, 2021, the computation of the calendar year 2022 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, 2022, 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, 2022. 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 accrual balance of the Railroad Unemployment Insurance (RUI) 
Account, as of June 30, 2021, is ($46,213,371.39);
    2. The September 30, 2021, balance of any new loans to the RUI 
Account, including accrued interest, is $105,399,084.73;
    3. The system compensation base is $3,778,489,820.38 as of June 30, 
2021;
    4. The cumulative system unallocated charge balance is 
($465,529,620.69) as of June 30, 2021;
    5. The pooled credit ratio for calendar year 2022 is zero;
    6. The pooled charged ratio for calendar year 2022 is zero;
    7. The surcharge rate for calendar year 2022 is 3.5 percent;
    8. The monthly compensation base under section 1(i) of the Act is 
$1,755 for months in calendar year 2022;
    9. The amount described in sections 1(k) and 3 of the Act as ``2.5 
times the monthly compensation base'' is $4,387.50 for base year 
(calendar year) 2022;
    10. The amount described in section 4(a-2)(i)(A) of the Act as 
``2.5 times the monthly compensation base'' is $4,387.50 with respect 
to disqualifications ending in calendar year 2022;
    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 
$2,267 for months in calendar year 2022;
    12. The maximum daily benefit rate under section 2(a)(3) of the Act 
is $85 with respect to days of unemployment and days of sickness in 
registration periods beginning after June 30, 2022.

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, 2021 system compensation base of 
$3,778,489,820.38 to the June 30, 1991 system compensation base of 
$2,763,287,237.04 is 1.36738945. Multiplying 1.36738945 by $100 million 
yields $136,738,945.00. Multiplying $50 million by 1.36738945 produces 
$68,369,472.50. The Account balance on June 30, 2021, was 
($46,213,371.39). Accordingly, the surcharge rate for calendar year 
2022 is 3.5 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 2022 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 2022 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 2022 tier 1 tax base of $147,000 for A 
above produces the amount of $1,755.56, which must then be rounded to 
$1,755. Accordingly, the monthly compensation base is determined to be 
$1,755 for months in calendar year 2022.

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 2022 monthly compensation base 
of $1,755 produces $4,387.50. Accordingly, the amount determined under 
sections 1(k), 3 and 4(a-2)(i)(A) is $4,387.50 for calendar year 2022.
    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

[[Page 64536]]

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 2022 monthly compensation base is $1,755. The 
ratio of $1,755 to $600 is 2.92500000. Multiplying 2.92500000 by $775 
produces $2,267. Accordingly, the amount determined under section 2(c) 
is $2,267 for months in calendar year 2022.

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, 2022, 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 2021 monthly compensation base is $1,710. 
Multiplying $1,710 by 0.05 yields $85.50. Accordingly, the maximum 
daily benefit rate for days of unemployment and days of sickness 
beginning in registration periods after June 30, 2022, is determined to 
be $85.

    By Authority of the Board.
Stephanie Hillyard,
Secretary to the Board.
[FR Doc. 2021-25154 Filed 11-17-21; 8:45 am]
BILLING CODE 7905-01-P