2022 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 64534-64536 [2021-25154]
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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.
(4) To a federal, state, or local agency,
in response to that agency’s request for
a record, and only to the extent that the
information is relevant and necessary to
the requesting agency’s decision in the
matter, if the record is sought in
connection with 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 by the requesting
agency.
(5) To an authorized appeal grievance
examiner, formal complaints manager,
equal employment opportunity
investigator, arbitrator, or other duly
authorized official engaged in
investigation or settlement of a
grievance, complaint, or appeal filed by
an employee, only to the extent that the
information is relevant and necessary to
the case or matter.
(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
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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
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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
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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:
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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;
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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.
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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
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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
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[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
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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
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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.
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]]>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
