2023 Railroad Experience Rating Proclamations, Monthly Compensation Base and Other Determinations, 74458-74459 [2022-26392]

Download as PDF 74458 DATES: Federal Register / Vol. 87, No. 232 / Monday, December 5, 2022 / Notices Comments are due: December 6, 2022. Submit comments electronically via the Commission’s Filing Online system at https:// 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: ADDRESSES: Table of Contents ddrumheller on DSK30NT082PROD with NOTICES 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 website (https:// 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 3011.301.1 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 3030, and 39 CFR part 3040, subpart B. For request(s) 1 See Docket No. RM2018–3, Order Adopting Final Rules Relating to Non-Public Information, June 27, 2018, Attachment A at 19–22 (Order No. 4679). VerDate Sep<11>2014 19:34 Dec 02, 2022 Jkt 259001 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 3035, and 39 CFR part 3040, subpart B. Comment deadline(s) for each request appear in section II. II. Docketed Proceeding(s) 1. Docket No(s).: MC2023–60 and CP2023–59; Filing Title: USPS Request to Add Priority Mail Contract 769 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: November 28, 2022; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 through 3040.135, and 39 CFR 3035.105; Public Representative: Christopher C. Mohr; Comments Due: December 6, 2022. 2. Docket No(s).: MC2023–61 and CP2023–60; Filing Title: USPS Request to Add Priority Mail Contract 770 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: November 28, 2022; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 through 3040.135, and 39 CFR 3035.105; Public Representative: Kenneth R. Moeller; Comments Due: December 6, 2022. This Notice will be published in the Federal Register. Erica A. Barker, Secretary. [FR Doc. 2022–26339 Filed 12–2–22; 8:45 am] BILLING CODE 7710–FW–P RAILROAD RETIREMENT BOARD 2023 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 2023 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. DATES: The balance in notice (1) and the determinations made in notices (3) through (7) are based on data as of June 30, 2022. The balance in notice (2) is based on data as of September 30, 2022. The determinations made in notices (5) through (7) apply to the calculation, under section 8(a)(1)(C) of the Act, of SUMMARY: PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 employer contribution rates for 2023. The determinations made in notices (8) through (11) are effective January 1, 2023. The determination made in notice (12) is effective for registration periods beginning after June 30, 2023. 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, 2022, the computation of the calendar year 2023 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, 2023, 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, 2023. 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, 2022, is $112,720,355.93; 2. The September 30, 2022, balance of any new loans to the RUI Account, including accrued interest, is $0.00; 3. The system compensation base is $3,810,748,651.25 as of June 30, 2022; 4. The cumulative system unallocated charge balance is ($466,677,550.51) as of June 30, 2022; 5. The pooled credit ratio for calendar year 2023 is zero; 6. The pooled charged ratio for calendar year 2023 is zero; 7. The surcharge rate for calendar year 2023 is 1.5 percent; 8. The monthly compensation base under section 1(i) of the Act is $1,895 for months in calendar year 2023; E:\FR\FM\05DEN1.SGM 05DEN1 Federal Register / Vol. 87, No. 232 / Monday, December 5, 2022 / Notices 9. The amount described in sections 1(k) and 3 of the Act as ‘‘2.5 times the monthly compensation base’’ is $4,737.50 for base year (calendar year) 2023; 10. The amount described in section 4(a–2)(i)(A) of the Act as ‘‘2.5 times the monthly compensation base’’ is $4,737.50 with respect to disqualifications ending in calendar year 2023; 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 $2,448 for months in calendar year 2023; 12. The maximum daily benefit rate under section 2(a)(3) of the Act is $87 with respect to days of unemployment and days of sickness in registration periods beginning after June 30, 2023. ddrumheller on DSK30NT082PROD with NOTICES 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, 2022 system compensation base of $3,810,748,651.25 to the June 30, 1991 system compensation base of $2,763,287,237.04 is 1.37906353. Multiplying 1.37906353 by $100 million yields $137,906,353.00. Multiplying $50 million by 1.37906353 produces $68,953,176.50. The Account balance on June 30, 2022, was $112,720,355.93. Accordingly, the surcharge rate for calendar year 2023 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 VerDate Sep<11>2014 19:34 Dec 02, 2022 Jkt 259001 calendar year 2023 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 2023 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 2023 tier 1 tax base of $160,200 for A above produces the amount of $1,895.24, which must then be rounded to $1,895. Accordingly, the monthly compensation base is determined to be $1,895 for months in calendar year 2023. 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 2023 monthly compensation base of $1,895 produces $4,737.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $4,737.50 for calendar year 2023. 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 2023 monthly compensation base is $1,895. The ratio of $1,895 to $600 is 3.15833333. PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 74459 Multiplying 3.15833333 by $775 produces $2,448. Accordingly, the amount determined under section 2(c) is $2,448 for months in calendar year 2023. 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, 2023, 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 2022 monthly compensation base is $1,755. Multiplying $1,755 by 0.05 yields $87.75. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2023, is determined to be $87. By Authority of the Board. Stephanie Hillyard, Secretary to the Board. [FR Doc. 2022–26392 Filed 12–2–22; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96403; File No. SR– NYSEAMER–2022–53] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.19E November 29, 2022. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on November 17, 2022, NYSE American LLC (‘‘NYSE American’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 E:\FR\FM\05DEN1.SGM 05DEN1

Agencies

Railroad Retirement Board

[Federal Register Volume 87, Number 232 (Monday, December 5, 2022)]
[Notices]
[Pages 74458-74459]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-26392]


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RAILROAD RETIREMENT BOARD


2023 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 2023 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.

DATES: The balance in notice (1) and the determinations made in notices 
(3) through (7) are based on data as of June 30, 2022. The balance in 
notice (2) is based on data as of September 30, 2022. 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 2023. The determinations made in notices (8) 
through (11) are effective January 1, 2023. The determination made in 
notice (12) is effective for registration periods beginning after June 
30, 2023.

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, 2022, the computation of the calendar year 2023 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, 2023, 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, 2023. 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, 2022, is $112,720,355.93;
    2. The September 30, 2022, balance of any new loans to the RUI 
Account, including accrued interest, is $0.00;
    3. The system compensation base is $3,810,748,651.25 as of June 30, 
2022;
    4. The cumulative system unallocated charge balance is 
($466,677,550.51) as of June 30, 2022;
    5. The pooled credit ratio for calendar year 2023 is zero;
    6. The pooled charged ratio for calendar year 2023 is zero;
    7. The surcharge rate for calendar year 2023 is 1.5 percent;
    8. The monthly compensation base under section 1(i) of the Act is 
$1,895 for months in calendar year 2023;

[[Page 74459]]

    9. The amount described in sections 1(k) and 3 of the Act as ``2.5 
times the monthly compensation base'' is $4,737.50 for base year 
(calendar year) 2023;
    10. The amount described in section 4(a-2)(i)(A) of the Act as 
``2.5 times the monthly compensation base'' is $4,737.50 with respect 
to disqualifications ending in calendar year 2023;
    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 
$2,448 for months in calendar year 2023;
    12. The maximum daily benefit rate under section 2(a)(3) of the Act 
is $87 with respect to days of unemployment and days of sickness in 
registration periods beginning after June 30, 2023.

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, 2022 system compensation base of 
$3,810,748,651.25 to the June 30, 1991 system compensation base of 
$2,763,287,237.04 is 1.37906353. Multiplying 1.37906353 by $100 million 
yields $137,906,353.00. Multiplying $50 million by 1.37906353 produces 
$68,953,176.50. The Account balance on June 30, 2022, was 
$112,720,355.93. Accordingly, the surcharge rate for calendar year 2023 
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 2023 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 2023 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 2023 tier 1 tax base of $160,200 for A 
above produces the amount of $1,895.24, which must then be rounded to 
$1,895. Accordingly, the monthly compensation base is determined to be 
$1,895 for months in calendar year 2023.

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 2023 monthly compensation base 
of $1,895 produces $4,737.50. Accordingly, the amount determined under 
sections 1(k), 3 and 4(a-2)(i)(A) is $4,737.50 for calendar year 2023.
    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 2023 monthly compensation base is $1,895. The 
ratio of $1,895 to $600 is 3.15833333. Multiplying 3.15833333 by $775 
produces $2,448. Accordingly, the amount determined under section 2(c) 
is $2,448 for months in calendar year 2023.

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, 2023, 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 2022 monthly compensation base is $1,755. 
Multiplying $1,755 by 0.05 yields $87.75. Accordingly, the maximum 
daily benefit rate for days of unemployment and days of sickness 
beginning in registration periods after June 30, 2023, is determined to 
be $87.

    By Authority of the Board.
Stephanie Hillyard,
Secretary to the Board.
[FR Doc. 2022-26392 Filed 12-2-22; 8:45 am]
BILLING CODE 7905-01-P

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