Management and Budget Office May 2008 – Federal Register Recent Federal Regulation Documents

Standard Occupational Classification (SOC)-Policy Committee's Recommendations for the 2010 SOC
Document Number: E8-11447
Type: Notice
Date: 2008-05-22
Agency: Management and Budget Office, Executive Office of the President
Under the authority of the Budget and Accounting Procedures Act of 1950 (31 U.S.C. 1104(d)) and the Paperwork Reduction Act of 1995 (44 U.S.C. 3504(e)), the Office of Management and Budget (OMB) is seeking public comment on the Standard Occupational Classification Policy Committee's (SOCPC) recommendations presented in this notice for revising the 2000 Standard Occupational Classification (SOC) for 2010. The SOC is designed to reflect the current occupational structure of the United States; it classifies all occupations in which work is performed for pay or profit. The SOC covers all jobs in the national economy, including occupations in the public, private, and military sectors. All Federal agencies that publish occupational data are required to use the SOC; State and local government agencies are strongly encouraged to use this national system to promote a common language for categorizing and analyzing occupations. In a prior Federal Register notice (71 FR 28536, May 16, 2006), OMB and the SOCPC requested comments on: (1) The Standard Occupational Classification principles, (2) corrections to the 2000 SOC Manual, (3) the intention to retain the current SOC Major Group structure, (4) changes to the existing detailed occupations, and (5) new detailed occupations to be added to the revised 2010 SOC. The classification principles, coding guidelines, and occupations recommended in this notice reflect the comments received in response to the May 16, 2006, notice and represent the SOCPC's final recommendations to OMB. OMB, in consultation with the SOCPC, will consider comments in response to this notice in making its final decisions for the 2010 SOC revision and will publish its decisions in the Federal Register. The SOCPC will then finish preparing the 2010 Standard Occupational Classification Manual for publication, including finalizing occupational definitions, assigning associated job titles, and developing a crosswalk to the 2000 SOC. Appendices: This notice includes three appendices in the SUPPLEMENTARY INFORMATION section below. Appendix A presents the SOCPC's recommended SOC Classification Principles and SOC Coding Guidelines. Appendix B provides a crosswalk between the occupation codes in the 2000 SOC and the recommended revised codes for the 2010 SOC. Appendix C provides a crosswalk between the recommended revised codes for the 2010 SOC and the 2000 SOC. Request for Comments: In addition to general comments on the SOCPC's recommendations, OMB welcomes comments specifically addressing: (1) The SOC Classification Principles and SOC Coding Guidelines recommended by the SOCPC (Appendix A); (2) their recommended changes to titles and codes of occupations from the 2000 SOC (Appendix B); (3) the SOCPC's recommended changes to the hierarchical structure of the SOC, including changes to major, minor, broad, and detailed occupation groups (Appendix C); and (4) the titles, placement, and codes of new occupations that the SOCPC is recommending be added in the revised 2010 SOC (Appendix C). All comments submitted in response to this notice may be made available to the public, including by posting them on OMB's Web site. For this reason, please do not include in your comments information of a confidential nature, such as sensitive personal information or proprietary information. Electronic Availability: This document is available on the Internet from the Bureau of Labor Statistics at https://www.bls.gov/soc/home.htm. This Web page contains links to previous SOC Federal Register notices, and related documents, as well as the full SOCPC recommended 2010 SOC structure. To obtain this notice via e-mail, please send a message requesting the SOCPC recommendations Federal Register notice to soc@bls.gov.
Cost Accounting Standards Board; Accounting for the Costs of Employee Stock Ownership Plans (ESOPs) Sponsored by Government Contractors
Document Number: E8-9376
Type: Rule
Date: 2008-05-01
Agency: Management and Budget Office, Office of Federal Procurement Policy, Federal Procurement Policy Office, Executive Office of the President
The Cost Accounting Standards Board (the Board), Office of Federal Procurement Policy, has adopted a final rule to amend Cost Accounting Standard (CAS) 412, ``Cost Accounting Standard for composition and measurement of pension cost,'' and CAS 415, ``Accounting for the cost of deferred compensation.'' These amendments address issues concerning the recognition of the costs of Employee Stock Ownership Plans (ESOPs) under Government cost-based contracts and subcontracts. These amendments provide criteria for measuring the costs of ESOPs and their assignment to cost accounting periods. The allocation of a contractor's assigned ESOP costs to contracts and subcontracts is addressed in other Standards. The amendments also specify that accounting for the costs of ESOPs will be covered by the provisions of CAS 415, ``Accounting for the cost of deferred compensation,'' and not by any other Standard. This rulemaking is authorized pursuant to Section 26 of the Office of Federal Procurement Policy (OFPP) Act.