82_FR_43228 82 FR 43052 - Agency Forms Submitted for OMB Review, Request for Comments

82 FR 43052 - Agency Forms Submitted for OMB Review, Request for Comments

RAILROAD RETIREMENT BOARD

Federal Register Volume 82, Issue 176 (September 13, 2017)

Page Range43052-43054
FR Document2017-19442

In accordance with the Paperwork Reduction Act of 1995, the Railroad Retirement Board (RRB) is forwarding an Information Collection Request (ICR) to the Office of Information and Regulatory Affairs (OIRA), Office of Management and Budget (OMB). Our ICR describes the information we seek to collect from the public. Review and approval by OIRA ensures that we impose appropriate paperwork burdens. The RRB invites comments on the proposed collections of information to determine (1) the practical utility of the collections; (2) the accuracy of the estimated burden of the collections; (3) ways to enhance the quality, utility, and clarity of the information that is the subject of collection; and (4) ways to minimize the burden of collections on respondents, including the use of automated collection techniques or other forms of information technology. Comments to the RRB or OIRA must contain the OMB control number of the ICR. For proper consideration of your comments, it is best if the RRB and OIRA receive them within 30 days of the publication date. 1. Title and purpose of information collection: Supplemental Information on Accident and Insurance; OMB 3220-0036. Under Section 12(o) of the Railroad Unemployment Insurance Act (RUIA), the Railroad Retirement Board (RRB) is entitled to reimbursement of the sickness benefits paid to a railroad employee if the employee receives a sum or damages for the same infirmity for which the benefits are paid. Section 2(f) of the RUIA requires employers to reimburse the RRB for days in which salary, wages, pay for time lost or other remuneration is later determined to be payable. Reimbursements under section 2(f) generally result from the award of pay for time lost or the payment of guaranteed wages. The RUIA prescribes that the amount of benefits paid be deducted and held by the employer in a special fund for reimbursement to the RRB. The RRB currently utilizes Forms SI-1c, Supplemental Information on Accident and Insurance; SI-5, Report of Payments to Employee Claiming Sickness Benefits Under the RUIA; ID-3s and ID-3s (Internet), Request for Lien Information--Report of Settlement; ID-3s-1, Lien Information Under Section 12(o) of the RUIA; ID-3u and ID-3u (Internet), Request for Section 2(f) Information; ID-30k, Notice to Request Supplemental Information on Injury or Illness; and ID-30k-1, Notice to Request Supplemental Information on Injury or Illness; to obtain the necessary information from claimants and railroad employers. Completion is required to obtain benefits. One response is requested of each respondent. Previous Requests for Comments: The RRB has already published the initial 60-day notice (82 FR 31108 on July 5, 2017) required by 44 U.S.C. 3506(c)(2). That request elicited no comments.

Federal Register, Volume 82 Issue 176 (Wednesday, September 13, 2017)
[Federal Register Volume 82, Number 176 (Wednesday, September 13, 2017)]
[Notices]
[Pages 43052-43054]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-19442]


=======================================================================
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RAILROAD RETIREMENT BOARD


Agency Forms Submitted for OMB Review, Request for Comments

    Summary: In accordance with the Paperwork Reduction Act of 1995, 
the Railroad Retirement Board (RRB) is forwarding an Information 
Collection Request (ICR) to the Office of Information and Regulatory 
Affairs (OIRA), Office of Management and Budget (OMB). Our ICR 
describes the information we seek to collect from the public. Review 
and approval by OIRA ensures that we impose appropriate paperwork 
burdens.
    The RRB invites comments on the proposed collections of information 
to determine (1) the practical utility of the collections; (2) the 
accuracy of the estimated burden of the collections; (3) ways to 
enhance the quality, utility, and clarity of the information that is 
the subject of collection; and (4) ways to minimize the burden of 
collections on respondents, including the use of automated collection 
techniques or other forms of information technology. Comments to the 
RRB or OIRA must contain the OMB control number of the ICR. For proper 
consideration of your comments, it is best if the RRB and OIRA receive 
them within 30 days of the publication date.
    1. Title and purpose of information collection: Supplemental 
Information on Accident and Insurance; OMB 3220-0036.
    Under Section 12(o) of the Railroad Unemployment Insurance Act 
(RUIA), the Railroad Retirement Board (RRB) is entitled to 
reimbursement of the sickness benefits paid to a railroad employee if 
the employee receives a sum or damages for the same infirmity for which 
the benefits are paid. Section 2(f) of the RUIA requires employers to 
reimburse the RRB for days in which salary, wages, pay for time lost or 
other remuneration is later determined to be payable. Reimbursements 
under section 2(f) generally result from the award of pay for time lost 
or the payment of guaranteed wages. The RUIA prescribes that the amount 
of benefits paid be deducted and held by the employer in a special fund 
for reimbursement to the RRB.
    The RRB currently utilizes Forms SI-1c, Supplemental Information on 
Accident and Insurance; SI-5, Report of Payments to Employee Claiming 
Sickness Benefits Under the RUIA; ID-3s and ID-3s (Internet), Request 
for Lien Information--Report of Settlement; ID-3s-1, Lien Information 
Under Section 12(o) of the RUIA; ID-3u and ID-3u (Internet), Request 
for Section 2(f) Information; ID-30k, Notice to Request Supplemental 
Information on Injury or Illness; and ID-30k-1, Notice to Request 
Supplemental Information on Injury or Illness; to obtain the necessary 
information from claimants and railroad employers. Completion is 
required to obtain benefits. One response is requested of each 
respondent.
    Previous Requests for Comments: The RRB has already published the 
initial 60-day notice (82 FR 31108 on July 5, 2017) required by 44 
U.S.C. 3506(c)(2). That request elicited no comments.

Information Collection Request (ICR)

    Title: Supplemental Information on Accident and Insurance.
    OMB Control Number: 3220-0036.
    Form(s) submitted: SI-1c, SI-5, ID-3s, ID-3s (Internet), ID-3s.1, 
ID3u, ID-3u (Internet), ID-30k, and ID-30k.1.
    Type of request: Extension without change of a currently approved 
collection.
    Affected public: Individuals or Households.
    Abstract: The Railroad Unemployment Insurance Act provides for the 
recovery of sickness benefits paid if an employee receives a settlement 
for the same injury for which benefits were paid. The collection 
obtains information that is needed to determine the amount of the RRB's 
reimbursement from the person or company responsible for such payments.
    Changes proposed: The RRB proposes no changes to the forms in the 
collection.
    The burden estimate for the ICR is as follows:

 
----------------------------------------------------------------------------------------------------------------
                                                                      Annual           Time           Burden
                            Form No.                                 responses       (minutes)        (hours)
----------------------------------------------------------------------------------------------------------------
SI-1c...........................................................             475               5              40
SI-5............................................................               7               5               1
ID-3s (Paper & Telephone).......................................           4,000               3             200
ID-3s (Internet)................................................           2,000               3             100
ID-3s-1 (Paper & Telephone).....................................           3,000               3             150
ID-3u (Paper & Telephone).......................................             400               3              20
ID-3u (Internet)................................................             200               3              10
ID-30k..........................................................              55               5               5
ID-30k.1........................................................              65               5               5
                                                                 -----------------------------------------------
    Total.......................................................          10,202  ..............             531
----------------------------------------------------------------------------------------------------------------

    2. Title and Purpose of information collection: Pension Plan 
Reports; OMB 3220-0089. Under Section 2(b) of the Railroad Retirement 
Act (RRA), the Railroad Retirement Board (RRB) pays supplemental 
annuities to qualified RRB employee annuitants. A supplemental annuity, 
which is computed according to Section 3(e) of the RRA, can be paid at 
age 60 if the employee has at least 30 years of creditable railroad 
service or at age 65 if the employee has 25-29 years of railroad 
service. In addition to 25 years of service, a ``current connection'' 
with the railroad industry is required. Eligibility is further limited 
to employees who had at least 1 month of rail service before October 
1981 and were awarded regular annuities after June 1966. Further, if an 
employee's 65th birthday was prior to September 2, 1981, he or she must 
not have worked in rail service after certain closing dates (generally 
the last day of the month following the month in which age 65 is 
attained). Under Section 2(h)(2) of the RRA, the amount of the 
supplemental annuity is reduced if the employee receives monthly 
pension payments, or a lump-sum pension payment from a

[[Page 43053]]

private pension from a railroad employer, to the extent the payments 
are based on contributions from that employer. The employee's own 
contribution to their pension account does not cause a reduction. A 
private railroad employer pension is defined in 20 CFR 216.42.
    The RRB requires the following information from railroad employers 
to calculate supplemental annuities: (a) The current status of railroad 
employer pension plans and whether such plans cause reductions to the 
supplemental annuity; (b) whether the employee receives monthly 
payments from a private railroad employer pension, elected to receive a 
lump sum in lieu of monthly pension payments from such a plan, or was 
required to receive a lump sum from such a plan due to the plan's small 
benefit provision; and (c) the amount of the payments attributable to 
the railroad employer's contributions. The requirement that railroad 
employers furnish pension information to the RRB is contained in 20 CFR 
209.2.
    The RRB currently utilizes Form G-88p and G-88p (Internet), 
Employer's Supplemental Pension Report, and Form G-88r, Request for 
Information About New or Revised Employer Pension Plan, to obtain the 
necessary information from railroad employers. One response is 
requested of each respondent. Completion is mandatory.
    Previous Requests for Comments: The RRB has already published the 
initial 60-day notice (82 FR 31108 on July 5, 2017) required by 44 
U.S.C. 3506(c)(2). That request elicited no comments.

Information Collection Request (ICR)

    Title: Pension Plan Reports.
    OMB Control Number: 3220-0089.
    Forms submitted: G-88p and G-88r.
    Type of request: Revision of a currently approved collection of 
information.
    Affected public: Businesses or other for-profits.
    Abstract: The Railroad Retirement Act provides for payment of a 
supplemental annuity to a qualified railroad retirement annuitant. The 
collection obtains information from the annuitant's employer to 
determine (a) the existence of railroad employer pension plans and 
whether such plans, if they exist, require a reduction to supplemental 
annuities paid to the employer's former employees and (b) the amount of 
supplemental annuities due railroad employees.
    Changes proposed: The RRB proposes to revise Forms G-88p and G-88p 
(Internet) to acquire more accurate employee pension information by 
asking the employer whether the employee is currently eligible for a 
pension and instructing the employer to indicate whether the employee 
filed for the pension or instead elected to defer distribution from the 
pension account in Items 11a and 11b (paper) and Items 10a and 10b 
(Internet). The RRB also proposes to make other editorial changes. The 
RRB proposes no changes to Form G-88r.
    The burden estimate for the ICR is as follows:

----------------------------------------------------------------------------------------------------------------
                                                                      Annual           Time           Burden
                            Form No.                                 responses       (minutes)        (hours)
----------------------------------------------------------------------------------------------------------------
G-88p...........................................................             100               8              13
G-88p (Internet)................................................             200               6              20
G-88r...........................................................              10               8               1
                                                                 -----------------------------------------------
    Total.......................................................             310  ..............              34
----------------------------------------------------------------------------------------------------------------

    3. Title and Purpose of information collection: Statement Regarding 
Contributions and Support; OMB 3220-0099.
    Under Section 2 of the Railroad Retirement Act, dependency on an 
employee for one-half support at the time of the employee's death can 
affect (1) entitlement to a survivor annuity when the survivor is a 
parent of the deceased employee; (2) the amount of spouse and survivor 
annuities; and (3) the Tier II restored amount payable to a widow(er) 
whose annuity was reduced for receipt of an employee annuity, and who 
was dependent on the railroad employee in the year prior to the 
employee's death. One-half support may also negate the public service 
pension offset in Tier I for a spouse or widow(er). The Railroad 
Retirement Board (RRB) utilizes Form G-134, Statement Regarding 
Contributions and Support, to secure information needed to adequately 
determine if the applicant meets the one-half support requirement. One 
response is completed by each respondent. Completion is required to 
obtain benefits.
    Previous Requests for Comments: The RRB has already published the 
initial 60-day notice (82 FR 31109 on July 5, 2017) required by 44 
U.S.C. 3506(c)(2). That request elicited no comments.

Information Collection Request (ICR)

    Title: Statement Regarding Contributions and Support.
    OMB Control Number: 3220-0099.
    Form(s) submitted: G-134.
    Type of request: Extension without change of a currently approved 
collection.
    Affected public: Individuals or Households.
    Abstract: Dependency on the employee for one-half support at the 
time of the employee's death can be a condition affecting eligibility 
for a survivor annuity provided for under Section 2 of the Railroad 
Retirement Act. One-half support is also a condition which may negate 
the public service pension offset in Tier I for a spouse or widow(er).
    Changes proposed: The RRB proposes no changes to Form G-134.
    The burden estimate for the ICR is as follows:

----------------------------------------------------------------------------------------------------------------
                                                                      Annual           Time           Burden
                            Form No.                                 responses       (minutes)        (hours)
----------------------------------------------------------------------------------------------------------------
G-134:
    With Assistance.............................................              75             147             184
    Without assistance..........................................              25             180              75
                                                                 -----------------------------------------------
        Total...................................................             100  ..............             259
----------------------------------------------------------------------------------------------------------------


[[Page 43054]]

    Additional Information or Comments: Copies of the forms and 
supporting documents can be obtained from Dana Hickman at (312) 751-
4981 or [email protected].
    Comments regarding the information collection should be addressed 
to Brian Foster, Railroad Retirement Board, 844 North Rush Street, 
Chicago, Illinois, 60611-1275 or [email protected] and to the OMB 
Desk Officer for the RRB, Fax: 202-395-6974, Email address: 
[email protected].

Brian D. Foster,
Clearance Officer.
[FR Doc. 2017-19442 Filed 9-12-17; 8:45 am]
 BILLING CODE 7905-01-P



                                                43052                             Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices

                                                  Dated at Rockville, Maryland, this 7th day                                 ICR. For proper consideration of your                                    Supplemental Information on Injury or
                                                of September, 2017.                                                          comments, it is best if the RRB and                                      Illness; to obtain the necessary
                                                  For the Nuclear Regulatory Commission.                                     OIRA receive them within 30 days of                                      information from claimants and railroad
                                                David Cullison,                                                              the publication date.                                                    employers. Completion is required to
                                                NRC Clearance Officer, Office of the Chief                                      1. Title and purpose of information                                   obtain benefits. One response is
                                                Information Officer.                                                         collection: Supplemental Information on                                  requested of each respondent.
                                                [FR Doc. 2017–19368 Filed 9–12–17; 8:45 am]                                  Accident and Insurance; OMB 3220–                                           Previous Requests for Comments: The
                                                BILLING CODE 7590–01–P
                                                                                                                             0036.                                                                    RRB has already published the initial
                                                                                                                                Under Section 12(o) of the Railroad                                   60-day notice (82 FR 31108 on July 5,
                                                                                                                             Unemployment Insurance Act (RUIA),                                       2017) required by 44 U.S.C. 3506(c)(2).
                                                                                                                             the Railroad Retirement Board (RRB) is                                   That request elicited no comments.
                                                RAILROAD RETIREMENT BOARD
                                                                                                                             entitled to reimbursement of the
                                                                                                                             sickness benefits paid to a railroad                                     Information Collection Request (ICR)
                                                Agency Forms Submitted for OMB
                                                Review, Request for Comments                                                 employee if the employee receives a                                         Title: Supplemental Information on
                                                                                                                             sum or damages for the same infirmity                                    Accident and Insurance.
                                                  Summary: In accordance with the                                            for which the benefits are paid. Section                                    OMB Control Number: 3220–0036.
                                                Paperwork Reduction Act of 1995, the                                         2(f) of the RUIA requires employers to
                                                Railroad Retirement Board (RRB) is                                                                                                                       Form(s) submitted: SI–1c, SI–5, ID–3s,
                                                                                                                             reimburse the RRB for days in which
                                                forwarding an Information Collection                                                                                                                  ID–3s (Internet), ID–3s.1, ID3u, ID–3u
                                                                                                                             salary, wages, pay for time lost or other
                                                Request (ICR) to the Office of                                                                                                                        (Internet), ID–30k, and ID–30k.1.
                                                                                                                             remuneration is later determined to be
                                                Information and Regulatory Affairs                                           payable. Reimbursements under section                                       Type of request: Extension without
                                                (OIRA), Office of Management and                                             2(f) generally result from the award of                                  change of a currently approved
                                                Budget (OMB). Our ICR describes the                                          pay for time lost or the payment of                                      collection.
                                                information we seek to collect from the                                      guaranteed wages. The RUIA prescribes                                       Affected public: Individuals or
                                                public. Review and approval by OIRA                                          that the amount of benefits paid be                                      Households.
                                                ensures that we impose appropriate                                           deducted and held by the employer in                                        Abstract: The Railroad
                                                paperwork burdens.                                                           a special fund for reimbursement to the                                  Unemployment Insurance Act provides
                                                  The RRB invites comments on the                                            RRB.                                                                     for the recovery of sickness benefits
                                                proposed collections of information to                                          The RRB currently utilizes Forms SI–                                  paid if an employee receives a
                                                determine (1) the practical utility of the                                   1c, Supplemental Information on                                          settlement for the same injury for which
                                                collections; (2) the accuracy of the                                         Accident and Insurance; SI–5, Report of                                  benefits were paid. The collection
                                                estimated burden of the collections; (3)                                     Payments to Employee Claiming                                            obtains information that is needed to
                                                ways to enhance the quality, utility, and                                    Sickness Benefits Under the RUIA; ID–                                    determine the amount of the RRB’s
                                                clarity of the information that is the                                       3s and ID–3s (Internet), Request for Lien                                reimbursement from the person or
                                                subject of collection; and (4) ways to                                       Information—Report of Settlement; ID–                                    company responsible for such
                                                minimize the burden of collections on                                        3s-1, Lien Information Under Section                                     payments.
                                                respondents, including the use of                                            12(o) of the RUIA; ID–3u and ID–3u                                          Changes proposed: The RRB proposes
                                                automated collection techniques or                                           (Internet), Request for Section 2(f)                                     no changes to the forms in the
                                                other forms of information technology.                                       Information; ID–30k, Notice to Request                                   collection.
                                                Comments to the RRB or OIRA must                                             Supplemental Information on Injury or                                       The burden estimate for the ICR is as
                                                contain the OMB control number of the                                        Illness; and ID–30k-1, Notice to Request                                 follows:



                                                                                                                                                                                                        Annual              Time                 Burden
                                                                                                                  Form No.                                                                            responses           (minutes)              (hours)

                                                SI–1c ............................................................................................................................................            475                          5                40
                                                SI–5 ..............................................................................................................................................             7                          5                 1
                                                ID–3s (Paper & Telephone) .........................................................................................................                         4,000                          3               200
                                                ID–3s (Internet) ............................................................................................................................               2,000                          3               100
                                                ID–3s–1 (Paper & Telephone) .....................................................................................................                           3,000                          3               150
                                                ID–3u (Paper & Telephone) ........................................................................................................                            400                          3                20
                                                ID–3u (Internet) ............................................................................................................................                 200                          3                10
                                                ID–30k ..........................................................................................................................................              55                          5                 5
                                                ID–30k.1 .......................................................................................................................................               65                          5                 5

                                                       Total ......................................................................................................................................        10,202     ........................             531



                                                   2. Title and Purpose of information                                       years of creditable railroad service or at                               65th birthday was prior to September 2,
                                                collection: Pension Plan Reports; OMB                                        age 65 if the employee has 25–29 years                                   1981, he or she must not have worked
                                                3220–0089. Under Section 2(b) of the                                         of railroad service. In addition to 25                                   in rail service after certain closing dates
sradovich on DSK3GMQ082PROD with NOTICES




                                                Railroad Retirement Act (RRA), the                                           years of service, a ‘‘current connection’’                               (generally the last day of the month
                                                Railroad Retirement Board (RRB) pays                                         with the railroad industry is required.                                  following the month in which age 65 is
                                                supplemental annuities to qualified RRB                                      Eligibility is further limited to                                        attained). Under Section 2(h)(2) of the
                                                employee annuitants. A supplemental                                          employees who had at least 1 month of                                    RRA, the amount of the supplemental
                                                annuity, which is computed according                                         rail service before October 1981 and                                     annuity is reduced if the employee
                                                to Section 3(e) of the RRA, can be paid                                      were awarded regular annuities after                                     receives monthly pension payments, or
                                                at age 60 if the employee has at least 30                                    June 1966. Further, if an employee’s                                     a lump-sum pension payment from a


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                                                                                  Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices                                                                                   43053

                                                private pension from a railroad                                               The RRB currently utilizes Form G–                                     retirement annuitant. The collection
                                                employer, to the extent the payments                                        88p and G–88p (Internet), Employer’s                                     obtains information from the annuitant’s
                                                are based on contributions from that                                        Supplemental Pension Report, and                                         employer to determine (a) the existence
                                                employer. The employee’s own                                                Form G–88r, Request for Information                                      of railroad employer pension plans and
                                                contribution to their pension account                                       About New or Revised Employer                                            whether such plans, if they exist,
                                                does not cause a reduction. A private                                       Pension Plan, to obtain the necessary                                    require a reduction to supplemental
                                                railroad employer pension is defined in                                     information from railroad employers.                                     annuities paid to the employer’s former
                                                20 CFR 216.42.                                                              One response is requested of each                                        employees and (b) the amount of
                                                   The RRB requires the following                                           respondent. Completion is mandatory.                                     supplemental annuities due railroad
                                                information from railroad employers to                                        Previous Requests for Comments: The                                    employees.
                                                calculate supplemental annuities: (a)                                       RRB has already published the initial                                       Changes proposed: The RRB proposes
                                                The current status of railroad employer                                     60-day notice (82 FR 31108 on July 5,                                    to revise Forms G–88p and G–88p
                                                pension plans and whether such plans                                        2017) required by 44 U.S.C. 3506(c)(2).                                  (Internet) to acquire more accurate
                                                cause reductions to the supplemental                                        That request elicited no comments.                                       employee pension information by
                                                annuity; (b) whether the employee                                                                                                                    asking the employer whether the
                                                                                                                            Information Collection Request (ICR)
                                                receives monthly payments from a                                                                                                                     employee is currently eligible for a
                                                private railroad employer pension,                                            Title: Pension Plan Reports.                                           pension and instructing the employer to
                                                elected to receive a lump sum in lieu of                                      OMB Control Number: 3220–0089.                                         indicate whether the employee filed for
                                                monthly pension payments from such a                                          Forms submitted: G–88p and G–88r.                                      the pension or instead elected to defer
                                                plan, or was required to receive a lump                                       Type of request: Revision of a                                         distribution from the pension account in
                                                sum from such a plan due to the plan’s                                      currently approved collection of                                         Items 11a and 11b (paper) and Items 10a
                                                small benefit provision; and (c) the                                        information.                                                             and 10b (Internet). The RRB also
                                                amount of the payments attributable to                                        Affected public: Businesses or other                                   proposes to make other editorial
                                                the railroad employer’s contributions.                                      for-profits.                                                             changes. The RRB proposes no changes
                                                The requirement that railroad employers                                       Abstract: The Railroad Retirement Act                                  to Form G–88r.
                                                furnish pension information to the RRB                                      provides for payment of a supplemental                                      The burden estimate for the ICR is as
                                                is contained in 20 CFR 209.2.                                               annuity to a qualified railroad                                          follows:

                                                                                                                                                                                                       Annual              Time                 Burden
                                                                                                                 Form No.                                                                            responses           (minutes)              (hours)

                                                G–88p ..........................................................................................................................................            100                            8              13
                                                G–88p (Internet) ..........................................................................................................................                 200                            6              20
                                                G–88r ...........................................................................................................................................            10                            8               1

                                                      Total ......................................................................................................................................          310      ........................              34



                                                  3. Title and Purpose of information                                       widow(er). The Railroad Retirement                                         Type of request: Extension without
                                                collection: Statement Regarding                                             Board (RRB) utilizes Form G–134,                                         change of a currently approved
                                                Contributions and Support; OMB 3220–                                        Statement Regarding Contributions and                                    collection.
                                                0099.                                                                       Support, to secure information needed                                      Affected public: Individuals or
                                                  Under Section 2 of the Railroad                                           to adequately determine if the applicant                                 Households.
                                                Retirement Act, dependency on an                                            meets the one-half support requirement.                                    Abstract: Dependency on the
                                                employee for one-half support at the                                        One response is completed by each                                        employee for one-half support at the
                                                time of the employee’s death can affect                                     respondent. Completion is required to                                    time of the employee’s death can be a
                                                (1) entitlement to a survivor annuity                                       obtain benefits.                                                         condition affecting eligibility for a
                                                when the survivor is a parent of the                                          Previous Requests for Comments: The                                    survivor annuity provided for under
                                                deceased employee; (2) the amount of                                        RRB has already published the initial
                                                spouse and survivor annuities; and (3)                                                                                                               Section 2 of the Railroad Retirement
                                                                                                                            60-day notice (82 FR 31109 on July 5,                                    Act. One-half support is also a condition
                                                the Tier II restored amount payable to a                                    2017) required by 44 U.S.C. 3506(c)(2).
                                                widow(er) whose annuity was reduced                                                                                                                  which may negate the public service
                                                                                                                            That request elicited no comments.                                       pension offset in Tier I for a spouse or
                                                for receipt of an employee annuity, and
                                                who was dependent on the railroad                                           Information Collection Request (ICR)                                     widow(er).
                                                employee in the year prior to the                                             Title: Statement Regarding                                               Changes proposed: The RRB proposes
                                                employee’s death. One-half support may                                      Contributions and Support.                                               no changes to Form G–134.
                                                also negate the public service pension                                        OMB Control Number: 3220–0099.                                           The burden estimate for the ICR is as
                                                offset in Tier I for a spouse or                                              Form(s) submitted: G–134.                                              follows:

                                                                                                                                                                                                       Annual              Time                 Burden
                                                                                                                 Form No.                                                                            responses           (minutes)              (hours)
sradovich on DSK3GMQ082PROD with NOTICES




                                                G–134:
                                                   With Assistance ....................................................................................................................                      75                        147                184
                                                   Without assistance ...............................................................................................................                        25                        180                 75

                                                             Total ...............................................................................................................................          100      ........................             259




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                                                43054                    Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices

                                                  Additional Information or Comments:                   Commission did not receive any                            excludes the Member’s net, unsettled
                                                Copies of the forms and supporting                      comments on the Advance Notice. This                      long position in family-issued securities
                                                documents can be obtained from Dana                     publication serves as notice that the                     from the volatility component of the
                                                Hickman at (312) 751–4981 or                            Commission does not object to the                         margin calculation (‘‘VaR Charge’’).
                                                Dana.Hickman@RRB.GOV.                                   changes set forth in the Advance Notice.                  Instead, for such unsettled long
                                                  Comments regarding the information                                                                              positions, NSCC calculates the required
                                                collection should be addressed to Brian                 I. Description of the Advance Notice
                                                                                                                                                                  margin (i.e., the FIS Charge) by
                                                Foster, Railroad Retirement Board, 844                     The Advance Notice is a proposal by                    multiplying the position value by a set
                                                North Rush Street, Chicago, Illinois,                   NSCC to further address specific wrong-                   percentage, which is determined based
                                                60611–1275 or Brian.Foster@rrb.gov and                  way risk 5 that is present when NSCC                      on a Member’s rating on NSCC’s
                                                to the OMB Desk Officer for the RRB,                    acts as central counterparty to a
                                                                                                                                                                  internal credit risk rating matrix.8 NSCC
                                                Fax: 202–395–6974, Email address:                       transaction with an NSCC member
                                                                                                                                                                  applies this separate margin calculation
                                                OIRA_Submission@omb.eop.gov.                            (‘‘Member’’) where the underlying
                                                                                                                                                                  to deal with specific wrong-way risk
                                                                                                        securities are securities issued by such
                                                Brian D. Foster,
                                                                                                        Member or an affiliate of such Member                     that arises from these positions because
                                                Clearance Officer.                                      (‘‘family-issued securities’’).6 Currently,               NSCC has to liquidate the unsettled
                                                [FR Doc. 2017–19442 Filed 9–12–17; 8:45 am]             NSCC applies a targeted margin charge                     family-issued security long positions in
                                                BILLING CODE 7905–01–P                                  to address the specific wrong-way risk                    the Member’s portfolio to manage the
                                                                                                        of family-issued securities transactions                  default.9 Given that the Member’s
                                                                                                        (‘‘FIS Charge’’) where the Member is on                   default would likely adversely affect
                                                SECURITIES AND EXCHANGE                                 NSCC’s Watch List.7 NSCC believes that                    NSCC’s ability to liquidate such
                                                COMMISSION                                              Members on the Watch List present a                       positions at full value (because the
                                                                                                        higher credit risk (i.e., a greater risk of               value of the family-issued securities will
                                                [Release No. 34–81545; File No. SR–NSCC–
                                                2017–804]                                               defaulting on their settlement                            decline in response to the Member’s
                                                                                                        obligations), compared to Members not                     default), NSCC applies the FIS Charge to
                                                Self-Regulatory Organizations;                          on the Watch List. As such, the family-                   try to address the risk of a shortfall.
                                                National Securities Clearing                            issued securities of Members on the                       According to NSCC, the FIS Charge
                                                Corporation; Notice of No Objection to                  Watch List currently receive a FIS                        constitutes a more conservative
                                                an Advance Notice To Expand the                         Charge because of the increased credit                    approach to collecting margin on
                                                Application of the Family-Issued                        risk presented by such Members. As                        family-issued security positions than
                                                Securities Charge                                       described in detail below, NSCC                           what may be achieved by applying the
                                                                                                        proposes in the Advance Notice to                         VaR Charge, which does not recognize
                                                September 7, 2017.
                                                                                                        expand the application of the FIS                         the relationship between the Member
                                                   On July 10, 2017, National Securities                Charge to all Members, regardless of a                    and the family-issued securities.
                                                Clearing Corporation (‘‘NSCC’’) filed                   Member’s Watch List status, but still
                                                with the Securities and Exchange                                                                                     Although the risk of default by
                                                                                                        maintain a higher FIS Charge for                          Members that are not on the Watch List
                                                Commission (‘‘Commission’’) advance                     Members that present a greater credit
                                                notice SR–NSCC–2017–804 (‘‘Advance                                                                                is lower than Members on the Watch
                                                                                                        risk to NSCC, such as Members on the                      List, NSCC believes that it is appropriate
                                                Notice’’) pursuant to Section 806(e)(1) of              Watch List.
                                                Title VIII of the Dodd-Frank Wall Street                                                                          to apply the FIS Charge to all Members
                                                                                                           Currently, in calculating a Watch List
                                                Reform and Consumer Protection Act                                                                                because all Members’ long positions in
                                                                                                        Member’s overall margin charge (i.e., a
                                                entitled the Payment, Clearing, and                     Watch List Member’s required deposit                      family-issued securities present specific
                                                Settlement Supervision Act of 2010                      to NSCC’s clearing fund), NSCC                            wrong-way risk. However, the proposal
                                                (‘‘Clearing Supervision Act’’) 1 and Rule                                                                         would still maintain the relation
                                                19b–4(n)(1)(i) 2 under the Securities                   (July 25, 2017), 82 FR 35563 (July 31, 2017) (SR–         between the FIS Charge and the
                                                Exchange Act of 1934 (‘‘Exchange                        NSCC–2017–010). The Commission did not receive            Member’s risk of default (i.e., the
                                                Act’’).3 The Advance Notice was                         any comments on that proposal.                            Member’s credit risk), while at the same
                                                                                                           5 Specific wrong-way risk is the risk that an
                                                published for comment in the Federal                                                                              time addressing the difference in risk
                                                                                                        exposure to a counterparty is highly likely to
                                                Register on August 8, 2017.4 The                        increase when the creditworthiness of that                posed by equity and fixed-income
                                                                                                        counterparty is deteriorating. See Principles for         securities. As such, NSCC proposes in
                                                  1 12 U.S.C. 5465(e)(1). The Financial Stability
                                                                                                        financial market infrastructures, issued by the           the Advance Notice to apply the FIS
                                                Oversight Council designated NSCC a systemically        Committee on Payment and Settlement Systems and
                                                important financial market utility on July 18, 2012.
                                                                                                                                                                  Charge to fixed-income securities that
                                                                                                        the Technical Committee of the International
                                                See Financial Stability Oversight Council 2012          Organization of Securities Commissions 47 n.65            are family-issued securities of non-
                                                Annual Report, Appendix A, http://                      (April 2012), available at http://www.bis.org/publ/       Watch List Members at a rate of no less
                                                www.treasury.gov/initiatives/fsoc/Documents/2012        cpss101a.pdf.                                             than 40 percent, and to equities that are
                                                %20Annual%20Report.pdf. Therefore, NSCC is                 6 As part of this proposal, NSCC proposes to
                                                required to comply with the Clearing Supervision                                                                  family-issued securities of non-Watch
                                                                                                        define in its rules that, for a given Member, a
                                                Act and file advance notices with the Commission.       family-issued security is a security that was issued
                                                See 12 U.S.C. 5465(e).                                  by such Member or an affiliate of such Member.               8 More specifically, fixed-income securities that
                                                  2 17 CFR 240.19b–4(n)(1)(i).                             7 As part of its ongoing monitoring of its             are family-issued securities are charged a rate of no
                                                  3 15 U.S.C. 78s(b)(1).                                                                                          less than 80 percent for firms that are rated 6 or 7
                                                                                                        membership, NSCC utilizes an internal credit risk
                                                  4 Securities Exchange Act Release No. 81286           rating matrix to rate its risk exposures to its           on the credit risk rating matrix, and no less than
                                                (August 2, 2017), 82 FR 37141 (August 8, 2017)          Members based on a scale from 1 (the strongest) to        40 percent for firms that are rated 5 on the credit
sradovich on DSK3GMQ082PROD with NOTICES




                                                (SR–NSCC–2017–804) (‘‘Notice’’). NSCC also filed a      7 (the weakest). Members that fall within the             risk rating matrix. Equity securities that are family-
                                                related proposed rule change with the Commission        weakest three rating categories (i.e., 5, 6, and 7) are   issued securities are charged a rate of 100 percent
                                                pursuant to Section 19(b)(1) of the Exchange Act        placed on NSCC’s ‘‘Watch List’’ and, as provided          for firms that are rated 6 or 7 on the credit risk
                                                and Rule 19b–4 thereunder, seeking approval of          under NSCC’s Rules and Procedures (‘‘Rules’’), may        rating matrix, and no less than 50 percent for firms
                                                changes to its rules necessary to implement the         be subject to enhanced surveillance or additional         that are rated 5 on the credit risk rating matrix.
                                                Advance Notice. 15 U.S.C. 78s(b)(1) and 17 CFR          margin charges. See Section 4 of Rule 2B and                 9 In a default scenario, NSCC would receive the

                                                240.19b–4, respectively. The proposed rule change       Section I(B)(1) of Procedure XV of NSCC’s Rules,          family-issued securities from a Member’s
                                                was published in the Federal Register on July 31,       available at http://dtcc.com/∼/media/Files/               guaranteed long transactions and would have to
                                                2017. Securities Exchange Act Release No. 81203         Downloads/legal/rules/nscc_rules.pdf.                     liquidate the holding to unwind NSCC’s position.



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Document Created: 2017-09-13 00:09:03
Document Modified: 2017-09-13 00:09:03
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 43052 

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