🚂Proposed Data Collection Regulations for Railroad Employers
Proposed Collection; Comment Request
Summary
In accordance with the requirement of Section 3506(c)(2)(A) of the Paperwork Reduction Act of 1995 which provides opportunity for public comment on new or revised data collections, the Railroad Retirement Board (RRB) will publish periodic summaries of proposed data collections. Comments are invited on: (a) Whether the proposed information collection is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the RRB's estimate of the burden of the collection of the information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden related to the collection of information on respondents, including the use of automated collection techniques or other forms of information technology. 1. Title and purpose of information collection: Employer's Quarterly Report of Contributions under the Railroad Unemployment Insurance Act; OMB 3220-0012. Under Section 8 of the Railroad Unemployment Insurance Act (RUIA) (45 U.S.C. 358), the RRB determines the amount of an employer's contribution, primarily on the basis of the RUIA benefits paid, both unemployment and sickness, to the employees of the railroad employer. These experienced-based contributions take into account the frequency, volume, and duration of the employees' unemployment and sickness benefits. Each employer's contribution rate includes a component for administrative expenses as well as a component to cover costs shared by all employers. The regulations prescribing the manner and conditions for remitting the contributions and for adjusting overpayments or underpayments of contributions are contained in 20 CFR 345. RRB Form DC-1, Employer's Quarterly Report of Contributions under the Railroad Unemployment Insurance Act, is used by railroad employers to report and remit their quarterly contributions to the RRB. Employers can use either the manual version of the form or its internet equivalent. One response is requested quarterly of each respondent and completion is mandatory. The RRB proposes the following changes to the manual and electronic versions of Form DC-1: <bullet> Top of page: Changed "Employer Number" to "Employer BA Number". <bullet> Top of page: Changed "Calendar Year and Quarter" to "Reporting Period (Calendar Year and Quarter)". <bullet> Field 1: Changed "Current Reporting Period" to "Reporting Period Compensation". <bullet> Field 2: Changed "Compensation Adjustments reported on Form BA-4" to "Compensation Adjustments--Prior Year Compensation Adjustments Reported on Form(s) BA-4 in the Reporting Period". <bullet> Field 3: Changed "Total" to "Total Reporting Period Compensation". <bullet> Field 4: Changed "Total" to "Total Compensation and Corrections". <bullet> Form instruction: Updated the Paperwork Reduction Act section and instructions to match field name changes to the form.
Agencies
- Railroad Retirement Board
Business Impact
$$ - Med
The document outlines compliance and regulatory requirements for railroad employers regarding contribution reporting under the Railroad Unemployment Insurance Act. It expresses the necessity for continuous data collection, impacting the financial obligations of these businesses. The estimated respondent burden indicates significant time and resources required for compliance.