68422 Federal Register / Vol. 69, No. 226 / Wednesday, November 24, 2004 / Notices 

premium filings to the PBGC 

electronically. This alternative e-filing 

method is being developed in 

connection with an anticipated PBGC 

proposal to require electronic premium 

filing in the near future. 

In connection with and as part of the 

new filing standards, the PBGC is 

providing for a new method for 

certifying premium filings made using 

private-sector software. Currently, a 

plan’s premium filing must be certified 

by the plan administrator and, in many 

cases, also by an enrolled actuary. My 

PAA, which uses interactive software on 

the PBGC’s Web site, permits both a 

plan administrator and an enrolled 

actuary to certify the same filing, but the 

PBGC anticipates that private-sector 

software developers will find it difficult 

or impossible to implement such a 

feature, which requires both the plan 

administrator and the enrolled actuary 

to access the same filing electronically. 

Accordingly, the PBGC is introducing 

a new premium filing certification 

methodology for premium filings made 

with private-sector software. The new 

methodology requires one responsible 

person (who may but need not be either 

the plan administrator or the enrolled 

actuary) to certify a private-sector 

software premium filing. If the 

responsible person is not the plan 

administrator, the certification will also 

state that the responsible person is 

authorized to act by the plan 

administrator and has a written 

representation from the plan 

administrator that the filing is proper. If 

the responsible person is not the 

enrolled actuary, the certification for a 

filing that includes actuarial items 

(variable-rate premium computations or 

certain variable-rate premium 

exemptions) will also state that the 

responsible person has a written 

representation from the enrolled actuary 

that the actuarial items in the filing are 

proper. The responsible person may be 

either the plan administrator or the 

enrolled actuary, and if not, must be at 

an appropriate level of authority, such 

as an officer of the plan sponsor. 

The PBGC intends to request that 

OMB approve this revision of the 

collections of information. An agency 

may not conduct or sponsor, and a 

person is not required to respond to, a 

collection of information unless it 

displays a currently valid OMB control 

number. 

The PBGC estimates that it will 

receive premium filings annually from 

about 28,900 plan administrators and 

that the total annual burden of the 

collection of information will be about 

3,478 hours and $18,172,550. (These 

estimates include paper and electronic 

filings.) 

The PBGC is soliciting public 

comments to—

• Evaluate whether the collections of 

information are necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of 

collection of information 1212–0009, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collections of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses.

Issued in Washington, DC, this 19th day of 

November, 2004. 

Stuart A. Sirkin, 

Director, Corporate Policy and Research 

Department, Pension Benefit Guaranty 

Corporation.

[FR Doc. 04–26051 Filed 11–23–04; 8:45 am] 

BILLING CODE 7708–01–P

RAILROAD RETIREMENT BOARD

2005 Railroad Experience Rating 

Proclamations, Monthly Compensation 

Base and Other Determinations

AGENCY: Railroad Retirement Board.

ACTION: Notice.

SUMMARY: 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 balance to the credit of the 

Railroad Unemployment Insurance 

(RUI) Account, as of June 30, 2004, is 

$98,626,277.48; 

2. The September 30, 2004, balance of 

any new loans to the RUI Account, 

including accrued interest, is zero; 

3. The system compensation base is 

$3,119,631,126.68 as of June 30, 2004; 

4. The cumulative system unallocated 

charge balance is ($257,789,781.80) as of 

June 30, 2004; 

5. The pooled credit ratio for calendar 

year 2005 is zero; 

6. The pooled charged ratio for 

calendar year 2005 is zero; 

7. The surcharge rate for calendar year 

2005 is 1.5 percent; 

8. The monthly compensation base 

under section 1(i) of the Act is $1,150 

for months in calendar year 2005; 

9. The amount described in section 

1(k) of the Act as ‘‘2.5 times the monthly 

compensation base’’ is $2,875 for base 

year (calendar year) 2005; 

10. 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 $1,485 for months in 

calendar year 2005; 

11. The amount described in section 

3 of the Act as ‘‘2.5 times the monthly 

compensation base’’ is $2,875 for base 

year (calendar year) 2005; 

12. The amount described in section 

4(a–2)(i)(A) of the Act as ‘‘2.5 times the 

monthly compensation base’’ is $2,875 

with respect to disqualifications ending 

in calendar year 2005; 

13. The maximum daily benefit rate 

under section 2(a)(3) of the Act is $56 

with respect to days of unemployment 

and days of sickness in registration 

periods beginning after June 30, 2005.

DATES: The balance in notice (1) and the 

determinations made in notices (3) 

through (7) are based on data as of June 

30, 2004. The balance in notice (2) is 

based on data as of September 30, 2004. 

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 2005. 

The determinations made in notices (8) 

through (12) are effective January 1, 

2005. The determination made in notice 

(13) is effective for registration periods 

beginning after June 30, 2005.

ADDRESSES: Secretary to the Board, 

Railroad Retirement Board, 844 Rush 

Street, Chicago, Illinois 60611–2092.

FOR FURTHER INFORMATION CONTACT:

Marla L. Huddleston, Bureau of the 

Actuary, Railroad Retirement Board, 844 

Rush Street, Chicago, Illinois 60611–

2092, telephone (312) 751–4779.

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, 2004, the 

computation of the calendar year 2005 

monthly compensation base (section 1(i) 

of the Act) and amounts described in

Federal Register / Vol. 69, No. 226 / Wednesday, November 24, 2004 / Notices 68423

115 U.S.C. 78l(d).

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, 2005, 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, 2005. 

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 system compensation base as of 

June 30, 1991 was $2,763,287,237.04. 

The system compensation base for June 

30, 2004 was $3,119,631,126.68. The 

ratio of $3,119,631,126.68 to 

$2,763,287,237.04 is 1.12895651. 

Multiplying 1.12895651 by $100 million 

yields $112,895,651. Multiplying $50 

million by 1.12895651 produces 

$56,447,826. The Account balance on 

June 30, 2004, was $98,626,277.48. 

Accordingly, the surcharge rate for 

calendar year 2005 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 2005 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 2005 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. 

The calendar year 2005 tier 1 tax base 

is $90,000. Subtracting $37,800 from 

$90,000 produces $52,200. Dividing 

$52,200 by $56,700 yields a ratio of 

0.92063492. Adding one gives 

1.92063492. Multiplying $600 by the 

amount 1.92063492 produces the 

amount of $1,152.38, which must then 

be rounded to $1,150. Accordingly, the 

monthly compensation base is 

determined to be $1,150 for months in 

calendar year 2005.

Amounts Related to Changes in 

Monthly Compensation Base 

For years after 1988, sections 1(k), 

2(c), 3 and 4(a–2)(i)(A) 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. Multiplying 

2.5 by the calendar year 2005 monthly 

compensation base of $1,150 produces 

$2,875. Accordingly, the amount 

determined under section 1(k) is $2,875 

for calendar year 2005. 

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 2005 monthly 

compensation base is $1,150. The ratio 

of $1,150 to $600 is 1.91666667. 

Multiplying 1.91666667 by $775 

produces $1,485. Accordingly, the 

amount determined under section 2(c) is 

$1,485 for months in calendar year 

2005. 

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. 

Multiplying 2.5 by the calendar year 

2005 monthly compensation base of 

$1,150 produces $2,875. Accordingly, 

the amount determined under section 3 

is $2,875 for calendar year 2005. 

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 2005 monthly 

compensation base of $1,150 produces 

$2,875. Accordingly, the amount 

determined under section 4(a–2)(i)(A) is 

$2,875 for calendar year 2005. 

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, 2005, 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 2004 monthly 

compensation base is $1,130. 

Multiplying $1,130 by 0.05 yields 

$56.50, which must then be rounded 

down to $56. Accordingly, the 

maximum daily benefit rate for days of 

unemployment and days of sickness 

beginning in registration periods after 

June 30, 2005, is determined to be $56.

Dated: November 17, 2004.

By Authority of the Board. 

Beatrice Ezerski, 

Secretary to the Board.

[FR Doc. 04–25973 Filed 11–23–04; 8:45 am] 

BILLING CODE 7905–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

Issuer Delisting; Notice of Application 

of Southwest Gas Corporation To 

Withdraw Its Common Stock, $1.00 Par 

Value, From Listing and Registration 

on the Pacific Exchange, Inc. File No. 

1–07850 

November 18, 2004. 

On November 3, 2004, Southwest Gas 

Corporation, a Nevada corporation 

(‘‘Issuer’’), filed an application with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

12(d) of the Securities Exchange Act of 

1934 (‘‘Act’’) 1 and Rule 12d2–2(d)