Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 64455 

11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b–4(f)(6). 13 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written notice of its intent to file 

the proposed rule change, along with a brief 

description and the text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change. 

14 17 CFR 240.19b–4(f)(6). 

15 17 CFR 240.19b–4(f)(6)(iii). 

16For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 17 17 CFR 200.30–3(a)(12). 

the Exchange only if they offer investors 

higher quality and better value than 

services offered by others. The Exchange 

reiterates that the proposed rule change 

is being proposed in the context of the 

technology integration of the BGM 

Affiliated Exchanges. Thus, the 

Exchange believes this proposed rule 

change is necessary to permit fair 

competition among national securities 

exchanges. In addition, the Exchange 

believes the proposed rule change will 

benefit Exchange participants in that it 

is one of several changes necessary to 

achieve a consistent technology offering 

by the BGM Affiliated Exchanges. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A) of the Act 11 and Rule 19b– 

4(f)(6) thereunder.12 Because the 

foregoing proposed rule change does 

not: (i) Significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it is filed, or such shorter time as 

the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act and Rule 19b– 

4(f)(6) thereunder.13

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 14 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 15

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing, noting that a waiver of the 

operative delay will allow the Exchange 

to continue to strive towards a complete 

technology integration of the BGM 

Affiliated Exchanges, with gradual rollouts of new functionality to ensure 

stability of the System. The Exchange 

also believes that the benefit to 

Exchange Users expected from the 

proposed rule change—greater 

flexibility in their efforts to fill orders— 

should not be delayed. Further, the 

Exchange states that introduction of the 

optional routing strategies will not 

require any systems changes by 

Exchange Users that would necessitate a 

delay, as selection of the routing 

strategies is entirely optional and Users 

will not be affected by the change unless 

they select to use the newly offered 

functionality. The Commission believes 

that waiving the 30-day operative delay 

is consistent with the protection of 

investors and the public interest. 

Therefore, the Commission hereby 

waives the operative delay and 

designates the proposed rule change 

operative upon filing.16

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

BYX–2014–028 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–BYX–2014–028. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE., 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

offices of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–BYX– 

2014–028, and should be submitted on 

or before November 19, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–25671 Filed 10–28–14; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No. SSA–2014–0064] 

Cost-of-Living Increase and Other 

Determinations for 2015 

AGENCY: Social Security Administration. 

ACTION: Notice. 

SUMMARY: Under title II of the Social 

Security Act (Act), there will be a 1.7 

percent cost-of-living increase in Social 

Security benefits effective December 

2014. In addition, the national average 

wage index for 2013 is $44,888.16. The 

cost-of-living increase and national 

average wage index affect other program 

parameters as described below. 

FOR FURTHER INFORMATION CONTACT: 

Susan C. Kunkel, Office of the Chief 

Actuary, Social Security 

Administration, 6401 Security 

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64456 Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 

Boulevard, Baltimore, MD 21235, (410) 

965–3000. Information relating to this 

announcement is available on our 

Internet site at www.socialsecurity.gov/

oact/cola/index.html. For information 

on eligibility or claiming benefits, call 

1–800–772–1213 (TTY 1–800–325– 

0778), or visit our Internet site at 

www.socialsecurity.gov. 

SUPPLEMENTARY INFORMATION: Because of 

the 1.7 percent cost-of-living increase, 

the following items will increase for 

2015: 

(1) The maximum Federal 

Supplemental Security Income (SSI) 

monthly benefit amounts for 2015 under 

title XVI of the Act will be $733 for an 

eligible individual, $1,100 for an 

eligible individual with an eligible 

spouse, and $367 for an essential 

person; 

(2) The special benefit amount under 

title VIII of the Act for certain World 

War II veterans will be $549.75 for 2015; 

(3) The student earned income 

exclusion under title XVI of the Act will 

be $1,780 per month in 2015, but not 

more than $7,180 for all of 2015; 

(4) The dollar fee limit for services 

performed as a representative payee will 

be $41 per month ($78 per month in the 

case of a beneficiary who is disabled 

and has an alcoholism or drug addiction 

condition that leaves him or her 

incapable of managing benefits) in 2015; 

and 

(5) The dollar limit on the 

administrative-cost fee assessment 

charged to an appointed representative 

such as an attorney, agent, or other 

person who represents claimants will be 

$91 beginning in December 2014. 

The national average wage index for 

2013 is $44,888.16. This index affects 

the following amounts: 

(1) The Old-Age, Survivors, and 

Disability Insurance (OASDI) 

contribution and benefit base will be 

$118,500 for remuneration paid in 2015 

and self-employment income earned in 

taxable years beginning in 2015; 

(2) The monthly exempt amounts 

under the OASDI retirement earnings 

test for taxable years ending in calendar 

year 2015 will be $1,310 for 

beneficiaries who will attain their 

Normal Retirement Age (NRA) (defined 

below in the Retirement Earnings Test 

Exempt Amounts section below) after 

2015 and $3,490 for those who attain 

NRA in 2015; 

(3) The dollar amounts (‘‘bend 

points’’) used in the primary insurance 

amount (PIA) benefit formula for 

workers who become eligible for 

benefits, or who die before becoming 

eligible, in 2015 will be $826 and 

$4,980; 

(4) The bend points used in the 

formula for computing maximum family 

benefits for workers who become 

eligible for benefits, or who die before 

becoming eligible, in 2015 will be 

$1,056, $1,524, and $1,987; 

(5) The taxable earnings a person 

must have to be credited with a quarter 

of coverage in 2015 will be $1,220; 

(6) The ‘‘old-law’’ contribution and 

benefit base under title II of the Act will 

be $88,200 for 2015; 

(7) The monthly amount deemed to 

constitute substantial gainful activity for 

statutorily blind persons in 2015 will be 

$1,820. The corresponding amount for 

non-blind disabled persons will be 

$1,090; 

(8) The earnings threshold 

establishing a month as a part of a trial 

work period will be $780 for 2015; and 

(9) Coverage thresholds for 2015 will 

be $1,900 for domestic workers and 

$1,600 for election officials and election 

workers. 

According to section 215(i)(2)(D) of 

the Act, we must publish the benefit 

increase percentage and the revised 

table of ‘‘special minimum’’ benefits 

within 45 days after the close of the 

third calendar quarter of 2014. We must 

also publish by November 1: The 

national average wage index for 2013 

(215(a)(1)(D)), the OASDI fund ratio for 

2014 (section 215(i)(2)(C)(ii)), the 

OASDI contribution and benefit base for 

2015 (section 230(a)), the earnings 

required to be credited with a quarter of 

coverage in 2015 (section 213(d)(2)), the 

monthly exempt amounts under the 

Social Security retirement earnings test 

for 2015 (section 203(f)(8)(A)), the 

formula for computing a PIA for workers 

who first become eligible for benefits or 

die in 2015 (section 215(a)(1)(D)), and 

the formula for computing the 

maximum benefits payable to the family 

of a worker who first becomes eligible 

for old-age benefits or dies in 2015 

(section 203(a)(2)(C)). 

Cost-of-Living Increases 

General 

The cost-of-living increase is 1.7 

percent for benefits under titles II and 

XVI of the Act. Under title II, OASDI 

benefits will increase by 1.7 percent for 

individuals eligible for December 2014 

benefits, payable in January 2015. We 

base this increase on the authority 

contained in section 215(i) of the Act. 

Pursuant to section 1617 of the Act, 

Federal SSI payment levels will also 

increase by 1.7 percent effective for 

payments made for January 2015 but 

paid on December 31, 2014. 

Computation 

Computation of the cost-of-living 

increase is based on an increase in a 

Consumer Price Index produced by the 

Bureau of Labor Statistics. At the time 

the Act was amended to provide cost-ofliving increases, only one Consumer 

Price Index existed, namely the 

Consumer Price Index for Urban Wage 

Earners and Clerical Workers. Although 

the Bureau of Labor Statistics has since 

developed other consumer price 

indices, legal precedent requires us to 

use the Consumer Price Index for Urban 

Wage Earners and Clerical Workers. We 

refer to this index in the following 

paragraphs as the CPI. 

Section 215(i)(1)(B) of the Act defines 

a ‘‘computation quarter’’ to be a third 

calendar quarter in which the average 

CPI exceeded the average CPI in the 

previous computation quarter. The last 

cost-of-living increase, effective for 

those eligible to receive title II benefits 

for December 2013, was based on the 

CPI increase from the third quarter of 

2012 to the third quarter of 2013. 

Therefore, the last computation quarter 

is the third quarter of 2013. The law 

states that a cost-of-living increase for 

benefits is determined based on the 

percentage increase, if any, in the CPI 

from the last computation quarter to the 

third quarter of the current year. 

Therefore, we compute the increase in 

the CPI from the third quarter of 2013 

to the third quarter of 2014. 

Section 215(i)(1) of the Act states that 

the CPI for a cost-of-living computation 

quarter is the arithmetic mean of this 

index for the 3 months in that quarter. 

In accordance with 20 CFR 404.275, we 

round the arithmetic mean, if necessary, 

to the nearest 0.001. The CPI for each 

month in the quarter ending September 

30, 2013, is: For July 2013, 230.084; for 

August 2013, 230.359; and for 

September 2013, 230.537. The 

arithmetic mean for the calendar quarter 

ending September 30, 2013 is 230.327. 

The CPI for each month in the quarter 

ending September 30, 2014, is: For July 

2014, 234.525; for August 2014, 

234.030; and for September 2014, 

234.170. The arithmetic mean for the 

calendar quarter ending September 30, 

2014 is 234.242. The CPI for the 

calendar quarter ending September 30, 

2014, exceeds that for the calendar 

quarter ending September 30, 2013 by 

1.7 percent (rounded to the nearest 0.1). 

Therefore, beginning December 2014 a 

cost-of-living benefit increase of 1.7 

percent is effective for benefits under 

title II of the Act. 

Section 215(i) also specifies that a 

benefit increase under title II, effective 

for December of any year, will be 

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Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 64457 

limited to the increase in the national 

average wage index for the prior year if 

the OASDI fund ratio for that year is 

below 20.0 percent. The OASDI fund 

ratio for a year is the ratio of the 

combined assets of the OASDI Trust 

Funds at the beginning of that year to 

the combined expenditures of these 

funds during that year. For 2014, the 

OASDI fund ratio is assets of $2,764,431 

million divided by estimated 

expenditures of $862,043 million, or 

320.7 percent. Because the 320.7 

percent OASDI fund ratio exceeds 20.0 

percent, the benefit increase for 

December 2014 is not limited. 

Program Amounts That Change Based 

on the Cost-of-Living Increase 

The following program amounts 

change based on the cost-of-living 

increase: (1) Title II benefits; (2) title 

XVI benefits; (3) title VIII benefits; (4) 

the student earned income exclusion; 

(5) the fee for services performed by a 

representative payee; and (6) the 

appointed representative fee 

assessment. 

Title II Benefit Amounts 

In accordance with section 215(i) of 

the Act, for workers and family 

members for whom eligibility for 

benefits (i.e., the worker’s attainment of 

age 62, or disability or death before age 

62) occurred before 2015, benefits will 

increase by 1.7 percent beginning with 

benefits for December 2014, which are 

payable in January 2015. For first 

eligibility after 2014, the 1.7 percent 

increase will not apply. 

For eligibility after 1978, we 

determine benefits using a formula 

provided by the Social Security 

Amendments of 1977 (Pub. L. 95–216), 

as described later in this notice. 

For eligibility before 1979, we 

determine benefits by using a benefit 

table. The table is available on the 

Internet at www.socialsecurity.gov/oact/ 

ProgData/tableForm.html or by writing 

to: Social Security Administration, 

Office of Public Inquiries, Windsor Park 

Building, 6401 Security Boulevard, 

Baltimore, MD 21235. 

Section 215(i)(2)(D) of the Act 

requires that, when we determine an 

increase in Social Security benefits, we 

will publish in the Federal Register a 

revision of the range of the PIAs and 

maximum family benefits based on the 

dollar amount and other provisions 

described in section 215(a)(1)(C)(i). We 

refer to these benefits as ‘‘special 

minimum’’ benefits. These benefits are 

payable to certain individuals with long 

periods of low earnings. To qualify for 

these benefits, an individual must have 

at least 11 years of coverage. To earn a 

year of coverage for purposes of the 

special minimum benefit, a person must 

earn at least a certain proportion of the 

old-law contribution and benefit base 

(described later in this notice). For years 

before 1991, the proportion is 25 

percent; for years after 1990, it is 15 

percent. In accordance with section 

215(a)(1)(C)(i), the table below shows 

the revised range of PIAs and maximum 

family benefit amounts after the 1.7 

percent benefit increase. 

SPECIAL MINIMUM PIAS AND MAXIMUM

FAMILY BENEFITS PAYABLE FOR DECEMBER 2014 

Number of 

years of 

coverage 

PIA 

Maximum 

family 

benefit 

11 .............................. $39.90 $60.80 

12 .............................. 81.50 123.40 

13 .............................. 123.20 185.90 

14 .............................. 164.60 248.00 

15 .............................. 205.80 310.00 

16 .............................. 247.70 372.70 

17 .............................. 289.20 435.40 

18 .............................. 330.80 497.50 

19 .............................. 372.30 559.90 

20 .............................. 414.00 621.80 

21 .............................. 455.60 684.70 

22 .............................. 496.90 746.90 

23 .............................. 539.10 810.20 

24 .............................. 580.60 872.00 

25 .............................. 621.80 933.80 

26 .............................. 664.10 997.20 

27 .............................. 705.10 1,059.40 

28 .............................. 746.70 1,121.50 

29 .............................. 788.30 1,184.30 

30 .............................. 829.80 1,246.00 

Title XVI Benefit Amounts 

In accordance with section 1617 of 

the Act, maximum Federal SSI benefit 

amounts for the aged, blind, and 

disabled will increase by 1.7 percent 

effective January 2015. For 2014, we 

derived the monthly benefit amounts for 

an eligible individual, an eligible 

individual with an eligible spouse, and 

for an essential person—$721, $1,082, 

and $361, respectively—from yearly, 

unrounded Federal SSI benefit amounts 

of $8,657.26, $12,984.44, and $4,338.55. 

For 2015, these yearly unrounded 

amounts respectively increase by 1.7 

percent to $8,804.43, $13,205.18, and 

$4,412.31. We must round each of these 

resulting amounts, when not a multiple 

of $12, to the next lower multiple of 

$12. Therefore, the annual amounts, 

effective for 2015, are $8,796, $13,200, 

and $4,404. Dividing the yearly amounts 

by 12 gives the respective monthly 

amounts for 2015—$733, $1,100, and 

$367. For an eligible individual with an 

eligible spouse, we equally divide the 

amount payable between the two 

spouses. 

Title VIII Benefit Amount 

Title VIII of the Act provides for 

special benefits to certain World War II 

veterans who reside outside the United 

States. Section 805 provides that ‘‘[t]he 

benefit under this title payable to a 

qualified individual for any month shall 

be in an amount equal to 75 percent of 

the Federal benefit rate [the maximum 

amount for an eligible individual] under 

title XVI for the month, reduced by the 

amount of the qualified individual’s 

benefit income for the month.’’ 

Therefore, the monthly benefit for 2015 

under this provision is 75 percent of 

$733, or $549.75. 

Student Earned Income Exclusion 

A blind or disabled child who is a 

student regularly attending school, 

college, university, or a course of 

vocational or technical training can 

have limited earnings that do not count 

against his or her SSI benefits. The 

maximum amount of such income that 

we may exclude in 2014 is $1,750 per 

month, but not more than $7,060 in all 

of 2014. These amounts increase based 

on a formula set forth in regulation 20 

CFR 416.1112. 

To compute each of the monthly and 

yearly maximum amounts for 2015, we 

increase the unrounded amount for 

2014 by the latest cost-of-living 

increase. If the amount so calculated is 

not a multiple of $10, we round it to the 

nearest multiple of $10. The unrounded 

monthly amount for 2014 is $1,751.59. 

We increase this amount by 1.7 percent 

to $1,781.37, which we then round to 

$1,780. Similarly, we increase the 

unrounded yearly amount for 2014, 

$7,060.62, by 1.7 percent to $7,180.65 

and round this to $7,180. Therefore, the 

maximum amount of the income 

exclusion applicable to a student in 

2015 is $1,780 per month but not more 

than $7,180 in all of 2015. 

Fee for Services Performed as a 

Representative Payee 

Sections 205(j)(4)(A)(i) and 

1631(a)(2)(D)(i) of the Act permit a 

qualified organization to collect a 

monthly fee from a beneficiary for 

expenses incurred in providing services 

as the beneficiary’s representative 

payee. In 2014, the fee is limited to the 

lesser of: (1) 10 percent of the monthly 

benefit involved; or (2) $40 each month 

($77 each month when the beneficiary 

is entitled to disability benefits and has 

an alcoholism or drug addiction 

condition that makes the individual 

incapable of managing such benefits). 

The dollar fee limits are subject to 

increase by the cost-of-living increase, 

with the resulting amounts rounded to 

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64458 Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 

the nearest whole dollar amount. 

Therefore, we increase the current 

amounts by 1.7 percent to $41 and $78 

for 2015. 

Appointed Representative Fee 

Assessment 

Under sections 206(d) and 1631(d) of 

the Act, whenever we pay a fee to a 

representative such as an attorney, 

agent, or other person who represents 

claimants, we must impose on the 

representative an assessment to cover 

administrative costs. The assessment is 

no more than 6.3 percent of the 

representative’s authorized fee or, if 

lower, a dollar amount that is subject to 

increase by the cost-of-living increase. 

We derive the dollar limit for December 

2014 by increasing the unrounded limit 

for December 2013, $89.68, by 1.7 

percent, which is $91.20. We then 

round $91.20 to the next lower multiple 

of $1. The dollar limit effective for 

December 2014 is, therefore, $91. 

National Average Wage Index for 2013 

Computation 

We determined the national average 

wage index for calendar year 2013 based 

on the 2012 national average wage index 

of $44,321.67, announced in the Federal 

Register on November 5, 2013 (78 FR 

66413), and the percentage increase in 

average wages from 2012 to 2013, as 

measured by annual wage data. We 

tabulate the annual wage data, including 

contributions to deferred compensation 

plans, as required by section 209(k) of 

the Act. The average amounts of wages 

calculated from these data were 

$42,498.21 for 2012 and $43,041.39 for 

2013. To determine the national average 

wage index for 2013 at a level consistent 

with the national average wage indexing 

series for 1951 through 1977 (published 

December 29, 1978, at 43 FR 61016), we 

multiply the 2012 national average wage 

index of $44,321.67 by the percentage 

increase in average wages from 2012 to 

2013 (based on SSA-tabulated wage 

data) as follows. We round the result to 

the nearest cent. 

Amount 

Multiplying the national average wage 

index for 2012 ($44,321.67) by the ratio 

of the average wage for 2013 

($43,041.39) to that for 2012 

($42,498.21) produces the 2013 index, 

$44,888.16. The national average wage 

index for calendar year 2013 is about 

1.28 percent higher than the 2012 index. 

Program Amounts That Change Based 

on the National Average Wage Index 

The following amounts change with 

annual changes in the national average 

wage index: (1) The OASDI contribution 

and benefit base; (2) the exempt 

amounts under the retirement earnings 

test; (3) the dollar amounts, or bend 

points, in the PIA formula; (4) the bend 

points in the maximum family benefit 

formula; (5) the earnings required to 

credit a worker with a quarter of 

coverage; (6) the old-law contribution 

and benefit base (as determined under 

section 230 of the Act as in effect before 

the 1977 amendments); (7) the 

substantial gainful activity (SGA) 

amount applicable to statutorily blind 

individuals; and (8) the coverage 

threshold for election officials and 

election workers. Section 3121(x) of the 

Internal Revenue Code requires that the 

domestic employee coverage threshold 

be based on changes in the national 

average wage index. 

In addition to the amounts required 

by statute, two amounts increase under 

regulatory requirements—the SGA 

amount applicable to non-blind 

disabled persons, and the monthly 

earnings threshold that establishes a 

month as part of a trial work period for 

disabled beneficiaries. 

OASDI Contribution and Benefit Base 

General 

The OASDI contribution and benefit 

base is $118,500 for remuneration paid 

in 2015 and self-employment income 

earned in taxable years beginning in 

2015. The OASDI contribution and 

benefit base serves as the maximum 

annual earnings on which OASDI taxes 

are paid. It is also the maximum annual 

earnings used in determining a person’s 

OASDI benefits. 

Computation 

Section 230(b) of the Act provides the 

formula used to determine the OASDI 

contribution and benefit base. Under the 

formula, the base for 2015 is the larger 

of: (1) The 1994 base of $60,600 

multiplied by the ratio of the national 

average wage index for 2013 to that for 

1992; or (2) the current base ($117,000). 

If the resulting amount is not a multiple 

of $300, we round it to the nearest 

multiple of $300. 

Amount 

Multiplying the 1994 OASDI 

contribution and benefit base ($60,600) 

by the ratio of the national average wage 

index for 2013 ($44,888.16 as 

determined above) to that for 1992 

($22,935.42) produces $118,603.56. We 

round this amount to $118,500. Because 

$118,500 exceeds the current base 

amount of $117,000, the OASDI 

contribution and benefit base is 

$118,500 for 2015. 

Retirement Earnings Test Exempt 

Amounts 

General 

We withhold Social Security benefits 

when a beneficiary under the NRA has 

earnings over the applicable retirement 

earnings test exempt amount. NRA is 

the age of initial benefit entitlement for 

which the benefit, before rounding, is 

equal to the worker’s PIA. The NRA is 

age 66 for those born in 1943–54, and 

it gradually increases reaching age 67 

for those born in 1960 or later. A higher 

exempt amount applies in the year in 

which a person attains his or her NRA, 

but only for earnings in months before 

such attainment. A lower exempt 

amount applies at all other ages below 

NRA. Section 203(f)(8)(B) of the Act, as 

amended by section 102 of Pub. L. 104– 

121, provides formulas for determining 

the monthly exempt amounts. The 

annual exempt amounts are exactly 12 

times the monthly amounts. 

For beneficiaries who attain NRA in 

the year, we withhold $1 in benefits for 

every $3 of earnings over the annual 

exempt amount for months before NRA. 

For all other beneficiaries under NRA, 

we withhold $1 in benefits for every $2 

of earnings over the annual exempt 

amount. 

Computation 

Under the formula applicable to 

beneficiaries attaining NRA after 2015, 

the lower monthly exempt amount for 

2015 is the larger of: (1) The 1994 

monthly exempt amount multiplied by 

the ratio of the national average wage 

index for 2013 to that for 1992; or (2) the 

2014 monthly exempt amount ($1,290). 

If the resulting amount is not a multiple 

of $10, we round it to the nearest 

multiple of $10. 

Under the formula that applies to 

beneficiaries attaining NRA in 2015, the 

higher monthly exempt amount for 2015 

is the larger of: (1) The 2002 monthly 

exempt amount multiplied by the ratio 

of the national average wage index for 

2013 to that for 2000; or (2) the 2014 

monthly exempt amount ($3,450). If the 

resulting amount is not a multiple of 

$10, we round it to the nearest multiple 

of $10. 

Lower Exempt Amount 

Multiplying the 1994 retirement 

earnings test monthly exempt amount of 

$670 by the ratio of the national average 

wage index for 2013 ($44,888.16) to that 

for 1992 ($22,935.42) produces 

$1,311.29. We round this to $1,310. 

Because $1,310 exceeds the current 

exempt amount of $1,290, the lower 

retirement earnings test monthly exempt 

amount is $1,310 for 2015. The lower 

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Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 64459 

annual exempt amount is $15,720 under 

the retirement earnings test. 

Higher Exempt Amount 

Multiplying the 2002 retirement 

earnings test monthly exempt amount of 

$2,500 by the ratio of the national 

average wage index for 2013 

($44,888.16) to that for 2000 

($32,154.82) produces $3,490.00. We 

round this to $3,490. Because $3,490 

exceeds the current exempt amount of 

$3,450, the higher retirement earnings 

test monthly exempt amount is $3,490 

for 2015. The higher annual exempt 

amount is $41,880 under the retirement 

earnings test. 

Primary Insurance Amount Benefit 

Formula 

General 

The Social Security Amendments of 

1977 provided a method for computing 

benefits that generally applies when a 

worker first becomes eligible for benefits 

after 1978. This method uses the 

worker’s average indexed monthly 

earnings (AIME) to compute the PIA. 

We adjust the formula each year to 

reflect changes in general wage levels, 

as measured by the national average 

wage index. 

We also adjust, or index, a worker’s 

earnings to reflect the change in the 

general wage levels that occurred during 

the worker’s years of employment. Such 

indexing ensures that a worker’s future 

benefit level will reflect the general rise 

in the standard of living that will occur 

during his or her working lifetime. To 

compute the AIME, we first determine 

the required number of years of 

earnings. We then select the number of 

years with the highest indexed earnings, 

add the indexed earnings for those 

years, and divide the total amount by 

the total number of months in those 

years. We then round the resulting 

average amount down to the next lower 

dollar amount. The result is the AIME. 

Computing the PIA 

The PIA is the sum of three separate 

percentages of portions of the AIME. In 

1979 (the first year the formula was in 

effect), these portions were the first 

$180, the amount between $180 and 

$1,085, and the amount over $1,085. We 

call the dollar amounts in the formula 

governing the portions of the AIME the 

‘‘bend points’’ of the formula. Therefore, 

the bend points for 1979 were $180 and 

$1,085. 

To obtain the bend points for 2015, 

we multiply each of the 1979 bendpoint amounts by the ratio of the 

national average wage index for 2013 to 

that average for 1977. We then round 

these results to the nearest dollar. 

Multiplying the 1979 amounts of $180 

and $1,085 by the ratio of the national 

average wage index for 2013 

($44,888.16) to that for 1977 ($9,779.44) 

produces the amounts of $826.21 and 

$4,980.21. We round these to $826 and 

$4,980. Therefore, the portions of the 

AIME to be used in 2015 are the first 

$826, the amount between $826 and 

$4,980, and the amount over $4,980. 

Therefore, for individuals who first 

become eligible for old-age insurance 

benefits or disability insurance benefits 

in 2015, or who die in 2015 before 

becoming eligible for benefits, their PIA 

will be the sum of: 

(a) 90 percent of the first $826 of their 

AIME, plus 

(b) 32 percent of their AIME over $826 

and through $4,980, plus 

(c) 15 percent of their AIME over 

$4,980. 

We round this amount to the next 

lower multiple of $0.10 if it is not 

already a multiple of $0.10. This 

formula and the rounding adjustment 

are stated in section 215(a) of the Act. 

Maximum Benefits Payable to a Family 

General 

The 1977 amendments continued the 

policy of limiting the total monthly 

benefits that a worker’s family may 

receive based on his or her PIA. Those 

amendments also continued the 

relationship between maximum family 

benefits and PIAs but changed the 

method of computing the maximum 

benefits that may be paid to a worker’s 

family. The Social Security Disability 

Amendments of 1980 (Pub. L. 96–265) 

established a formula for computing the 

maximum benefits payable to the family 

of a disabled worker. This formula 

applies to the family benefits of workers 

who first become entitled to disability 

insurance benefits after June 30, 1980, 

and who first become eligible for these 

benefits after 1978. For disabled workers 

initially entitled to disability benefits 

before July 1980 or whose disability 

began before 1979, we compute the 

family maximum payable the same as 

the old-age and survivor family 

maximum. 

Computing the Old-Age and Survivor 

Family Maximum 

The formula used to compute the 

family maximum is similar to that used 

to compute the PIA. It involves 

computing the sum of four separate 

percentages of portions of the worker’s 

PIA. In 1979, these portions were the 

first $230, the amount between $230 

and $332, the amount between $332 and 

$433, and the amount over $433. We 

refer to such dollar amounts in the 

formula as the ‘‘bend points’’ of the 

family-maximum formula. 

To obtain the bend points for 2015, 

we multiply each of the 1979 bendpoint amounts by the ratio of the 

national average wage index for 2013 to 

that average for 1977. Then we round 

this amount to the nearest dollar. 

Multiplying the amounts of $230, $332, 

and $433 by the ratio of the national 

average wage index for 2013 

($44,888.16) to that for 1977 ($9,779.44) 

produces the amounts of $1,055.71, 

$1,523.90, and $1,987.49. We round 

these amounts to $1,056, $1,524, and 

$1,987. Therefore, the portions of the 

PIAs to be used in 2015 are the first 

$1,056, the amount between $1,056 and 

$1,524, the amount between $1,524 and 

$1,987, and the amount over $1,987. 

Thus, for the family of a worker who 

becomes age 62 or dies in 2015 before 

age 62, we will compute the total 

benefits payable to them so that it does 

not exceed: 

(a) 150 percent of the first $1,056 of 

the worker’s PIA, plus 

(b) 272 percent of the worker’s PIA 

over $1,056 through $1,524, plus 

(c) 134 percent of the worker’s PIA 

over $1,524 through $1,987, plus 

(d) 175 percent of the worker’s PIA 

over $1,987. 

We then round this amount to the 

next lower multiple of $0.10 if it is not 

already a multiple of $0.10. This 

formula and the rounding adjustment 

are contained in section 203(a) of the 

Act. 

Quarter of Coverage Amount 

General 

The earnings required for a quarter of 

coverage in 2015 is $1,220. A quarter of 

coverage is the basic unit for 

determining if a worker is insured under 

the Social Security program. For years 

before 1978, we generally credited an 

individual with a quarter of coverage for 

each quarter in which wages of $50 or 

more were paid, or with 4 quarters of 

coverage for every taxable year in which 

$400 or more of self-employment 

income was earned. Beginning in 1978, 

employers generally report wages yearly 

instead of quarterly. With the change to 

yearly reporting, section 352(b) of the 

Social Security Amendments of 1977 

amended section 213(d) of the Act to 

provide that a quarter of coverage would 

be credited for each $250 of an 

individual’s total wages and selfemployment income for calendar year 

1978, up to a maximum of 4 quarters of 

coverage for the year. 

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Computation 

Under the prescribed formula, the 

quarter of coverage amount for 2015 is 

the larger of: (1) The 1978 amount of 

$250 multiplied by the ratio of the 

national average wage index for 2013 to 

that for 1976; or (2) the current amount 

of $1,200. Section 213(d) provides that 

if the resulting amount is not a multiple 

of $10, we round it to the nearest 

multiple of $10. 

Quarter of Coverage Amount 

Multiplying the 1978 quarter of 

coverage amount ($250) by the ratio of 

the national average wage index for 

2013 ($44,888.16) to that for 1976 

($9,226.48) produces $1,216.29. We 

then round this amount to $1,220. 

Because $1,220 exceeds the current 

amount of $1,200, the quarter of 

coverage amount is $1,220 for 2015. 

Old-Law Contribution and Benefit Base 

General 

The old-law contribution and benefit 

base for 2015 is $88,200. This base 

would have been effective under the Act 

without the enactment of the 1977 

amendments. 

The old-law contribution and benefit 

base is used by: 

(a) The Railroad Retirement program 

to determine certain tax liabilities and 

tier II benefits payable under that 

program to supplement the tier I 

payments that correspond to basic 

Social Security benefits, 

(b) the Pension Benefit Guaranty 

Corporation to determine the maximum 

amount of pension guaranteed under the 

Employee Retirement Income Security 

Act (section 230(d) of the Act), 

(c) Social Security to determine a year 

of coverage in computing the special 

minimum benefit, as described earlier, 

and 

(d) Social Security to determine a year 

of coverage (acquired whenever 

earnings equal or exceed 25 percent of 

the old-law base for this purpose only) 

in computing benefits for persons who 

are also eligible to receive pensions 

based on employment not covered 

under section 210 of the Act. 

Computation 

The old-law contribution and benefit 

base is the larger of: (1) The 1994 oldlaw base ($45,000) multiplied by the 

ratio of the national average wage index 

for 2013 to that for 1992; or (2) the 

current old-law base ($87,000). If the 

resulting amount is not a multiple of 

$300, we round it to the nearest 

multiple of $300. 

Amount 

Multiplying the 1994 old-law 

contribution and benefit base ($45,000) 

by the ratio of the national average wage 

index for 2013 ($44,888.16) to that for 

1992 ($22,935.42) produces $88,071.95. 

We round this amount to $88,200. 

Because $88,200 exceeds the current 

amount of $87,000, the old-law 

contribution and benefit base is $88,200 

for 2015. 

Substantial Gainful Activity Amounts 

General 

A finding of disability under titles II 

and XVI of the Act requires that a 

person, except for a title XVI disabled 

child, be unable to engage in SGA. A 

person who is earning more than a 

certain monthly amount is ordinarily 

considered to be engaging in SGA. The 

monthly earnings considered as SGA 

depends on the nature of a person’s 

disability. Section 223(d)(4)(A) of the 

Act specifies a higher SGA amount for 

statutorily blind individuals under title 

II while Federal regulations (20 CFR 

404.1574 and 416.974) specify a lower 

SGA amount for non-blind individuals. 

Computation 

The monthly SGA amount for 

statutorily blind individuals under title 

II for 2015 is the larger of: (1) Such 

amount for 1994 multiplied by the ratio 

of the national average wage index for 

2013 to that for 1992; or (2) such 

amount for 2014. The monthly SGA 

amount for non-blind disabled 

individuals for 2015 is the larger of: (1) 

Such amount for 2000 multiplied by the 

ratio of the national average wage index 

for 2013 to that for 1998; or (2) such 

amount for 2014. In either case, if the 

resulting amount is not a multiple of 

$10, we round it to the nearest multiple 

of $10. 

SGA Amount for Statutorily Blind 

Individuals 

Multiplying the 1994 monthly SGA 

amount for statutorily blind individuals 

($930) by the ratio of the national 

average wage index for 2013 

($44,888.16) to that for 1992 

($22,935.42) produces $1,820.15. We 

then round this amount to $1,820. 

Because $1,820 exceeds the current 

amount of $1,800, the monthly SGA 

amount for statutorily blind individuals 

is $1,820 for 2015. 

SGA Amount for Non-Blind Disabled 

Individuals 

Multiplying the 2000 monthly SGA 

amount for non-blind individuals ($700) 

by the ratio of the national average wage 

index for 2013 ($44,888.16) to that for 

1998 ($28,861.44) produces $1,088.71. 

We then round this amount to $1,090. 

Because $1,090 exceeds the current 

amount of $1,070, the monthly SGA 

amount for non-blind disabled 

individuals is $1,090 for 2015. 

Trial Work Period Earnings Threshold 

General 

During a trial work period of 9 

months in a rolling 60-month period, a 

beneficiary receiving Social Security 

disability benefits may test his or her 

ability to work and still receive monthly 

benefit payments. To be considered a 

trial work period month, earnings must 

be over a certain level. In 2015, any 

month in which earnings exceed $780 is 

considered a month of services for an 

individual’s trial work period. 

Computation 

The method used to determine the 

new amount is set forth in our 

regulations at 20 CFR 404.1592(b). 

Monthly earnings in 2015, used to 

determine whether a month is part of a 

trial work period, is the amount for 2001 

($530) multiplied by the ratio of the 

national average wage index for 2013 to 

that for 1999 or, if larger, the amount for 

2014. If the amount so calculated is not 

a multiple of $10, we round it to the 

nearest multiple of $10. 

Amount 

Multiplying the 2001 monthly 

earnings threshold ($530) by the ratio of 

the national average wage index for 

2013 ($44,888.16) to that for 1999 

($30,469.84) produces $780.80. We then 

round this amount to $780. Because 

$780 exceeds the current amount of 

$770, the monthly earnings threshold is 

$780 for 2015. 

Domestic Employee Coverage 

Threshold 

General 

The minimum amount a domestic 

worker must earn so that such earnings 

are covered under Social Security or 

Medicare is the domestic employee 

coverage threshold. For 2015, this 

threshold is $1,900. Section 3121(x) of 

the Internal Revenue Code provides the 

formula for increasing the threshold. 

Computation 

Under the formula, the domestic 

employee coverage threshold for 2015 is 

equal to the 1995 amount of $1,000 

multiplied by the ratio of the national 

average wage index for 2013 to that for 

1993. If the resulting amount is not a 

multiple of $100, we round it to the next 

lower multiple of $100. 

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Federal Register / Vol. 79, No. 209 / Wednesday, October 29, 2014 / Notices 64461 

Domestic Employee Coverage Threshold 

Amount 

Multiplying the 1995 domestic 

employee coverage threshold ($1,000) 

by the ratio of the national average wage 

index for 2013 ($44,888.16) to that for 

1993 ($23,132.67) produces $1,940.47. 

We then round this amount to $1,900. 

Therefore, the domestic employee 

coverage threshold amount is $1,900 for 

2015. 

Election Official and Election Worker 

Coverage Threshold 

General 

The minimum amount an election 

official and election worker must earn 

so the earnings are covered under Social 

Security or Medicare is the election 

official and election worker coverage 

threshold. For 2015, this threshold is 

$1,600. Section 218(c)(8)(B) of the Act 

provides the formula for increasing the 

threshold. 

Computation 

Under the formula, the election 

official and election worker coverage 

threshold for 2015 is equal to the 1999 

amount of $1,000 multiplied by the ratio 

of the national average wage index for 

2013 to that for 1997. If the amount we 

determine is not a multiple of $100, it 

we round it to the nearest multiple of 

$100. 

Election Worker Coverage Threshold 

Amount 

Multiplying the 1999 election worker 

coverage threshold amount ($1,000) by 

the ratio of the national average wage 

index for 2013 ($44,888.16) to that for 

1997 ($27,426.00) produces $1,636.70. 

We then round this amount to $1,600. 

Therefore, the election worker coverage 

threshold amount is $1,600 for 2015. 

(Catalog of Federal Domestic Assistance: 

Program Nos. 96.001 Social SecurityDisability Insurance; 96.002 Social SecurityRetirement Insurance; 96.004 Social SecuritySurvivors Insurance; 96.006 Supplemental 

Security Income) 

Carolyn W. Colvin, 

Acting Commissioner of Social Security. 

[FR Doc. 2014–25802 Filed 10–28–14; 8:45 am] 

BILLING CODE 4191–02–P 

DEPARTMENT OF STATE 

[Public Notice 8933] 

Culturally Significant Objects Imported 

for Exhibition Determinations: ‘‘Arts of 

Islamic Lands: Masterpieces From The 

al-Sabah Collection, Kuwait’’ 

AGENCY: Department of State. 

ACTION: Notice, correction. 

SUMMARY: On December 10, 2012, notice 

was published on page 73511 of the 

Federal Register (volume 77, number 

237) of determinations made by the 

Department of State pertaining to the 

exhibition ‘‘Arts of Islamic Lands: 

Masterpieces from The al-Sabah 

Collection, Kuwait.’’ The referenced 

notice is corrected here to include 

additional objects as part of the 

exhibition. Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, and Delegation of 

Authority No. 236–3 of August 28, 2000 

(and, as appropriate, Delegation of 

Authority No. 257 of April 15, 2003), I 

hereby determine that the additional 

objects to be included in the exhibition 

‘‘Arts of Islamic Lands: Masterpieces 

from The al-Sabah Collection, Kuwait,’’ 

imported from abroad for temporary 

exhibition within the United States, are 

of cultural significance. The additional 

objects are imported pursuant to a loan 

agreement with the foreign owner or 

custodian. I also determine that the 

exhibition or display of the additional 

objects at the Museum of Fine Arts, 

Houston, Houston, Texas, from on or 

about January 31, 2015, until on or 

about January 20, 2018, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. I have ordered that Public 

Notice of these Determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the additional objects, contact Paul W. 

Manning, Attorney-Adviser, Office of 

the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6469). The 

mailing address is U.S. Department of 

State, SA–5, L/PD, Fifth Floor (Suite 

5H03), Washington, DC 20522–0505. 

Dated: October 16, 2014. 

Kelly Keiderling, 

Principal Deputy Assistant Secretary, Bureau 

of Educational and Cultural Affairs, 

Department of State. 

[FR Doc. 2014–25728 Filed 10–28–14; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Twenty Second Meeting: RTCA Special 

Committee 217—Aeronautical 

Databases Joint With EUROCAE WG– 

44—Aeronautical Databases 

AGENCY: Federal Aviation 

Administration (FAA), U.S. Department 

of Transportation (DOT). 

ACTION: Notice of RTCA Special 

Committee 217—Aeronautical Databases 

Joint With EUROCAE WG–44— 

Aeronautical Databases. 

SUMMARY: The FAA is issuing this notice 

to advise the public of a meeting of 

RTCA Special Committee 217— 

Aeronautical Databases being held 

jointly with EUROCAE WG–44— 

Aeronautical Databases. 

DATES: The meeting will be held 

December 2–5, 2014 from 9:00 a.m. to 

5:00 p.m. 

ADDRESSES: The meeting will held at 

RTCA Headquarters, 1150 18th Street 

NW., Suite 910, Washington, DC. 

FOR FURTHER INFORMATION CONTACT: 

Sophie Bousquet, SBousquet@rtca.org, 

202–330–0663 or The RTCA Secretariat, 

1150 18th Street NW., Suite 910, 

Washington, DC 20036, or by telephone 

at (202) 833–9339, fax at (202) 833– 

9434, or Web site at http://www.rtca.org. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (Pub. L. 92– 

463, 5 U.S.C., App.), notice is hereby 

given for a meeting of RTCA Special 

Committee 217—Aeronautical Databases 

held jointly with EUROCAE WG–44— 

Aeronautical Databases. The agenda will 

include the following: 

Tuesday, December 2, 2014, Opening 

Plenary 

• Co-Chairmen’s remarks and 

introductions 

• Housekeeping 

• Approve minutes from 21th 

meeting 

• Review and approve meeting 

agenda for 22th meeting 

• Schedule and working 

arrangements for this week 

• Review of joint WG–1/WG–2 Action 

Items 

• Closing Plenary Schedule 

Tuesday Through Thursday, December 

2nd to 4th (WG1) and (WG2) Session 

• WG1—Final work and review 

before FRAC 

• WG1—Schedule for FRAC release 

and associated actions 

• WG2—Action Item Status Review 

• WG2—Review of Working Papers, 

Discussion Papers, Information Papers 

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