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U.S. Department of Transportation U.S. Department of Transportation Icon United States Department of Transportation United States Department of Transportation

Monetary Threshold Notice

Keywords
Monetary Threshold; 54; F6180.54; Threshold

The new reporting threshold for Calendar Year (CY) 2024 is $12,000.  The reporting threshold was calculated under the procedures in the Revision of Method for Calculating Monetary Threshold for Reporting Rail Equipment Accidents/Incidents, published December 9, 2020.  See 85 FR 79130.  The wage was calculated by averaging the quarterly straight time wage rates over the preceding year (July to June) for the Surface Transportation Board (STB) Group No. 300 Maintenance of Way & Structures and Group No. 400 Maintenance of Equipment & Stores employees.  The average wage increased from $33.77 to $36.66.  The equipment index was calculated by averaging the Bureau of Labor Statistics (BLS) monthly railroad equipment index over the same time period as the wage rate.  The average equipment index increased from 209.11 to 213.13, yielding a reporting threshold increase of $500 over the previous threshold. 

FRA notes rail labor and management collective bargaining in December 2022 resulted in higher wage rates reflected in the CY 2024 reporting threshold. 
If you have any questions regarding this notice, please contact:

  •     Prabhdeep S. Chawla, Industry Economist – Office of Research, Data, and Innovation at (202) 493-6298 or
  •     Senya Waas, Trial Attorney – Office of Chief Counsel, at (202) 875-4158.  
     

Last updated: Friday, December 1, 2023