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14. Inft:93-94 RESTRUCTURING OF THE RAILROAD

RETIREMENT SYSTEM

93-2

HEARINGS

BEFORE THE

COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE

HOUSE OF REPRESENTATIVES

NINETY-THIRD CONGRESS

SECOND SESSION

ON

H.R. 15301
A BILL TO AMEND THE RAILROAD RETIREMENT ACT OF
1937 TO REVISE THE RETIREMENT SYSTEM FOR EMPLOY-
EES OF EMPLOYERS COVERED THEREUNDER, AND FOR

OTHER PURPOSES

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COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE

HARLEY O. STAGGERS, West Virginia, Chairman TORBERT H. MACDONALD, Massachusetts SAMUEL L. DEVINE, Ohio JOHN JARMAN, Oklahoma

ANCHER NELSEN, Minnesota JOHN E. MOSS, California

JAMES T. BROYHILL, North Carolina JOHN D. DINGELL, Michigan

TIM-LEE CARTER, Kentucky PAUL G. ROGERS, Florida

CLARENCE J. BROWN, Ohio LIONEL VAN DEERLIN, California

DAN KUYKENDALL, Tennessee J. J. PICKLE, Texas

JOE SKUBITZ, Kansas FRED B. ROONEY, Pennsylvania

JAMES F. HASTINGS, New York JOHN M. MURPHY, New York

JAMES M. COLLINS, Texas
DAVID E. SATTERFIELD III, Virginia LOUIS FREY, JR., Florida
BROCK ADAMS, Washington

JOHN WARE, Pennsylvania
W. S. (BILL) STUCKEY, JR., Georgia JOHN Y. MCCOLLISTER, Nebraska
PETER N. KYROS, Maine

RICHARD G. SHOUP, Montana
BOB ECKHARDT, Texas

BARRY M. GOLDWATER, JR., California RICHARDSON PREYER, North Carolina NORMAN F. LENT, New York BERTRAM L. PODELL, New York

H. JOHN HEINZ III, Pennsylvania HENRY HELSTOSKI, New Jersey

WILLIAM H. HUDNUT III, Indiana JAMES W. SYMINGTON, Missouri

SAMUEL H. YOUNG, Illinois
CHARLES J. CARNEY, Ohio

EDWARD R. MADIGAN, Illinois
RALPH H. METCALFE, Illinois
GOODLOE E. BYRON, Maryland
WILLIAM R. ROY, Kansas
JOHN BRECKENRIDGE, Kentucky
THOMAS A. LUKEN, Ohio

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CONTENTS

Hearings held on-

Page

July 25, 1974_-

1

July 30, 1974..

207

July 31, 1974_

247

August 1, 1974..

361

Text of H.R. 15301.

4

Report of -

Office of Management and Budget, Executive Office of the President--- 158

Railroad Retirement Board -

151

Statement of-

Ailes, Stephen, president and chief executive officer, Association of

American Railroads..

164

Bayo, Francisco, Deputy Chief Actuary, Social Security Administra-

tion, Department of Health, Education, and Welfare ---

354, 361

Benjamin, Abraham, Director of Research, Railroad Retirement Board

Cardwell, James B., Commissioner, Social Security Administration,

Department of Health, Education, and Welfare..

354, 361

Carlucci, Hon. Frank C., Under Secretary, Department of Health,

Education, and Welfare -

354

Chamberlain, Charles J., president, Brotherhood of Railroad Signal-

men, and chairman, Railway Labor Executive Association --

164

Cowen, James L., Chairman, Railroad Retirement Board..-.

247

Davis, Edward B., counsel, Brotherhood of Railway & Airline Clerks

(AFL-CIO)

207

Dempsey, William

chairman, National Railway Labor

Conference

164, 207, 352

Dennis, C. L., international president, Brotherhood of Railway &

Airline Clerks (AFL-CIO)

164, 207, 216

Marquis, James È., Assistant Commissioner for Planning and Evalu-

ation, Social Security Administration, Department of Health, Edu-

cation, and Welfare..

354, 361

Morton, Alexander L., associate professor of business administration,
Harvard University

393
Quarles, Wythe D., Jr., management member, Railroad Retirement
Board

247, 331
Speirs, Neil L., labor member, Railroad Retirement Board - 247, 331
Zimmerman, Dale, Assistant General Counsel, Railroad Retirement
Board

247
Additional material submitted for the record by-
Brotherhood of Railway & Airline Clerks (AFL-CIO):
Attachments to Mr. Dennis' prepared statement :

Exhibit 1-Maximum employee contributions to railroad re-
tirement and social security-----

222
Exhibit 2-Labor news conference, news release, Wednes-

day, July 24, 1974_

Coverage of South Shore Railroad under the Railroad Retirement

Act

235

Health, Education, and Welfare Department, Social Security Admin-

istration :

Chart-Operation of financial interchange, dual benefit cases. 371

Chart-Effects of the financial interchange between social security

and the railroad retirement system.----

371

Reason for $8.4 billion transfer from social security trust funds
to railroad retirement account --

364

223

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Additional material submitted for the record by—Continued

Interstate and Foreign Commerce Committee, correspondence between

Chairman Staggers and Congressman Devine, and Chairman Mills Page

and Congressman Schneebeli re H.R. 15301_

2

Masten, John K., Elmhurst, N.Y., statement-

401

Morton, Alexander L., associate professor of business administration,

Harvard University, letter dated August 6, 1974, to Congressman

Breckinridge re list of some of the restrictive work practices in

the railroad industry---

395

National Association of Retired & Veteran Railway Employees, Inc.,

Floyd L. Elliott, grand president, letter dated July 29, 1974, to
Chairman Staggers_-

397

National Railroad Pension Forum, Inc., Robert B. Byrnes, president,

statement

391

National Railway Labor Conference:

Attachments to Mr. Dempsey's prepared statement:

Chart 1-Illustration of windfall dual benefits.

176

Chart 2—Financing dual benefits_-

177

Chart 3—Cost impact of dual benefits---

178

Chart 4—Illustration of benefit components under proposed Rail-

road Retirement Act----

179

Chart 5-The effect of the proposed act upon th financial status

of the railroad retirement system.-

180

Letter dated August 9, 1974, from Mr. Dempsey to Chairman Stag-

gers re what happens with respect to the hospital, medical, and
life insurance benefits provided by an insurance policy contract
covering employees of the railroads who are represented by
labor organizations----

353
Niessen, Abraham M., former Chief Actuary, Railroad Retirement
Board, statement-

398

Patten, Hon. Edward J., a Representative in Congress from the

State of New Jersey, letter dated August 12, 1974, to Chairman

Staggers

397

Railroad Retirement Board, attachments to Mr. Cowen's prepared

statement :

Exhibit 1-Procedures used in making the financial inter-

change determinations—appendix A to the Report on the

12th Actuarial Valuation of the Railroad Retirement

System

265

Exhibit 2—Legislative history of the provisions of the RRA,

1935–73

270

Exhibit 3--Discussions of questions pertaining to the recom-

dations of the Commission on Railroad Retirement.---

294

Exhibit 4The problem of duel benefits for the railroad

retirement system---

310

Exhibit 5—Compounding effect in benefits of percentage in-

creases in the benefit formula and increases in wage levels. 321

Exhibit 6-Comparison of railroad retirement and social secu-

rity benefit provisions.----

324

Wallis, W. Allen, chancellor, University of Rochester, letter dated August

26, 1974, to Chairman Staggers.

397

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