14. In8*: 93-94 RESTRUCTURING OF THE RAILROAD RETIREMENT SYSTEM 193-2 HEARINGS BEFORE THE COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE 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 EMPLOYEES OF EMPLOYERS COVERED THEREUNDER, AND FOR COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE HARLEY O. STAGGERS, West Virginia, Chairman TORBERT H. MACDONALD, Massachusetts JOHN JARMAN, Oklahoma JOHN E. MOSS, California JOHN D. DINGELL, Michigan LIONEL VAN DEERLIN, California FRED B. ROONEY, Pennsylvania DAVID E. SATTERFIELD III, Virginia W. S. (BILL) STUCKEY, JR., Georgia BOB ECKHARDT, Texas RICHARDSON PREYER, North Carolina RALPH H. METCALFE, Illinois JOHN BRECKENRIDGE, Kentucky SAMUEL L. DEVINE, Ohio ANCHER NELSEN, Minnesota JAMES T. BROYHILL, North Carolina DAN KUYKENDALL, Tennessee JAMES F. HASTINGS, New York JOHN Y. MCCOLLISTER, Nebraska BARRY M. GOLDWATER, JR., California H. JOHN HEINZ III, Pennsylvania EDWARD R. MADIGAN, Illinois 151 Bayo, Francisco, Deputy Chief Actuary, Social Security Administra- tion, Department of Health, Education, and Welfare___ Benjamin, Abraham, Director of Research, Railroad Retirement Board Cardwell, James B., Commissioner, Social Security Administration, Department of Health, Education, and Welfare.. Carlucci, Hon. Frank C., Under Secretary, Department of Health, Chamberlain, Charles J., president, Brotherhood of Railroad Signal- men, and chairman, Railway Labor Executive Association_. Cowen, James L., Chairman, Railroad Retirement Board_. Davis, Edward B., counsel, Brotherhood of Railway & Airline Clerks Marquis, James E., Assistant Commissioner for Planning and Evalu- 354, 361 Morton, Alexander L., associate professor of business administration, Quarles, Wythe D., Jr., management member, Railroad Retirement Speirs, Neil L., labor member, Railroad Retirement Board--- Zimmerman, Dale, Assistant General Counsel, Railroad Retirement Chart-Operation of financial interchange, dual benefit cases_. Chart-Effects of the financial interchange between social security Additional material submitted for the record by-Continued Interstate and Foreign Commerce Committee, correspondence between Chairman Staggers and Congressman Devine, and Chairman Mills and Congressman Schneebeli re H.R. 15301__ Masten, John K., Elmhurst, N.Y., statement. 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 National Association of Retired & Veteran Railway Employees, Inc., 397 Chart 5-The effect of the proposed act upon the financial status of the railroad retirement system__ Letter dated August 9, 1974, from Mr. Dempsey to Chairman Stag- Niessen, Abraham M., former Chief Actuary, Railroad Retirement Patten, Hon. Edward J., a Representative in Congress from the State of New Jersey, letter dated August 12, 1974, to Chairman Railroad Retirement Board, attachments to Mr. Cowen's prepared 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 353 398 Exhibit 3--Discussions of questions pertaining to the recom- dations of the Commission on Railroad Retirement--- Exhibit 5-Compounding effect in benefits of percentage in- creases in the benefit formula and increases in wage levels__ Exhibit 6-Comparison of railroad retirement and social secu- |