Cowen, James L., Chairman, Railroad Retirement Board, accompanied by TUESDAY, SEPTEMBER 10, 1974 Dennis, C. L., international president, Brotherhood of Railway and Air- Dempsey, William H., chairman, National Railway Labor Conference, ac- Page 2 149 156 158 160 167 270 291 308 O'Neill, Paul H., Associate Director for Human and Community Affairs, 370 DePodwin, Horace J., dean, Graduate School of Business, Rutgers Univer- 387 431 STATEMENTS Biden, Hon. Joseph R., Jr., a U.S. Senator from the State of Delaware__ 165 167 184 Prepared statement on S. 2450 and S. 3522__ 263 DePodwin, Horace J., dean, Graduate School of Business, Rutgers Univer- 387 394 Dempsey, William H., chairman, National Railway Labor Conference, ac- Prepared statement.... 308 335 Dennis, C. L., international president, Brotherhood of Railway and Airline Clerks, in behalf of the Congress of Railway Unions and Railway Labor Executive, Miami, Fla.; Jim Kennedy, general legislative counsel, Washington, D.C_ Prepared statement- Hacking, James M., legislative representative of the Retired Teachers Association and the American Association of Retired Persons_. Prepared statement---- Masten, John K., senior citizen (retired). Page 291 291 431 436 462 Morton, Alexander L---- 460 Niessen, Abraham M., former chief actuary, Railroad Retirement Board___ 449 370 Prepared and supplemental statement.. 378 Speirs, Neil P., member, Railroad Retirement Board, representing railroad labor and management.-. 270 Prepared statement of Mr. Speirs and Mr. Quarels. 276 ADDITIONAL INFORMATION Chart: How Coupling of Increases in Benefit Levels for Those on the Benefit 377 Communications to: Hathaway, William D., a U.S. Senator from the State of Maine, from: Elliott, Floyd L., grand resident, National Association of Retired and Veteran Railway Employees, Inc., Kissimmee, Fla., September 6, 1974____ Summary of Costs and Savings from Proposed Railroad Retirement 448 447 459 387 APPENDIX Text of: House Report 93-1345 to accompany H.R. 15301_. 471 H.R. 15301, as referred to Committee on Labor and Public Welfare__ AUGUST 29, 1974.-Committed to the Committee of the Whole House U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1974 COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE TORBERT H. MACDONALD, Massachusetts SAMUEL L. DEVINE, Ohio JOHN JARMAN, Oklahoma JOHN E. MOSS, California JOHN D. DINGELL, Michigan LIONEL VAN DEERLIN, California J. J. PICKLE, Texas FRED B. ROONEY, Pennsylvania DAVID E. SATTERFIELD III, Virginia W. 8. (BILL) STUCKEY, JR., Georgia ANCHER NELSEN, Minnesota JAMES T. BROYHILL, North Carolina JOHN Y. MCCOLLISTER, Nebraska H. JOHN HEINZ III, Pennsylvania AUGUST 29, 1974.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. STAGGERS, from the Committee on Interstate and Foreign REPORT together with MINORITY VIEWS [To accompany H.R. 15301] The Committee on Interstate and Foreign Commerce, to whom was referred the bill (H.R. 15301) to amend the Railroad Retirement Act of 1937 to revise the retirement system for employees of employers covered thereunder, and for other purposes, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. The amendment strikes out all after the enacting clause and inserts a new text which is set forth in the reported bill in italic type. The bill was ordered reported by a voice vote. PRINCIPAL PURPOSE OF THE BILL The bill provides for a complete restructuring of the Railroad Retirement Act of 1937, and will place it on a sound financial basis. Railroad Retirement benefits will hereafter consist of two components the first tier will be a benefit computed under the Social Security Act, counting all railroad employment as Social Security covered employment, and combining that service with all Social Security covered employment; and a second tier of benefits based on railroad service alone computed under the Railroad Retirement Act. This new technique of computing benefits will bring about more adequate coordination between the Railroad Retirement Act and the Social Security Act, thereby preventing future losses to the Railroad |