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RESTRUCTURING OF THE RAILROAD RETIREMENT

SYSTEM, 1974

HEARINGS

BEFORE THE

SUBCOMMITTEE ON RAILROAD RETIREMENT
US Coniros, OF THE
" Sertate COMMITTEE ON
LABOR AND PUBLIC WELFARE.
UNITED STATES SENATE
NINETY-THIRD CONGRESS

SECOND SESSION

ON

S. 3612

TO AMEND THE RAILROAD RETIREMENT ACT OF 1937 TO
REVISE THE RETIREMENT SYSTEM FOR EMPLOYEES OF
EMPLOYERS COVERED THEREUNDER, AND FOR OTHER

PURPOSES

AND RELATED BILLS

PART 2

APPENDIX

SEPTEMBER 5 AND 10, 1974

Printed for the use of the Committee on Labor and Public Welfare

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON : 1974

40-239 O

CONTENTS

Page

2

Text of:

S. 3612.---
Public Law 93-69------
S. 2450 ---------------------
S. 3522---------

Departmental report by the Railroad Retirement Board ---

149 156 158 160

CHRONOLOGICAL LIST OF WITNESSES

THURSDAY, SEPTEMBER 5, 1974

Cowen, James L., Chairman, Railroad Retirement Board, accompanied by

Neil P. Speirs, labor member, Railroad Retirement Board; Dale Zimmerman, assistant general counsel ; Joseph J. Mele, assistant to the man

agement member; and Abraham Benjamin, director of research.-------Spiers, Neil P., member, Railroad Retirement Board, representing railroad labor and management.-

167

------

270

291

TUESDAY, SEPTEMBER 10, 1974
Dennis, C. L., international president, Brotherhood of Railway and Air-

line Clerks, in behalf of the Congress of Railway Unions and Railway
Labor Executives Association, accompanied by Ned Davis, counsel,
Miami, Fla.; Jim Kennedy, general legislative counsel, Washington,

D.C
Dempsey, William H., chairman, National Railway Labor Conference, ac-

companied by Stephen Ailes, president, Association of American Rail-
roads; and H. E. Greer, vice chairman, and W. L. Burner, Jr., director
of research, National Railway Labor Conference---
O'Neill, Paul H., Associate Director for Human and Community Affairs,

Office of Management and Budget-------
DePodwin, Horace J., dean, Graduate School of Business, Rutgers Univer-

sity, accompanied by James Laurie, an independent consultant, formerly
a railroad consultant on matters of railroad legislation policy-
Hacking, James M., legislative representative of the Retired Teachers As-

sociation and American Association of Retired persons_

------

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STATEMENTS

165

167

184 263

--

Biden, Hon. Joseph R., Jr., a U.S. Senator from the State of Delaware-
Cowen, James L., chairman, Railroad Retirement Board, accompanied by

Neil P. Spiers, labor member, Railroad Retirement Board ; Dale Zimmer-
man, assistant general counsel ; Joseph J. Mele, assistant to the manage-
ment member; and Abraham Benjamin, director of research------------

Prepared statement with appendix---

Prepared statement on S. 2450 and S. 3522
De Podwin, Horace J., dean, Graduate School of Business, Rutgers Univer-

sity, accompanied by James Laurie, an independent consultant, formerly
a railroad consultant on matters of railroad legislation policy-----------

Prepared statement.-------
Dempsey, William H., chairman, National Railway Labor Conference, ac-

companied by Stephen Ailes, president, Association of American Rail-
roads; and H. E. Greer, vice chairman, and W. L. Burner, Jr., director
of research, National Railway Labor Conference ---

Prepared statement

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Dennis, C. L., international president, Brotherhood of Railway and Air

line 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 As-
sociation and the American Association of Retired Persons.-----

Prepared statement-------
Masten, John K., senior citizen (retired)-------
Morton, Alexander L--------
Niessen, Abraham M., former chief actuary, Railroad Retirement Board.--
O'Neill, Paul H., Associate Director for Human and Community Affairs,
Office of Management and Budget ---

Prepared and supplemental statement.------
Speirs, Neil P., member, Railroad Retirement Board, representing railroad
labor and management------
Prepared statement of Mr. Speirs and Mr. Quarels ------

ADDITIONAL INFORMATION
Chart:

How Coupling of Increases in Benefit Levels for Those on the Benefit

Rolls to the Benefit Formula Itself, Gives Double Advantage to

Future retirees.-
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., Septem-
ber 6, 1974.----
Jones, A. F., September 7, 1974.--

August 8, 1974.
Table:

Summary of Costs and Savings from Proposed Railroad Retirement
Amendments ---

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APPENDIX
Text of:

House Report 93–1345 to accompany H.R. 15301 -
H.R. 15301, as referred to Committee on Labor and Public Welfare--
Senate Report 93-1163 to accompany H.R. 15301
H.R. 15301, as reported ----
House Document 93-371 (veto message) -------
Public Law 93–445, October 16, 1974.---

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