Railroad Retirement: Hearing Before the Committee on Interstate and Foreign Commerce, House of Representatives, Eightieth Congress, Second Session, on H.R. 6766, a Bill to Amend the Railroad Retirement Act of 19367, as Amended, and the Railroad Unemployement Insurance Act, as Amended, and for Other Purposes. June 2, 1948Considers legislation to revise railroad retirement program benefits. |
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Page 9
Yes . Mr. HESELTON . Do you have an exact figure for any recent date ? Mr.
FORT . $ 934,000,000 on March 31 of this year . ... Mr. LEA . Have you the figures
as to how much larger ? Mr. Fort . May I ask Mr. Parmalee to answer that question
?
Yes . Mr. HESELTON . Do you have an exact figure for any recent date ? Mr.
FORT . $ 934,000,000 on March 31 of this year . ... Mr. LEA . Have you the figures
as to how much larger ? Mr. Fort . May I ask Mr. Parmalee to answer that question
?
Page 12
I mention those figures, however, to indicate that we have gone as far in the
direction of increasing benefits as we feel it is prudent to go. It may be that future
events will indicate that one could go further, but in the light of what we can see
now, ...
I mention those figures, however, to indicate that we have gone as far in the
direction of increasing benefits as we feel it is prudent to go. It may be that future
events will indicate that one could go further, but in the light of what we can see
now, ...
Page 30
It is difficult to reconcile these figures with the statements of those people who
assure us we have the finest pension plan in the world. Prompt enactment of
H. R. 6397 offers Congress the opportunity of correcting the wrong perpetrated
on ...
It is difficult to reconcile these figures with the statements of those people who
assure us we have the finest pension plan in the world. Prompt enactment of
H. R. 6397 offers Congress the opportunity of correcting the wrong perpetrated
on ...
Page 31
These are not actuarial figures. They are facts right from the Machinists Journal.
Only 52 members—one-fourth or 25 percent—were over 65; 154 members—
threefourths or 75 percent—were 65 and under; 25 members—one-eighth or 12 ...
These are not actuarial figures. They are facts right from the Machinists Journal.
Only 52 members—one-fourth or 25 percent—were over 65; 154 members—
threefourths or 75 percent—were 65 and under; 25 members—one-eighth or 12 ...
Page 33
Now, if we had a pension system that was based on 50 percent of the highest
paid salary for 5 years, you would have something that any railroad man could
figure out at home as to how much pension he got without resorting to the
Railroad ...
Now, if we had a pension system that was based on 50 percent of the highest
paid salary for 5 years, you would have something that any railroad man could
figure out at home as to how much pension he got without resorting to the
Railroad ...
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actuarial additional amended American amount annuities appear Association average basis benefits bill Brotherhood CHAIRMAN Commerce committee Congress consideration considered continue contributions cost course covered Crosser death earnings enacted equal Executives existing fact favor feel figures fund further future gentlemen give given Government HARRIs hearings hope increase industry interest introduced January KENDRICK Labor legislation less living lump-sum meet ment month monthly National Railroad Pension organization paid payments percent period present president proposed protection questions rail railroad employees Railroad Pension Forum Railroad Retirement Act Railroad Retirement Board railroad workers Railway reason receive reduced reference represent respect result retirement benefits retirement system session social security Social Security Administration Stack statement subsection survivors Thank understand unemployment insurance unit widow
Popular passages
Page 2 - II of the Social Security Act, as amended. Such election shall be legally effective according to its terms. Nothing in this section shall operate to deprive a widow, widower, or parent making such election of any insurance benefits under title II of the Social Security Act, as amended, to which such widow, widower, or parent would have been entitled had this section not been enacted. The term "benefits...
Page 6 - Association have agreed upon amendments of the Railroad Retirement Act and the Railroad Unemployment Insurance Act, and have agreed jointly to sponsor a bill proposing such amendments.
Page 7 - Both sides believe that the amendments to the Railroad Retirement Act and the Railroad Unemployment Insurance Act, which are proposed in HR 6766, when those amendments are taken together, represent an improvement in the present law.
Page 3 - As soon as practicable following the enactment of this Act, the Board shall determine and proclaim the balance to the credit of the account as of the close of business on September 30, 1947, and on or before December 31...
Page 2 - Act, as amended, such lump sum shall not be paid unless such widow, widower, or parent makes and files with the Board an irrevocable election, in such form as the Board may prescribe, to have such lump sum paid In lieu of all benefits to which such widow, widower, or parent might otherwise become entitled under this section or, pursuant to subsection (k) of this section, under title n of the Social Security Act, as amended.
Page 45 - ... subcommittee reconvened at 2 pm, upon the expiration of the recess.) Senator HATCH (chairman of the subcommittee). The subcommittee will please come to order. I have a statement prepared by Representative Kilburn of New York in behalf of the St. Lawrence seaway project, which will be inserted and made a part of the record. (The statement referred to is as follows:) STATEMENT OF HON. CLARENCE E. KILBURN, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF NEW YORK Representative KIIJUTKN.
Page 2 - ... be entitled to further benefits under title II of the Social Security Act, as amended, such lump sum shall not be paid unless such widow, widower, or parent makes and files with the Board an irrevocable election, in such form as the...
Page 19 - ... coverage under the old age and survivors insurance provisions of the Social Security Act.
Page 2 - Act are hereby amended to read as follows: (a) Every employer shall pay a contribution, with respect to having employees in his service, equal to the percentage hereinafter set forth of so much of the compensation as is not in excess of $300 for any calendar month payable by him to any employee with respect to...
Page 2 - benefits" as used in this paragraph includes all annuities payable under this Act, lump sums payable under paragraph (1) of this subsection, and insurance benefits and...
Bibliographic information
| Title | Railroad Retirement: Hearing Before the Committee on Interstate and Foreign Commerce, House of Representatives, Eightieth Congress, Second Session, on H.R. 6766, a Bill to Amend the Railroad Retirement Act of 19367, as Amended, and the Railroad Unemployement Insurance Act, as Amended, and for ... |
| Author | United States. Congress. House. Committee on Interstate and Foreign Commerce |
| Publisher | U.S. Government Printing Office, 1948 |
| Original from | the Library of Congress |
| Digitized | 12 Jan 2007 |
| Length | 59 pages |
| Export Citation | BiBTeX EndNote RefMan |