Amending the Railroad Retirement Act of 1937 |
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Page 17
... result after application of an exact 10 - percent increase in the computation factors . 2. No change is proposed to be made by the bill with respect to that provision of the minimum annuity formula which , in certain cases , now fixes ...
... result after application of an exact 10 - percent increase in the computation factors . 2. No change is proposed to be made by the bill with respect to that provision of the minimum annuity formula which , in certain cases , now fixes ...
Page 21
... result in considerable additional dis- bursements in the immediate future , but these would later be largely offset by reductions in benefits payable after age 65 . From an actuarial point of view , only the additional AMENDING THE ...
... result in considerable additional dis- bursements in the immediate future , but these would later be largely offset by reductions in benefits payable after age 65 . From an actuarial point of view , only the additional AMENDING THE ...
Page 26
... result from the increase in the qualifying earnings requirement to $ 500 . According to the latest estimates that ... results in an average annual benefit cost for the future , if the bill should be enacted , of $ 234 million , of which ...
... result from the increase in the qualifying earnings requirement to $ 500 . According to the latest estimates that ... results in an average annual benefit cost for the future , if the bill should be enacted , of $ 234 million , of which ...
Page 27
... result will place the program on an actuarially sound basis . STATEMENT OF MR . HARPER The provisions of the bill before the committee were the subject of numerous conferences among representatives of the standard railway labor ...
... result will place the program on an actuarially sound basis . STATEMENT OF MR . HARPER The provisions of the bill before the committee were the subject of numerous conferences among representatives of the standard railway labor ...
Page 31
... results in a lower annuity would be eliminated . The Board would be required to recertify all annuities and pensions ... result will put the system back on a financially sound basis , and the system should be kept and maintained on a ...
... results in a lower annuity would be eliminated . The Board would be required to recertify all annuities and pensions ... result will put the system back on a financially sound basis , and the system should be kept and maintained on a ...
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Common terms and phrases
Act is amended actuarial additional agreement amount annuities average base basis beneficiaries benefit rate BEVAN bill Brotherhood CALHOUN capital carriers Chairman chart class I railroads committee compensation Congress cost days of unemployment debt disability earnings effect enacted equipment estimated figures financing fund gross HABERMEYER HEALY income increase Interstate Commerce Commission legislation maximum ment million month monthly OASI OLIVER operating paid payments payroll taxes Pennsylvania Railroad percent of payroll persons present law proposed qualified rail railroad employees railroad industry Railroad Retirement Act Railroad Retirement Board railroad retirement system Railroad Retirement Tax Railroad Unemployment Insurance Railway Labor Act Railway Labor Executives receive respect revenues SCHOENE Senator ALLOTT Senator COOPER Senator MORSE Senator THURMOND seniority sickness benefits Social Security Act statement strike subcommittee survivor tax rate tion unem unemployed unemployment benefits Unemployment Insurance Act Union wage workers
Popular passages
Page 556 - (b) At the request and direction of the Board, it shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the account as, in the judgment of the Board, is not immediately required for the payment of annuities, pensions, and death benefits in accordance with the provisions of this
Page 600 - are not immediately required for the payment of annuities, pensions, and death benefits in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. The Secretary
Page 613 - which would place the Federal oldage and survivors insurance trust fund in the same position in which it would have been if service as an employee after December 31, 1936, had been included in the term "employment" as defined in the Social Security Act and in the Federal Insurance Contributions Act.
Page 557 - the provisions of this Act and the Railroad Retirement Act of 1935 in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States * * *.
Page 557 - Provided, That such total amount shall be available until expended for making payments required under said retirement acts, and the amount not required for current payments shall be invested by the Secretary of the Treasury in accordance with the provisions of said Railroad Retirement Act of June 24, 1937.
Page 144 - the seniority of the person to whom such benefit is paid is — 1 to 5 years 5 to 10 years 10 to 15 years 15 to 20 years 20 to 25 years 25 years and over. The credit units canceled for such benefit shall be— 1.00 1.11 1.25 1.43 1.67 2.00 2.50
Page 557 - At the request and direction of the Board, it shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the account as, in the judgment of the Board, is not immediately required for the payment of annuities, pensions, and death benefits in accordance with the provisions of this
Page 596 - at the average rate at the end of the calendar month next preceding the date of issue, borne by all marketable interest-bearing obligations of the United States then forming part of the public debt that are not due or
Page 358 - Brotherhood Railway Carmen of America ; Brotherhood of Railroad Signalmen of America; Brotherhood of Railway and Steamship Clerks, Freight Handlers, Express and Station Employees; Brotherhood of Railroad Trainmen; Brotherhood of Sleeping Car Porters; Hotel and Restaurant Employees and Bartenders International Union; International Association of Machinists; International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers; International Brotherhood of
Page 557 - There is hereby created an account in the Treasury of the United States to he known as the Railroad Retirement Account. There is hereby authorized to be appropriated to the account for each fiscal year, beginning with the fiscal year ending June 30, 1937, as an annual premium an