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Principal provisions and level costs of bills to amend the Railroad Retirement,

Railroad Retirement Taw, and Railroad Unemployment Insurance Acts pending before the House of Representatives, 85th Cong., as of Mar. 5, 1957Continued

Estimated additional level cost 1

Bill

Principal provisions

Percent Millions

per year payroll

or

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H. R. 3855, Mr. O'Konski... Increases retirement and survivor benefits computed

under the railroad retirement formulas by 10 per-
cent. Does not increase the maximum on spouses'
annuities, the amount of the social security mini-

mum or the monthly compensation" minimum. H. R. 3974, by Mr. Dorn of Identical to H. R. 880.

South Carolina.
H. R. 4101, by Mr. Harris.. Combines the provisions of H. R. 4353 and H. R.

3665.
H. R. 4102, by Mr. Wolver- Identical to H. R. 4101.

ton.
H. R. 4187, by Mr. Burdick... Social security minimum amounts would be calcu-

lated on compensation alone, and benefits payable
directly by social security would be disregarded in
their computations. Some benefits would be in-

creased while others would be decreased.
H. R. 4194, by Mr. Davis of (a) Repeals the dual-benefit restriction on spouses'
Georgia.

annuities.
(6) Allows survivor benefits under both the Rail-

road Retirement and Social Security Acts on

the basis of the same employee's earnings. H. R. 4195, by Mr. Davis of Allows employees age 50 with 10 but less than 20 Georgia.

years of service to qualify for an occupational dis

ability annuity. H. R. 4312, by Mr. Vursell.... Identical to H. Ř. 880. H. R. 4353, by M. Harris.. 1. Railroad retirement system:

(a) Increases retirement and survivor bene

fits by approximately 10 percent includ-
ing social security minimum amounts
and the maximum on spouses' an-

nuities.
(6) Increases limit on monthly compensation

to $400.
(c) Provides insurance lump-sum with re-

spect to all insured deaths.
(d) Liberalizes the disability work clause,

provides reduced annuities to women
employees and wives at age 62, and
increases the factor for the residual

benefit.
e) Increases the combined rate of retirement

taxes by 242 percentage points and
provides additional taxes after 1969 at a
combined rate equal to the excess of the
then effective social security rates over
5%2 percent.
Effect of amendments:

Additional level cost 3.

Additional level revenue 3..
Level costs of system as would be
amended by bill:3

Net level cost 4

Level future taxes......
2. Railroad unemployment insurance system:

(a) Increases benefit schedule for unemploy.

_ment benefits.
(6) Extends - benefit duration for employees

with 5 or more years of service under

specified conditions.
(C) Sundays and holidays to be treated as

other days for benefit purposes.
(d) Minimum qualifying compensation in

the base year increased to $500.
e) Increases compensation base for both

benefit and tax purposes to $400 a

month..
6) Revises tax schedule with a maximum

rate of 4 percent.

Net level cost of program 3

Maximum tax rate 3.. See footnotes at end of table.

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Principal provisions and level costs of bills to amend the Railroad Retirement,

Railroad Retirement Tax, and Railroad Unemployment Insurance Aots pending before the House of Representatives, 85th Cong., as of Mar. 5, 1957Continued

Estimated addi. tional level cost 1

Bill

Principal provisions

Percent

of payroll

Millions per year

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H. R. 4354 by Mr. Wolverton.) Identical to H. R. 4353. ;**
H. R. 4523 by Mr. Poff...---- Identical to H. R. 3118.

I. R. 4530 by Mr. Van Zandt. Identical to H. R. 4353.1
H. R. 4531 by Mr. Van Zandt. Identical to H, R. 3665.
H. R. 4620 by Mr. Tollefson. Identical to H. R. 4353.

R. 4676 by Mr. Byrd... Identical to H. R. 880.
H. R. 4677 by Mr. Byrd.. Identical to H. R. 3855..
H. R. 4760 by Mr. Cole..---

Grants completely insured status to individuals

whose annuities began to accrue in 1948.
H. R. 4817 by Mr. Perkins.... Identical to H. R. 4353...
H. R. 4914 by Mr. George. Identical to H. R. 4353.
H. R. 4926 by Mr. Loser... Identical to H. R. 4353..
H. R. 5022 by Mr. Hyde... (a) Full retirement annuities to individuals with 40

years of service regardless of age.
b) Average prior service compensation to be based

on either the 1924-31 base period or 1940-47
earnings, whichever of the 2 would give a

higher average.
H. R. 5057 by Mr. Rhodes of Identical to H. R. 4353.

Pennsylvania.
H. R. 5255 by Mr. Withrow. Identical to H. R. 4353.
H. R. 5338 by Mr. Teller...-- Identical to H. R. 4353.

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1 Unless indicated otherwise, cost figures relate to a payroll with a $350 limit on monthly compensation. 2 Board objects to bill for reasons other than additional costs. 3 Relates to a payroll with a $400 limit on monthly compensation. 4 After allowing for funds on hand and estimated gains from financial interchange.

Source: Office of Chief Actuary, Office of Director of Research, U. S. Railroad Retirement Board, Mar. -5, 1957.

The CHAIRMAX. I would suggest, Mr. Clerk, that a copy be made available to each member, if they do not have it, because it will be helpful during the course of the hearings to refer to it.

I have additional information here which I think will be helpful that will be included in the record at this point without objection.

(The matter referred to is as follows:)

Comparison of benefit provisions and average benefits awarded and being paid in January 1957 under the Railroad Retirement Act

and the Social Security Act

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Age 65 and 10 years of service; age 60 to 64 and 30 years of service

(male employees receive reduced benefits).
$128.--
$116.----
$45.50.--.
$184.30...

Age 65, or age 62 on a reduced basis for women, and fully insured.

(Benefits for women at age 62 are effective November 1956.).
$68.
$63.
$30.
$108.50.
$108.50.
$108.50.

5 Disability
Eligibility requirements..

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Occupational disability: Current connection and age 60 with 10 years'

serviče, or any age with 20 years' service.
Total disability: Any age, 10 years' service.
$103.-----
$104.
$45.50....
$184.30---

Total disability: Age 50 to 64, fully and currently insóred, and 20

quarters of coverage in last 40 quarters preceding disability.

(Benefits begin July 1957.)
None.
None.
$30.
$108.50.

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Average benefit awarded...
Average benefit being paid..
Present minimum 1.-
Present maximum 1.
Future maximum: 1

January 1967...-
· January 1977...

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$108.50.
$108.50.

Spouse
Eligibility requirements...

Age 65, or has entitled child in her care: employee age 65 entitled to

retirement benefit.

Age 65, or age 62 on reduced basis, or has entitled child in her care:

employee entitled to old-age benefit. (Benefits at age 62 are effec-
tive November 1956.)

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Under 18, or became totally disabled before 18, unmarried: employee

entitled to old-age benefit. (Disabled child's benefits begin

January 1957.) $23. $21.

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Average benefit awarded...
Average benefit being paid..

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MONTHLY SURVIVOR BENEFITS
(NOTE.—Minimum and maximum amounts for railroad retirement benefits shown below are calculated under the Social Security minimum and maximum provisions of the

Railroad Retirement Act.)

Age 60, unremarried: employee with 10 years service and completely

insured.

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Age 62 (65 for widower), unremarried: employee fully insured.
$54.
$50.
$30.
$81.40.

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$53.
$30.
$81.40..

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Widow (or dependent widower)
Eligibility requirements...-
Average benefit awarded...-
Average benefit being paid..
Present minimum....
Present maximum.---
Future maximum:

January 1967.
January 1977.--

Widowed mother
Eligibility requirements.---
Average benefit awarded..
Average benefit being paid...
Present minimum..
Present maximum...
Future maximum:

January 1967...
January 1977..
See footnotes at end of table.

$81.40.
$81.40.

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Under age 60, entitled child in her care, unremarried: employee with

10 years' service and completely, or partially, insured." $78.... $65.$22.50. $81.40.... $81.40.-----$85.18....

Under age 62, entitled child in her care, unremarried: employee fully

or currently insured.
$56.
$47.
$22.50
$81.40.
$81.40.
$81.40.

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Comparison of benefit provisions and average benefits awarded and being paid in January 1957 ander the Railroad Retirement Act

and the Social Security Act_Continued

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Eligibility requirements.
Average benefit awarded...
Average benefit being paid..
Present minimum..
Present maximum......
Future maximum:

January 1967..-..
January 1977....

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Under 18, or became totally disabled before 18: employee with 10 | Under 18, or became totally disabled before 18: employee fully or years' service and completely, or partially, insured.

currently insured.
$51.------

$39.
$30.-----

$30.
$81.40.

$81.40.
$81.40.

$81.40. $81.40......

$81.40.

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Parent
Eligibility requirements...

Age 60, unremarried, dependent, no other survivor eligible for monthly benefits: employee with 10 years' service and completely insured.

Age 65 (62 for women), unremarried, dependent, no other survivor

eligible for monthly benefits: employee fully insured.

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