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Principal provisions and level costs of bills to amend the Railroad Retirement, Railroad Retirement Tax, and Railroad Unemployment Insurance Acts pending before the House of Representatives, 85th Cong., as of Mar. 5, 1957-Continued

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

H. R. 3974, by Mr. Dorn of
South Carolina.

H. R. 4101, by Mr. Harris....

H. R. 4102, by Mr. Wolverton.

H. R. 4187, by Mr. Burdick..

H. R. 4194, by Mr. Davis of
Georgia.

H. R. 4195, by Mr. Davis of
Georgia.

H. R. 4312, by Mr. Vursell...
H. R. 4353, by M. Harris..

under the railroad retirement formulas by 10 percent. Does not increase the maximum on spouses' annuities, the amount of the social security minimum or the monthly compensation" minimum. Identical to H. R. 880.

Combines the provisions of H. R. 4353 and H. R.
3665.

Identical to H. R. 4101.

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.
(a) Repeals the dual-benefit restriction on spouses'
annuities.

(b) Allows survivor benefits under both the Rail-
road Retirement and Social Security Acts on
the basis of the same employee's earnings.
Allows employees age 50 with 10 but less than 20
years of service to qualify for an occupational dis-
ability annuity.

Identical to H. R. 880.

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.

(b) 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 21⁄2 percentage points and
provides additional taxes after 1969 at a
combined rate equal to the excess of the
then effective social security rates over
52 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.

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See footnotes at end of table.

Principal provisions and level costs of bills to amend the Railroad Retirement, Railroad Retirement Tax, and Railroad Unemployment Insurance Acts pending before the House of Representatives, 85th C Cong., as of Mar. 5, 1957—Continued

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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.

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 CHAIRMAN. 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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Occupational disability: Current connection and age 60 with 10 years' Total disability: Age 50 to 64, fully and currently insured, and 20 service, or any age with 20 years' service.

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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 effective 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.)

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[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.]

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Under age 60, entitled child in her care, unremarried: employee with Under age 62, entitled child in her care, unremarried: employee fully 10 years' service and completely, or partially, insured.

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See footnotes at end of table.

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

Type of benefit

and the Social Security Act-Continued

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Average benefit awarded.

Average benefit being paid.

Present minimum.

Present maximum..

Future maximum:

Average benefit awarded.

Average benefit being paid.

Present minimum.

Present maximum.

Future maximum:

Average benefit awarded.

Average benefit being paid.

Present minimum.

Present maximum.

Future maximum: January 1967. January 1977.

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