KEEPING THE RAILROAD RETIREMENT PROGRAM ON TRACK--GOVERNMENT AND RAILROADS SHOULD CLARIFY ROLES AND RESPONSIBILITIES

The railroad retirement program has evolved from an industry-funded plan for retired workers to one which contains both social security and private pension elements. Funds to finance these elements consist of taxes paid by railroad workers and employers, transfers from social security trust funds, and general revenue appropriations from the Federal Government. The Railroad Retirement Board predicts that it may not be able to pay total benefits by 1982. To ensure that railroad beneficiaries will receive, at least, the social security portion of the retirement benefits, the Congress should require that funds for that portion be used for that purpose only and that railroad employees and employers pay taxes for those benefits on the same basis as employers and employees under social security. To help ensure that total benefits will be paid, the Congress should decide to what extent the Federal Government will fund windfall benefits for dual beneficiaries. The Congress also should consider whether certain groups, such as railroad beneficiaries' remarried widows and divorced spouses, which are not covered under railroad retirement, should be.

Media Info

  • Features: Appendices; Tables;
  • Pagination: 41 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00334298
  • Record Type: Publication
  • Report/Paper Numbers: HRD-81-27
  • Files: TRIS
  • Created Date: Jun 12 1981 12:00AM