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B-114817 1 (1978-12-28)

handle is hein.gao/gaobabmlw0001 and id is 1 raw text is: 7 ;~? /GL (3 MOERo GENERAL OPP THE UNITED STATES WASHINGTON. O.C. 045 le the Geno.I. Acc)v- ' ,iOifc approval bR!STRCTED . Not to be releaved outside the Genaftl B-l4 817contn excent on t-v , f peWlM P.RP.11978 The Honorable Fred B. Rooney Chairman, Subcommittee on RELEASE Transportation and Commerce Committee on Interstate and Foreign Commerce House of Representatives 5b-' Dear Mr. Chairman: As requested by your office on April 10, 1978, enclosed are our comments on 10 bills--H.R. 1141, 2720, 3581, 4291, 4302, 4553, 4584, 6929, 7390, and 9604--introduced during the 95th Congress to amend the Act of A 247 (45 U.S.C. 231). As agreed, M considered the impact - he bills, or similar future bills, would have on benefi- ciary groups and the Railroad Retirement Account. z_ ' 17i'10 bills would increase benefit payments. Financing these increased benefits, although not addressed by the bills, would presumably come from the Railroad Retirement Account or general revenue appropriations. Your office previously asked the Railroad Retirement Board to report on the potential effects of the 10 bills. Board reports on bills H.R. 1141 and 4302 have been sent to the Office of Management and Budget. Reports on bills H.R. 2720 and 4584 have been drafted but are awaiting review by the Board m ibers. Reports on the remaining six bills are being drafted by Board personnel. Board officials attributed the delay in completing the reports--most of the reports were requested in spring of 1977--to past vacancies on the Board, which reviews and comments on the reports before they are released. They also cited heavy litigation and correspondence workloads caused by the Railroad Retirement Act of 1974 as reasons for not responding promptly. FINANCIAL STABILITY OF THE RAILROAD RETIREMENT ACCOUNT Even if the bills are not enacted, the long-term financial stability of the Railroad Retirement Account is HRD-79-23 (105058) (,A0 11 4 00 3 log 134 D A6(fr I 0

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