§231f–1 — Title 45 Railroads | U.S. Code

Summary

As part of the annual report required by section 231u(a), the Railroad Retirement Board must send Congress an actuarial report showing how the railroad retirement system would do under different economic and employment scenarios and must offer financing recommendations. The report must recommend any changes to the tax rates in Internal Revenue Code sections 3201(b), 3211(a)(2), and 3221(b), and, if the Railroad Retirement Account has enough reserves, say whether tax rates should be lowered or whether some of the tax in section 3221(b) should be shifted to the Railroad Unemployment Insurance Account to help pay back its debt to the Railroad Retirement Account.

Title 45, §231f–1

Railroads — Source: USLM XML via OLRC

As part of the annual report required under section 231u(a) of this title, the Railroad Retirement Board shall submit to the Congress a report on the actuarial status of the railroad retirement system under various economic and employment assumptions. Such report shall include any recommendation for financing changes which might be advisable, including—

(1)any adjustment the Railroad Retirement Board recommends regarding the rates of taxes imposed by section 3201(b), 3211(a)(2), and 3221(b) of the Internal Revenue Code of 1986 [26 U.S.C. 3201(b), 3211(a)(2), 3221(b)], and

(2)if there are sufficient reserves in the Railroad Retirement Account, whether—

(A)the rates of such taxes should be reduced, or

(B)any part of the tax imposed by section 3221(b) of such Code should be diverted to the Railroad Unemployment Insurance Account to aid in the repayment of its debt to the Railroad Retirement Account.

Notes & Related Subsidiaries

Editorial Notes

Codification Section was enacted as part of the Railroad Retirement Solvency Act of 1983, and not as part of the Railroad Retirement Act of 1974 which comprises this subchapter.

Amendments

1995—Pub. L. 104–66 which directed the amendment of this section by substituting “As part of the annual report required under section 231u(a) of this title” for “On or before July 1, 1985, and each calendar year thereafter”, was executed by making the substitution for “On or before July 1 of 1985, and of each calendar year thereafter”, to reflect the probable intent of Congress. 1986—Par. (1). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”.

§231f–1 Annual actuarial report

Summary

Title 45, §231f–1

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata