COMMITTEE ON LABOR AND PUBLIC WELFARE HARRISON A. WILLIAMS, JR., New Jersey, Chairman JENNINGS RANDOLPH, West Virginia ADLAI E. STEVENSON III, Illinois JACOB K. JAVITS, New York J. GLENN BEALL, JR., Maryland CONTENTS Quarles, Wythe D., management member, Railroad Retirement Board, and Neill P. Speirs, labor member, Railroad Retirement Board; accom- panied by James L. Cowen, chief actuary, and David B. Schreiber, asso- Ymtema, Theodore O., chairman, Commission on Railroad Retirement, ac- companied by Michael S. March, executive director_-_ Dennis, C. L., Commission on Railroad Retirement; accompanied by James Kennedy, legislative chairman; Ed Unger, economist, and Ned Davis, Schoene, Lester P., Congress of Railway Unions and the Railway Labor Behling, Burton N., transportation consultant, on behalf of the Association Dennis, C. L., Commission on Railroad Retirement; accompanied by James 85 Mondale, Hon. Walter F., a U.S. Senator from the State of Minnesota, pre- Quarles, Wythe D., management member, Railroad Retirement Board, and Neill P. Speirs, labor member, Railroad Retirement Board; accompanied by James L. Cowen, chief actuary, and David B. Schreiber, associate Prepared statement__ 33, 37 Schoene, Lester P., Congress of Railway Unions and the Railway Labor Executives' Association, accompanied by J. Taylor Soop, executive sec- retary, Railway Labor Executives Association; and Donald S. Beattie, Speirs, Neil P., labor member of the Railroad Retirement Board, prepared Ymtema, Theodore O., chairman, Commission on Railroad Retirement, ac- Prepared statement__ Gross receipts, gross expenditures, and status of the railroad retire- ment account assuming 20 percent benefit increase, 1970-2000----- Projected annual cash-flow deficits of railroad retirement system, Communication to: Williams, Hon. Harrison A., a U.S. Senator from the State of New Butler, R. F., Secretary, United States of America Railroad Re- Report on S. 3852, August 4, 1972_. Habermeyer, Howard W., Chairman, United States of America Appendix-The Railroad Retirement System: Its Coming Crisis-Excerpts from the Report to the President and the Congress by the Commission 46 51 14 |