Railroad Retirement and Survivors' Improvement Act of 2001

Fact Sheet API

Bill Number

HR 10

Introduced

Mar 14, 2001

Latest Action

Became Public Law No: 107-90.

Sponsor

Cosponsors

Topics

Accidents Accounting Administrative procedure Annuities Auditing Business income tax Churches Civil actions and liability Civil Service pensions Clergy Commerce Conferences Congress Congressional reporting requirements Cost of living adjustments Deficit reduction Defined benefit pension plans Defined contribution plans Department of Labor Department of the Treasury Disasters Dismissal of employees Dividends Divorce Divorcees Economics and Public Finance Electronic data interchange Emergency Management Employee benefit plans Employee ownership Excise tax Executive compensation Executives Families Federal budgets Federal employees Finance and Financial Sector Financial planning Financial services Financial statements Fines (Penalties) Fringe benefits Gifts Government Operations and Politics Government paperwork Government trust funds Governmental investigations Health Household workers Income tax Indexing (Economic policy) Individual retirement accounts Injunctions Insurance premiums Interest Internet Investment of public funds Labor and Employment Labor contracts Law Life expectancy Limitation of actions Loans Local employees Losses Married people Old age, survivors and disability insurance Partnerships Pension funds Pension portability Pension trust guaranty insurance Personal income tax Presidential appointments Profit sharing Railroad employees Railroad retirement plans Religion Retirement age Saving and investment Science, Technology, Communications Self-employed Small business Social Welfare State employees Stocks Surety and fidelity Survivors' benefits Tax cuts Tax deductions Tax exclusion Tax penalties Tax rates Tax returns Tax-deferred compensation plans Tax-exempt organizations Taxation Transportation and Public Works Trusts and trustees User charges Valuation White House conferences Widowers Widows Withholding tax Women Women's retirement

Full Text

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Votes

Summary

Railroad Retirement and Survivors' Improvement Act of 2001 - Title I: Amendments to Railroad Retirement Act of 1974 - Amends the Railroad Retirement Act of 1974 to increase benefits to railroad employees and their beneficiaries and to revise financing of the railroad retirement system.

(Sec. 101) Provides for a guaranteed initial minimum amount for surviving spouses of deceased railroad employees. Bases such amount on the tier 1 and tier 2 benefit that would have been payable to the employee at the time of the award of the surviving spouse's annuity.

(Sec. 102) Repeals the reduction in tier 1 annuity components for employees and spouses prior to age 62, thus providing for full tier 1 annuities to employees at age 60 with 30 years of service and to spouses of employees with 30 years of service at age 60.

(Sec. 103) Reduces from ten to five years of service (after 1995) the vesting requirement for railroad retirement benefits for employees and survivors. Sets forth computation formulae for individual annuities through railroad retirement and Social Security benefit systems.

(Sec. 104) Repeals a maximum limit on annuity benefits payable to an employee and spouse under the railroad retirement system.

(Sec. 105) Establishes a Railroad Retirement Trust Fund (the Fund) and a National Railroad Retirement Investment Trust (the Trust) to manage and invest Fund assets.

(Sec. 106) Abolishes the Railroad Retirement Supplemental Annuity Account and provides for transfer of its funds to the Fund. Provides for transfer to the Fund of certain portions of the Railroad Retirement Account and of Social Security Equivalent Benefit account funds.

(Sec. 107) Transfers to the disbursing agent from the Dual Benefits Payments Account the amount necessary to make dual benefit payments.

(Sec. 108) Requires the Railroad Retirement Board (RRB) to calculate the ratio of assets to benefits to determine annual tier II tax rates for employers, employee representatives, and employees.

Title II: Amendments to the Internal Revenue Code of 1986 - Amends the Internal Revenue Code to exempt the Trust from taxation.

(Sec. 203) Repeals a supplemental annuity tax that railroad employers pay to finance a benefit for long-time rail employees.

(Sec. 204) Provides for adjustments to tier II tax rates for railroad employers, employee representatives, and employees.

Actions

Dec 21, 2001

Became Public Law No: 107-90.
Dec 21, 2001

Signed by President.
Dec 13, 2001

Presented to President.
Dec 11, 2001

Motion to reconsider laid on the table Agreed to without objection.
Dec 11, 2001

On motion that the House suspend the rules and agree to the Senate amendments Agreed to by the Yeas and Nays: (2/3 required): 369 - 33 (Roll no. 485). (consideration: CR H9160-9166, H9167-9168; text as House agreed to Senate amendment: CR H9160-9164)
Dec 11, 2001

Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendments Agreed to by the Yeas and Nays: (2/3 required): 369 - 33 (Roll no. 485).(consideration: CR H9160-9166, H9167-9168; text as House agreed to Senate amendment: CR H9160-9164)
Dec 11, 2001

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed.
Dec 11, 2001

DEBATE - The House proceeded with forty minutes of debate on the motion to suspend the rules and agree to the Senate amendments to H.R. 10.
Dec 11, 2001

Mr. Quinn moved that the House suspend the rules and agree to the Senate amendments.
Dec 5, 2001

Message on Senate action sent to the House.
Dec 5, 2001

Passed Senate with an amendment and an amendment to the Title by Yea-Nay Vote. 90 - 9. Record Vote Number: 351.
Dec 5, 2001

Passed/agreed to in Senate: Passed Senate with an amendment and an amendment to the Title by Yea-Nay Vote. 90 - 9. Record Vote Number: 351.
Dec 5, 2001

Cloture motion on the bill withdrawn by unanimous consent in Senate.
Dec 5, 2001

Considered by Senate. (consideration: CR S12390-12394)
Dec 4, 2001

Considered by Senate. (consideration: CR S12340-12344, S12350-12351, S12352-12363)
Dec 3, 2001

Considered by Senate. (consideration: CR S12306-12307)
Nov 29, 2001

Cloture motion on the bill presented in Senate.
Nov 29, 2001

Measure laid before Senate by motion.
Nov 29, 2001

Motion to proceed to consideration of measure agreed to in Senate by Voice Vote.
Nov 29, 2001

Cloture on the motion to proceed invoked in Senate by Yea-Nay Vote. 96 - 4. Record Vote Number: 343. (consideration: CR S12139)
Nov 29, 2001

Motion to proceed to measure considered in Senate. (consideration: CR S12114-12140)
Nov 28, 2001

Motion to proceed to measure considered in Senate. (consideration: CR S12065-12067, S12075-12096)
Nov 27, 2001

Cloture motion on the motion to proceed presented in Senate.
Nov 27, 2001

Motion to proceed to consideration of measure made in Senate. (consideration: CR S12036-12043)
Aug 13, 2001

See H.R. 1836 for further action.
Jun 7, 2001

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 69.
Jun 6, 2001

Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
May 3, 2001

Received in the Senate.
May 2, 2001

Motion to reconsider laid on the table Agreed to without objection.
May 2, 2001

On passage Passed by the Yeas and Nays: 407 - 24 (Roll no. 96). (text: CR H1764-1780)
May 2, 2001

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 407 - 24 (Roll no. 96).(text: CR H1764-1780)
May 2, 2001

On motion to recommit with instructions Failed by the Yeas and Nays: 153 - 276 (Roll no. 95).
May 2, 2001

The previous question on the motion to recommit with instructions was ordered without objection.
May 2, 2001

Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Sanders motion to recommit with instructions. The instructions contained in the motion direct the Committee on Education and the Workforce to report the bill back forthwith with an amendment which seeks to strike the existing section 504 and to insert a new section 504.
May 2, 2001

Mr. Sanders moved to recommit with instructions to Education and the Workforce. (consideration: CR H1822-1826; text: H1822-1825)
May 2, 2001

DEBATE - Pursuant to the provisions of H. Res. 127, the House proceeded with one hour of debate on the Neal amendment in the nature of a substitute.
May 2, 2001

DEBATE - The House proceeded with ninety minutes of debate on H.R. 10, as amended, pursuant to H. Res. 127.
May 2, 2001

Rule provides for consideration of H.R. 10 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendment recommended by the Committee on Ways and Means and the amendment recommended by the Committee on Education and the Workforce now printed in the bill, the amendment in the nature of a substitute printed in the Congressional Record and numbered 1 shall be considered as adopted. Measure will be considered read. A specified amendment is in order.
May 2, 2001

Considered under the provisions of rule H. Res. 127. (consideration: CR H1748-1827; text of measure as reported in House: CR H1748-1764)
May 2, 2001

Rule H. Res. 127 passed House.
May 1, 2001

Rules Committee Resolution H. Res. 127 Reported to House. Rule provides for consideration of H.R. 10 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendment recommended by the Committee on Ways and Means and the amendment recommended by the Committee on Education and the Workforce now printed in the bill, the amendment in the nature of a substitute printed in the Congressional Record and numbered 1 shall be considered as adopted. Measure will be considered read. A specified amendment is in order.
May 1, 2001

Placed on the Union Calendar, Calendar No. 33.
May 1, 2001

Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 107-51, Part II.
May 1, 2001

Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-51, Part I.
Apr 26, 2001

Ordered to be Reported (Amended) by Voice Vote.
Apr 26, 2001

Subcommittee on Employer-Employee Relations Discharged.
Apr 26, 2001

Committee Consideration and Mark-up Session Held.
Apr 25, 2001

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 6.
Apr 25, 2001

Committee Consideration and Mark-up Session Held.
Mar 29, 2001

Referred to the Subcommittee on Employer-Employee Relations.
Mar 14, 2001

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 14, 2001

Introduced in House

Amendments

Related Bills