Roth Statement at Railroad Retirement Markup
WASHINGTON -- The Senate Finance Committee met today to mark up H.R. 4844, the "Railroad Retirement and Survivors' Improvement Act." Senate Finance Committee Chairman William V. Roth, Jr. (R-DE) delivered the following opening remarks:
"The Committee will now turn to the mark up of H.R. 4844, the 'Railroad Retirement and Survivors' Improvement Act.' This bill would improve benefits under the Railroad Retirement system and modernize its financing.
"The Railroad Retirement program is a wholly unique pension system. Created by Congress in 1935, Railroad Retirement is in effect a multi-employer pension system located in the Federal government, covering over 1 million Rail employees, retirees, and their families.
"H.R. 4844 passed by the House by an overwhelming vote of 391 to 25. Senator Moynihan and I have received letters signed by 78 Senators, Republicans and Democrats, in support of this mark up.
"I call up H.R. 4844, the Comprehensive Retirement Security and Pension Reform Act, with a modification."
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