Page:United States Statutes at Large Volume 48 Part 1.djvu/1313

 73d CONGRESS. SESS. II. CH. 868. J UNE 27, 1934. 1287 RETIREMENT BOARD Retirement Board. SEC. 9. (a) P ERS ON NE L .-There is hereby established as an inde- personnel . pend ent agen cy in the ex ecut ive bran ch of the Gov ernm ent a Rail road Ret irem ent Boar d, to be com posed of thre e me mber s appointed by the President, by and with the advice and consent of the Senate. Each member shall hold office for a term of five years, Term of office. except that any member appointed to fill a vacancy occurring prior to the expiration of the term for which his predecessor was appointed, shall be appointed for the remainder of the term and the Appointment. terms of office of the members first taking office after the date of enactment of this Act shall expire, as designated by the President, one at the end of two years, one at the end of three years, and one at the end of four years, after the date of enactment of this Act. One memb er s hall be appo inte d fr om r ecom mend atio ns m ade by representatives of the employees and one member shall be appointed from rec omme ndat ions made by rep rese ntat ives of the carr iers, in both cases as the President shall direct, so as to provide representa- tion on the Board satisfactory to the largest number, respectively, of employees a nd carriers concerned. One member, who shall be the chairman of the Board, shall be appointed initially, for a term of two years, without recommendation by either carriers or employees and shall not be in the employment of or be pecuniarily or otherwise interested in any carrier or organization of employees. Vacancies vacancies. in the Board shall not impair the powers nor affect the duties of the B oard nor of the rema inin g me mber s of the Bo ard of w hom a majority of those in office shall constitute a quorum for the trans- action of business. Each of said members shall receive a salary of salary, etc. $10, 000 per year, together with nece ssar y tr avel ing expe nses and subsistence expenses, or per diem allowance in lieu thereof, while away from t he principal office of the Board on duties required by this Act. The members and employees of the Board shall be incl uded as empl oyee s un der this Act and together with employees receiving a nnuities shall be furnished free transportation in the same manner as such transportation is furnished to employees. (b) DuTIEs .-The Board shall have and exercise all the duties and Duties. powers necessary to administer this Act. The Board shall receive and take such steps and institute and pro secu te s uch proc eedi ngs and actions as may be necessary to enforce the payments and obli- gati ons requ ired under the Act, make and cer tify awa rds and pay- ments, and account for all moneys and funds necessary thereto. The Board may req uire suc h ad vanc es u pon the pay ment s of car rier s as necessary to put this Act into operation. The Boar d sh all esta b- ScRbe to be pre- l ish and prom ulga te r ules and reg ulat ions and pro vide for the adjustment of all controversial matters, with power as a Board or through any member or subordinate designated therefor, to require and compel the attendance of witnesses, administer oaths, take tes timo ny, and make all nec essa ry i nves tiga tion s in any mat ter involving annuities or other payments, and shall maintain such offices, provide such equipment, furnishings, supplies, services, and facilities and employ such persons and provide for their com pen- sation and expenses, as may be n eces sary to the prop er d isch arge of its functions. All rules, regulations, or decisions of the Board shall re qu ire the approval of at least two members and shall be entered upon the records of the Board and shall be a public record. TheBoard shall gather, keep, compile, and publish in convenient Records, etcm form such records and data as may be nec essa ry, and at i nter vals of not more than two years shall cause to be made actuarial surveys Actuarial surveys. and analyses, to determine fr om time to time the payments to be