Page:United States Statutes at Large Volume 50 Part 1.djvu/341

 316 Exemption. Penalties. PENALTIES Failure to make re- port or furnis h infor- mation. False, etc., ment. Penalty. Se par abil ity of provisions. Rai lro ad Reti re- ment Account. An nual ap pro pria - tio ns author ized. Post, p. 470. Annual estimate. Investments. stat e- 75TH CONGRESS, 1sT SESS ION -CH. 382-JUNE 24, 1937 shall have jurisdiction to entertain such application and to grant appropriate relief. The decision of the Board with respect to an annuity, pe nsion, or death bene fit shall not be sub ject to re view by any court unless suit is commenced within one year after the decision shall have been entered upon the records of the Board and communi- ca ted to the person cl aiming the annuity, p ension, or death ben efit. The jurisdiction herein specifically conferred upon the Federal courts shall not be held exclusive of any jurisdiction otherwise possessed by such cour ts to ente rtain acti ons at law or suits i n equity i n aid of the enforcement of rights or obligations arising under the pro- visions of this Act or the Railroad Retirement Act of 1935. " EXEMPTION "SEC. 12 . No annuity or pension payment shall be assignable or be subject to any tax or to garnishment, attachment, or other legal process under any circumstances whatsoever, nor shall the payment thereof be anticipated. "SEC. 13 . Any officer or agent of an employer, as the word employer' is hereinbefore defined, or any employee acting in his own behalf, or any individual whether or not of the character herein- before defined, who shall willfully fail or refuse to make any report or furni sh any informa tion re quired, in acc ordance with t he pro- visions of section 10 (b) 4, by the Board in the administration of this Act or the Railroad Retirement Act of 1935, or who shall knowingly make or cause to be made any false or fraudulent state- ment or report when a statement or report is required to be made fo r the purpose of suc h Acts, or who shall knowing ly make or aid in making an y false or fraudulen t statement or claim for the pu rpose of causing an award or payment under such Acts, shall be punished by a fine of not more than $10,000 or by imprisonment not exceeding one year. " SEPARABILITY "SEC. 1 4 . If any provision of this Ac t or the R ailroad Re tirement Act of 1935, or the application thereof to any person or circum- stance, should be held invalid, the remainder of such Act, or the application of such provision to other persons or circumstances, shall not be affected thereby . "RAILROAD RE TIR EM ENT AC COU NT "SEC. 15. (a) There is hereby created an account in the Treasury of t he United States to be known a s the Rail road Retir ement Acco unt . There is hereby authorized to be appropriated to the account for each fiscal year, beginning with the fiscal year ending June 30, 1937, as an annual premium an amount sufficient, with a reasonable margin for c ontingenci es, to pro vide for th e payment of all ann uities, pe n- sions, and death benefits in accordance with the provisions of this Act and the Railroad Retirement Act of 1935 . Such amount shall be based on such tables of mortality as the Railroad Retirement Board shall from time to time adopt, and on an interest rate of 3 per centum per annum comp ounded annually . The Rai lroa d Retirement Board shall submit annually to the Bureau of the Budget an estimate of the appropriation to be made to the account . "(b) At the request and direction of the Board, it shall be the duty of the Secretary of the Treasury to invest suc h portion of the