Page:United States Statutes at Large Volume 84 Part 1.djvu/851

 84 STAT.]

PUBLIC LAW 91-377-AUG. 12, 1970

(B) One pul)lic member shall be appointed by the Speaker of the House of Representatives, after consultation with the Committee on Interstate and Foreign Commerce of the House of Representatives; (C) One public member shall be appointed by the President pro tempore of the Senate, after consultation with the Senate Committee on Labor and Public Welfare. (2) The President shall designate one member of the Commission to serve as (liairman thereof and one member of the Commission to ser\e as Vice (Chairman thereof. (3) A majority of the members of the Commission shall constitute a quorum, but a lesser number may conduct hearings. (b) Members of the Commission shall each receive a per diem rate equivalent to that authorized for (xS-18 by section 5332 of title 5, United States Code, for days when engaged ni the actual performance of duties vested in the Commission, and shall be allowed travel expenses, including per diem in lieu of subsistence, as authorized by section 5703 of title 5, Ignited States Code, for pereons in the Government service employed intermittently. (c)(1) The Commission shall conduct a stiidy of the railroad retirement system and its financing for the purpose of recommending to the Congress on or before July 1, 1971, changes in such system to provide adequate levels of benefits thereunder on an actuarially sound basis. (2) Such study shall take into account— (A) the necessity of providing benefit increases in such system commensurate with past and future benefit increases under title II of the Social Security Act; (B) the necessity of revising benefits under the railroad retirement system to meet increases in the cost of living; (C) the question of the adequacy of levels of benefits for the various classes of beneficiaries covered under such system; (D) the possibility of restructuring benefits under title II of the Social Security Act and under the railroad retirement system so as to provide coverage under such title of various classes of beneficiaries presently covered under the railroad retirement system; (E) the necessary changes to provide for a continuation of the increased level of benefits provided under the amendments made by the first four sections of this Act; (F) the possibility of changes in the financing system used to fund railroad retirement benefits including, without limitation, adjustment of the rate of tax, adjustment of the tax base, the use of general revenue financing, and revision of the investment policy of the railroad retirement fund; (G) the relationsliip between social security and railroad retirement in the areas of benefits, tax rates, and tax base including, without limitation, the desirability and feasibility of a merger of the two systems; and (H) such other matters relating to the railroad retirement system as the Commission considers necessary. (d)(1) The Commission shall appoint an Executive Director and such other personnel as the Commission deems necessary without regard to the provisions of title 5, United States Code, governing appointments in the competitive service and shall fix the compensation of such personnel -without regard to the provisions of chapter 51 and subtitle II of chapter 53 of such title relating to classification and General Schedule pay rates, except that no personnel so appointed shall receive compensation in excess of the rate authorized for GS-18 by section 5332 of such title.

793

Ante,

p. 198-1,

80 Stat. 499;; 83 Stat. 190. Study.

49 Stat. 6 2 2. 42 USC 4 0 1 " 429.

Executive Director, e t c. appointment.

80 Stat 4 4 3, 459. 5 USC 5101 5311.

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