Page:United States Statutes at Large Volume 87.djvu/197

 87 STAT.]

165

PUBLIC LAW 93-69-JULY 10, 1973

individual under section 6 of the Railroad Retirement Act of 1937 and the annuity of each individual under the Railroad Retirement Act of 1935 shall be increased in an amount determined by the method of computing increases set forth in subsection (a) of section 104 of this Act, deeming for this purpose the average monthly earnings (in the case of a pension) or the average monthly compensation (in the case of an annuity under the Railroad Retirement Act of 1935) which would be used to compute the basic amount if the individual were to die to be the average monthly wage. SEC. 106. All recertifications rec^uired by reason of the amendments made by sections 104 and 105 of this Act shall be made by the Railroad Retirement Board without application therefor. SEC. 107. (a) For the purpose of preparing ajid submitting the report provided for in subsection (c), it shall be the duty and responsibility of representatives of employees to designate (within the thirtyday period commencing on the date of enactment of this Act) and notify the Senate Committee on Labor and Public Welfare and the House Committee on Interstate and Foreign Commerce of the identity (by name and position) of the labor members, and of representatives of carriers to designate (within such thirty-day period) and notify such committees of the identity (by name and position) of the management member's, who shall compose the group authorized to prepare in their behalf, the report provided for in subsection (c). (b) The group so authorized to prepare the report provided for in subsection (c) shall— (1) hold such meetings (which shall not be less often than once each month) as may be necessary to assure that such report will be submitted within the time provided, and contain the material prescribed, under subsection (c); and (2) submit to such committees on September 1, 1973, November 1, 1973, and January 1, 1974, interim reports as to the progress being made toward completion of the report provided for in subsection (c); except that no such interim report shall be submitted after the submission of the report provided for in subsection (c). (c)(1) Not later than April 1, 1974, representatives of employees and representatives of carriers, acting through the group designated by them pursuant to subsection (a), shall submit to such committees a report containing their joint recommendations for restructuring the railroad retirement system in a manner which will assure the longterm actuarial soundness of such system, which recommendations shall take into account the specific recommendations of the Commission on Railroad Retirement. (2) The joint recommendations contained in such report shall be specific and shall be presented in the form of a draft bill. SEC. 108. The Congress hereby declares its intent to enact legislation in 1974, effective not later than January 1, 1975, which will assure the long-term actuarial soundness of the railroad retirement system. SEC. 109. (a) The amendments made by section 101 of this Act shall become effective on July 1, 1974: Provided, however. That those amendments shall not apply to individuals whose annuities began to accrue prior to that date. (b) The amendments made by section 102 of this Act shall become effective on October 1, 1973, and shall apply only with respect to compensation paid for services rendered on or after that date: Provided, however, That such amendments shall not be applicable to any dock company, common carrier railroad, or railway labor orgajiization described in section 1(a) of the Railroad Retirement Act of 1937, with respect to those of its employees covered as of October 1, 1973, by a private supplemental pension plan established through collective bargaining, where a moratorium in an agreement made on or before

50 Stat. 312. 45 USC 228f. 49 Stat. 967. 45 USC 215 note. Ante, p. 163.

Labor^nana^ement group, report; notice to congressional committees.

Progress reports.

Report to cong r e s s i o n a l committees.

Effective dates.

50 Stat. 307. 45 USC 228a.

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