Page:United States Statutes at Large Volume 95.djvu/665

 PUBLIC LAW 97-35—AUG. 13, 1981

95 STAT. 639

7(b)(2) of this Act the amount of annuity payments made to such 45 USC 23if. individual which are erroneous because of such individual's entitlement to monthly insurance benefits under title II of the Social Security Act.. SEC. 1124. (a) Section 15(d) of the Railroad Retirement Act of 1974 is 45 USC 23ln. amended by striking out the first two sentences and inserting in lieu thereof the following: "There is hereby created an account in the Treasury of the United States to be known as the Dual Benefits Payments Account. There is hereby authorized to be appropriated to such account for each fiscal year beginning with the fiscal year ending September 30, 1982, such sums as are necessary to pay during such fiscal year the amounts of annuities estimated by the Board to be paid under sections 3(h), 4(e), and 4(h) of this Act and under sections 204(a)(3), 204(a)(4), 206(3), and 207(3) of Public Law 93-445. Not more than 30 days prior to each fiscal year beginning with the fiscal year ending September 30, 1982, the Board may request the Secretary of the Treasury to transfer from the Railroad Retirement Account to the credit of the Dual Benefits Pa3mients Account any amount not exceeding one-twelfth of the amount which the Board has determined will be the amount of the appropriation to be made to the Dual Benefits Payments Account under the applicable Public Law making such appropriation for such fiscal year, and the Secretary of the Treasury shall make such transfer. Not more than 10 days after the funds appropriated to the Dual Benefits Payments Account for each such fiscal year are received into such Account, the Board shall request the Secretary of the Treasury to retransfer from the Dual Benefits Payments Account to the credit of the Railroad Retirement Account an amount equal to the amount transferred to the Dual Benefits Payments Account prior to such fiscal year under the preceding sentence, together with such additional amount determined by the Board to be equal to the loss of interest to the Railroad Retirement Account resulting from such transfer, and the Secretary of the Treasury shall make such retransfer.". (b) Section 15(e) of the Railroad Retirement Act of 1974 is amended by inserting ", the Dual Benefits Payments Account" after "Railroad Retirement Account" in the first sentence thereof. (c) Section 15(g) of the Railroad Retirement Act of 1974 is amended by striking out the period at the end of the first sentence and inserting in lieu thereof the following: ", and the Dual Benefits Payments Account.". SEC. 1125. Section 18(2) of the Railroad Retirement Act of 1974 is 45 USC 23iq. amended by inserting "and section 216(i)" immediately after "203". SEC. 1126. (a) Not later than October 1, 1982, the President shall Report to analyze options that will assure the long-term financial integrity of Congress. the railroad retirement system and report to the Congress the results 45 USC 231n note. of such analysis, together with recommendations with respect to such options and such comments as may have been submitted by representatives of railroad labor and management. (b) The Railroad Retirement Act of 1974 is amended by adding at the end thereof the following: BENEFIT PRESERVATION

"SEC. 22. (a) In any fiscal year in which the Board determines that general revenue borrowing authority available under this Act will be used to borrow an amount equal to or greater than fifty percent of the total amount available under such borrowing authority for that fiscal year, the Board shall, on or before April 1 of that year, report to the

Report to President, Speaker of the House, and President of the Senate. 45 USC 231u.

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