PUBLIC LAW 100-203—DEC. 22, 1987
101 STAT. 1330-297
retirement system (in this section referred to as the "system") and the system's short-term and long-term solvency. The Commission Reports, shall submit a report containing a detailed statement of its findings and conclusions together with recommendations to the Congress for revisions in, or alternatives to, the current system to assure the provision of retirement benefits to former, present, and future railroad employees on an actuarially sound basis. The study will take into account— (1) the possibility of restructuring the financing of railroad retirement benefits through increases in the tier 2 tax rate, increases in the tier 2 tax wage base, the imposition of a tax on operating revenues, revisions in the investment policy of the railroad retirement pension fund, and establishing a privately funded and administered railroad industry pension plan; (2) the economic outlook for the railroad industry, and the nature of the relationships between the railroad retirement system, levels of railroad employment and compensation, and the performance of the rail sector; (3) the ability of the system under current law to pay benefits to current and future retirees and other beneficiaries; (4) the financial relationship of the system to the railroad unemployment insurance system, the social security system, and the General Fund; and (5) any other matters which the Commission considers would be necessary, appropriate, or useful to the Congress in developing legislation to reform the system. (c) MEMBERSHIP OF THE COMMISSION.— (1) NUMBER AND APPOINTMENT.—The
Commission shall be
composed of seven members, as follows: (A) four individuals appointed by the President— (i) one of whom shall be appointed on the basis of recommendations made by representatives of employers (as defined in section 1(a) of the Railroad Retirement Act of 1974) so as to provide representation on the Commission satisfactory to the largest number of employers concerned, (ii) one of whom shall be appointed on the basis of recommendations made by representatives of employees (as defined in section 1(b) of the Railroad Retirement Act of 1974) so as to provide representation on the Commission satisfactory to the largest number of employees concerned, 5 (iii) one of whom shall be appointed on the basis of recommendations made by representatives of commuter railroads, and (iv) one of whom shall be appointed from members of the public; (B) one individual appointed by the Speaker of the House 't of Representatives from among members of the public; ZYd (C) one individual appointed by the President pro tempore of the Senate from among members of the public; and (D) one individual appointed by the Comptroller General from among members of the public with expertise in the fields of retirement systems and pension plans. All public members of the Commission shall be appointed from among individuals who are not in the employment of and are not pecuniarily or otherwise interested in any employer (as so
President of U.S.