Page:United States Statutes at Large Volume 97.djvu/472

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97 STAT. 440 PUBLIC LAW 98-76—AUG. 12, 1983 45 USC 231n. "Social security equivalent benefits." 45 USC 231f. Effective date. 45 USC 231n-l note. 45 USC 231n-l note. Ante, pp. 420, 421. Ante, p. 438. 26 USC 3101 et seq. Report to Congress. 45 USC 231f-l. Ante, pp. 420, 421. "(B) the transfer under this paragraph will not jeopardize the present or future payment of social security equivalent benefits, the Board shall request the Secretary of the Treasury to transfer from the Social Security Equivalent Benefit Account to the Railroad Retirement Account such moneys as the Board estimates will be necessary for the payment of such annuities, and the Secretary shall make such transfer. No transfer under this paragraph shall be required to be repaid. "(e) The provisions of subsections (e), (f), and (g) of section 15 are hereby made applicable to the Social Security Equivalent Benefit Account. "(f)(1) For purposes of making payments of social security equiva- lent benefits, references in the Act to the Railroad Retirement Account shall be treated as references to the Social Security Equiva- lent Benefit Account. "(2) For purposes of this section, the term 'social security equiva- lent benefits' means benefits payable under this Act which are of a kind taken into account in determining the amount of transfers made under section 7(c)(2) of this Act.". (b)(1) The amendment made by this section shall take effect on October 1, 1984. (2)(A) The tier 1 portion of the tax imposed by section 3201, 3211, or 3221 of the Internal Revenue Code of 1954, as the case may be, with respect to compensation paid before 1985 shall be treated as described in subparagraph (A) of section 15A(b)(l) of the Railroad Retirement Act of 1974. (B) For purposes of subparagraph (A), the tier 1 portion of any tax is so much of such tax as is determined by reference to the rates of taxes imposed by chapter 21 of the Internal Revenue Code of 1954. STUDY SEC. 502. On or before July 1 of 1985, and of each calendar year thereafter, the Railroad Retirement Board shall submit to the Con- gress a report on the actuarial status of the railroad retirement system under various economic and employment assumptions. Such report shall include any recommendation for financing changes which might be advisable, including— (1) any adjustment the Railroad Retirement Board recom- mends regarding the rates of taxes imposed by sections 3201(b), 3211(a)(2), and 3221(b) of the Internal Revenue Code of 1954, and (2) if there are sufficient reserves in the Railroad Retirement Account, whether— (A) the rates of such taxes should be reduced, or (B) any part of the tax imposed by section 3221(b) of such Code should be diverted to the Railroad Unemployment Insurance Account to aid in the repayment of its debt to the Railroad Retirement Account. INCREASE IN MONTHLY WAGE BASE SEC. 503. (a)(1) Subsection (a) of section 8 of the Railroad Unem- 45 USC 358. ployment Insurance Act is amended by striking out so much of such subsection as precedes the table contained therein and inserting in lieu thereof the following: "SEC. 8. (a) Every employer shall pay a contribution, with respect to having employees in his service, equal to the percentage deter-