COMMISSION ON RAILROAD RETIREMENT REFORM.

SEC. 9033. COMMISSION ON RAILROAD RETIREMENT REFORM. (a) Commission on Railroad Retirement Reform.— There is established a commission to be known as the Commission on Railroad Retirement Reform (in this section referred to as the “Commission”). (b) Study.— The Commission shall conduct a comprehensive study of the issues pertaining to the long-term financing of the railroad101 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 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, (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 of Representatives from among members of the public; (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 so101 STAT. 1330–298 defined) or organization of employees (as so defined). In making appointments under this section, the President, the Speaker of the House of Representatives, and the President pro tempore of the Senate shall ensure that the members of the Commission, collectively, possess special knowledge of retirement income policy, social insurance, private pensions, taxation, and the structure of the transportation industry. A vacancy in the Commission shall be filled in the manner in which the original appointment was made. (2) Pay.— Members of the Commission shall serve without compensation, but shall be reimbursed for travel, subsistence, and other necessary expenses incurred in the performance of their duties as members of the Commission. (3) Quorum.— Five members of the Commission shall constitute a quorum but a lesser number may hold hearings. (4) Chairman.— The members of the Commission shall elect a Chairman 87a87aCopy read “chairman”. from among the membership. (d) Staff of Commission; Experts and Consultants.— (1) Staff.— Subject to such rules as may be prescribed by the Commission, the Chairman may appoint and fix the pay of such personnel as the Chairman considers appropriate. (2) Applicability of certain civil service laws.— The staff of the Commission may be appointed without regard to the provisions of title 5, United States Code, governing appointments in the competitive service, and may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates, except that no individual so appointed may receive pay in excess of the annual rate of basic pay payable for GS–18 of the General Schedule. (3) Experts and consultants.— Subject to such rules as may be prescribed by the Commission, the Chairman may procure temporary and intermittent services under section 3109(b) of title 5 of the United States Code, but at rates for individuals not to exceed the daily equivalent of the maximum annual rate of basic pay payable for GS–18 of the General Schedule. (4) Staff of federal agencies.— Upon request of the Commission, the Railroad Retirement Board and any other Federal agency may detail, on a reimbursable basis, any of the personnel thereof to the Commission to assist the Commission in carrying out its duties under this section. (e) Access to Official Data and Services.— (1) Official data.— The Commission may, as appropriate, secure directly from any department or agency of the United States information necessary to enable it to carry out this section. Upon request of the Chairman of the Commission, the head of such department or agency shall, as appropriate, furnish such information to the Commission. (2) Mails.— The Commission may use the United States mails in the same manner and under the same conditions as other departments and agencies of the United States. (3) Administrative support services.— The Administrator of General Services shall provide to the Commission on a reimbursable basis such administrative support services as the Commission may request. (f) Report.— The Commission shall transmit a report to the President and to each House of the Congress not later than October 1,101 STAT. 1330–299 1989. The report shall contain a detailed statement of the findings and conclusions of the Commission, together with its legislative recommendations. (g) Termination.— The Commission shall cease to exist 60 days after submitting its report pursuant to subsection (f). (h) Authorization of appropriations.— There is authorized to be appropriated the sum of $1,000,000 for purposes of this section, to remain available until expended but in no event beyond the date of termination provided in subsection (g).