amendments relating to railroad retirement

amendments relating to railroad retirement Sec. 408. (a) Section 4 of the Railroad Retirement Act of 1937 is amended by adding at the end thereof the following new subsections: “(p) (1) Military service rendered by an individual after December 1956 shall be creditable under this section only if the number of such individual’s years of service is ten or more (including, in such years of service, military service which, but for this subsection, would be creditable under this section). “(2) In any case where an individual has completed ten or more years of service and such years of service include any military service rendered after December 1956, the Board shall as promptly as is practicable (A) notify the Secretary of Health, Education, and Welfare that such military service is creditable under this section and (B) specify the period or periods of the military service tendered after December 1956 which is so creditable. “(q) Notwithstanding the provisions of this section and section 2 (c) (2), military service rendered by an individual after December 1956 shall not be used in determining eligibility for, or computing the amount of, any annuity accruing under section 2 for any month if (1) any benefits are payable for that month under title II of the Social Security Act on the basis of such individual’s wages and self-employment income, (2) such military service was included in the computation of such benefits, and (3) the inclusion of such service in the computation of such benefits resulted (for that month) in benefits not otherwise payable or in an increase in the benefits otherwise payable. “(r) The Secretary concerned (as defined in section 102 (9) of the Servicemen’s and Veterans’ Survivor Benefits Act) shall maintain such records, and furnish the Board upon its request with such information, regarding the months of any individual’s military service and the remuneration paid therefor, as may be necessary to enable the Board to carry out its duties under this section and sections 2 and 5.” (b) (1) The first sentence of section 4 (n) of the Railroad Retirement Act of 1937 is amended— (A) by striking out “(i)” and “(ii)” and inserting in lieu thereof “(1)” and “(2)”, respectively; 70 Stat. 877 (B) by striking out “for military service after December 31, 1936” and inserting in lieu thereof “for military service after December 31, 1936, and prior to January 1, 1957”; and (C) by inserting before the period at the end thereof a comma and the following: “and (3) an amount found by the Board to be equal to (A) the amount of the total additional excise and income taxes which would have been payable during the preceding fiscal year under chapter 22 of the Internal Revenue Code of 1954 with respect to the compensation, as defined in such chapter, of all individuals entitled (without regard to subsection (p) (1) of this section) to credit under this Act for military service after December 1956 if each of such individuals, in addition to compensation actually paid, had been paid such compensation in the amount of $160 in each calendar month in which he was in such military service during such preceding fiscal year and such taxes were measured by all such compensation without limitation as to amount paid to any individual in any one calendar month, less (B) the amount of the taxes which were paid with respect to such military service under sections 3101 and 3111 of the Internal Revenue Code of 1954”. (2) Section 4 (n) of such Act is further amended by adding at the end thereof the following new sentence: “In determining pursuant to section 5 (k) (2) for any fiscal year the total amount to be credited from the Railroad Retirement Account to the Old-Age and Survivors Insurance Trust Fund, credit shall be given such Account for the amount of the taxes described in clause (3) (B) of the first sentence of this subsection.” (c) Section 1 (q) of the Railroad Retirement Act of 1937 is amended by striking out “as amended in 1954” and inserting in lieu thereof “as amended in 1956”.