[Congressional Record (Bound Edition), Volume 147 (2001), Part 19]
[Extensions of Remarks]
[Pages 26209-26210]
[From the U.S. Government Publishing Office, www.gpo.gov]



             RAILROAD RETIREMENT AND SURVIVORS' IMPROVEMENT

                                 ______
                                 

                               speech of

                             HON. TOM UDALL

                             of new mexico

                    in the house of representatives

                       Tuesday, December 11, 2001

  Mr. UDALL of New Mexico. Mr. Speaker, I rise today in strong support 
of H.R. 10, the

[[Page 26210]]

Railroad Retirement and Survivors' Improvements Act of 2001. This 
critical legislation makes important improvements in the benefit 
structure for retired railroad workers, especially for widows and 
widowers.
  In the early 1900's, the rail industry was the nation's largest 
employer. With record levels of unemployment, the Federal Government 
decided to provide economic incentives to encourage the retirement of 
older employees, thereby creating more jobs for younger workers.
  ``Railroad Retirement'' was created to provide retirement benefits 
beginning in 1936 creating retirement incentive for many older railroad 
employees who otherwise would not have received Social Security 
benefits until 1942. This program replaced the private railroad pension 
plans and began to pay benefits in 1936, based on up to 30 years of 
past untaxed rail service.
  The system is now $40 billion short of what would be required to pay 
benefits to all the workers who have yet to retire and their survivors.
  Congress has a responsibility to provide railroad retirees and their 
survivors with increased benefits, as well as making necessary changes 
to update and modernize the railroad employee benefit system.
  To that end, I urge my colleagues to join me in support of H.R. 10. 
More than 670,000 retirees and dependents and 245,000 active rail 
employees will benefit from the improvements made by the Railroad 
Retirement and Survivors' Improvement Act of 2001. Please support our 
nation's railroad workers, rail retirees and spouses by supporting this 
critical reform package. Vote yes on H.R. 10.

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