Railroad Retirement Reform Bill Introduction 

Washington, D.C. - The Republican and Democratic leadership of the U.S. House Transportation Committee and representatives of labor and railroad management will hold a press conference today to announce the introduction of the "Railroad Retirement and Survivors' Improvement Act of 2001."

• Time: 2:30 p.m., Wednesday, March 21st
• Location: 2253 Rayburn House Office Building

Participants scheduled to attend the press conference are:

• U.S. Rep. Don Young (R-Alaska), Chairman, Transportation Committee
• U.S. Rep. Jim Oberstar (D-MN), Ranking Democrat on the Committee
• U.S. Rep. Jack Quinn (R-NY), Chairman of the Railroad Subcommittee
• U.S. Rep. Bob Clement (D-TN), Ranking Democrat on the Subcommittee
• A representative from railroad management
• A rail union representative

The Railroad Retirement and Survivors' Improvement Act of 2001 will modernize and enhance the railroad retirement system. The proposal, which represents an agreement between railroad labor and railroad management after two years of negotiations, will enhance and modernize the railroad retirement system. It allows for investment of railroad retirement assets in a diversified portfolio. The increased returns will be used to provide improved benefits to railroad retirees and lower taxes on railroads.