receipts to the Retirement Account will be higher due to these increases. Expenditures in 1966 relate to selected increase on benefits since hospital benefits begin on July 1, 1966. Under proposed legislation, 1966.-Proposed legislation Income.-The income of the Railroad retirement acwill include the Railroad Retirement system in the changes. count consists of taxes paid by railroad employers and employees; interest on investments; appropriations for being proposed for the Social Security system. Coverage of all aged railroad beneficiaries under the hospital insurmilitary service credits; repayments on amounts loaned ance, and selected increases in benefits will be financed to the Railroad unemployment insurance account; pay-through increases in the tax rate and wage base. 1966 ments from the Federal old-age and survivors insurance trust fund and Federal disability insurance trust fund. The railroad retirement system has reinsurance arrangement of annual financial interchanges with the social security system so as to place these systems in the same position in which they would have been if railroad employment had been included in social security coverage. Retirement, disability, and survivor benefit payments.Payment estimates reflect the continuing growth in the beneficiary rolls. Administrative expenses. Such expenses are subject to annual limitations in appropriation acts (see Limitation on salaries and expenses, Railroad Retirement Board in part II of the budget). Loan to Railroad unemployment insurance account.The Railroad Unemployment Insurance Act provides that when the balance in the Railroad unemployment insurance account is insufficient to pay benefits due under that act, necessary amounts are to be borrowed from the Railroad retirement account. When the balance in the Railroad unemployment insurance account permits, borrowed amounts are to be repaid to the Railroad retirement account with interest. LIMITATION ON RAILROAD UNEMPLOYMENT INSURANCE Program and Financing (in thousands of dollars) 1964 actual 1965 1966 estimate estimate Limitation... Includes capital outlay as follows: 1964, $589 thousand; 1965, $20 thousand; 1966, $20 thousand. 2 Selected resources as of June 30 are as follows: Unpaid undelivered orders, 1963, $16 thousand; 1964. $13 thousand; 1965, $13 thousand; 1966, $13 thousand. The Board administers an unemployment and sickness insurance system and an employment service for unemployed railroad workers. The administrative expenses are financed through a permanent authorization of 0.25% of taxable payroll. As of each June 30, the unobligated balance in this fund in excess of $6 million is transferred to the Railroad unemployment insurance account in the unemployment trust fund (45 U.S.C. 361). Total number of permanent positions.. SMITHSONIAN INSTITUTION CANAL ZONE BIOLOGICAL AREA FUND Program and Financing (in thousands of dollars) 12,726 160 10,000 225 10,000 250 1. Maintenance of earnings accounts.-Insurance payments for unemployment, sickness, and maternity benefits are based on individual records of earnings and daily wage rates and the workload fluctuates according to such factors as level of employment and rate of turnover in the railroad industry. The costs are shared on a measured basis with the retirement program. Accounts posted were 990,000 in 1964 and are estimated at 970,000 and 960,000 in 1965 and 1966. 2. Processing of unemployment insurance claims.Workers' claims for unemployment compensation are filed locally and certified for payment through the headquarters offices. Regular unemployment claims were 1,188,000 in 1964 and are estimated to be 1,100,000 in 1965 and 1,000,000 in 1966. 3. Processing of sickness and maternity claims.-These claims are filed by mail and certified for payment through the headquarters offices of the Board. Sickness claims were 727,000 in 1964 and are estimated to be 718,000 in 1965 and 710,000 in 1966. 4. Claimant placement services.-The Board conducts an employment service for unemployment benefit claimants. This resulted in savings of benefit payments of approximately $5.1 million in 1964 as 25,900 placements were made. Placements are estimated at 30,000 in 1965 and 1966. 5. Administration.-The costs of administration are shared between this and the retirement program on a measured basis. 10 Maintenance and operation of facilities (costs-obligations) (object class 25.1) - Financing: 21 Unobligated balance available, start of year.. 24 Unobligated balance available, end of year. This fund, established under 26 U.S.C. 7448, is used to pay eligible widows and dependent children of deceased judges of the Tax Court of the United States. Participating judges pay into the fund 3% of their salaries or retired pay to cover creditable service for which payment is required and such additional funds as are needed are provided through the annual appropriation to the Tax Court of the United States. On June 30, 1964, eight judges of the court were participating in the fund, and two eligible widows were receiving annuity payments. UNITED STATES INFORMATION AGENCY UNITED STATES INFORMATION AGENCY TRUST FUNDS Program and Financing (in thousands of dollars) 1. U.S. dollars advanced from foreign governments.These funds are advanced from foreign governments and private organizations for purchase of films owned or controlled by the United States Information Agency (22 U.S.C. 1431 et seq.) and for replacing damaged or destroyed United States Information Agency property (22 U.S.C. 1479). 22.0 Transportation of things....... Program by activities: 23.0 Rent, communications, and utilities.. 25.1 Other services. 26 1. U.S. dollars advanced from foreign gov 26.0 Supplies and materials. 3 26 5204 8 38 32 27 3. Contributions for distribution of donated books.. |