,,ii #aaith ,,congress #b;d ,session ,s4 #dife ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #ad1 #bjbf,mr4 ,cassidy 7for himself1 ,mr4 ,sanders1 ,mr4 ,banks1 and ,mr4 ,kaine7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to amend the ,railroad ,retirement ,act of #aigd to establish a ,railroad ,retirement ,board ,administrative ,account1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,railroad ,retirement ,board ,stability ,act of #bjbf4 #b4 ,railroad ,retirement ,board ,administrative ,account 7a7 ,in general ,section #ae7;h7 of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bcan7h77 is amended to read as follows3 7h7 ,railroad ,retirement ,board ,administrative ,account 7#a7 ,in general ,there is created within the ,treasury an account known as the ,railroad ,retirement ,board ,administrative ,account 7in this subsection1 referred to as the ,account74 ,all amounts within the ,account are permanently and continuously available to the ,board for purposes of administering this ,act and the ,railroad ,unemployment ,insurance ,act 7#de ,u4,s4,c4 #cea et seq474 7#b7 ,transfers and limitations 7,a7 ,transfer authority ,subject to subparagraph 7,b71 the ,board may transfer from the ,railroad ,retirement ,account1 the ,social ,security ,equivalent ,benefits ,account1 and the ,railroad ,unemployment ,insurance ,administration ,fund amounts the ,board determines to be necessary for the purposes described in paragraph 7#a74 7,b7 ,limitations on amounts 7i7 ,fiscal years #bjbg through #bjca ,for fiscal years #bjbg through #bjca1 the ,board shall not transfer funds in a fiscal year to the ,account in an amount that is greater than-- 7,i7 the lesser of-- 7aa7 #a4be percent of the total benefits paid under this ,act and the ,railroad ,unemployment ,insurance ,act 7#de ,u4,s4,c4 #cea et seq47 during the preceding fiscal year2 or 7bb7 #j4ge percent of the total amounts in the ,national ,railroad ,retirement ,investment ,trust as of the close of the preceding fiscal year2 minus 7,,ii7 the unobligated amounts in the ,account as of the close of the previous fiscal year4 7ii7 ,fiscal year #bjcb and subsequent fiscal years ,for fiscal year #bjcb and subsequent fiscal years1 the ,board shall not transfer funds in a fiscal year to the ,account in an amount that is greater than-- 7,i7 the lesser of-- 7aa7 #a4ae percent of the total benefits paid under this ,act and the ,railroad ,unemployment ,insurance ,act 7#de ,u4,s4,c4 #cea et seq47 during the preceding fiscal year2 or 7bb7 #j4ge percent of the total amounts in the ,national ,railroad ,retirement ,investment ,trust as of the close of the preceding fiscal year2 minus 7,,ii7 the unobligated amounts in the ,account as of the close of the previous fiscal year4 7,c7 ,purpose limitations ,amounts transferred to the ,account from-- 7i7 the ,social ,security ,equivalent ,benefits ,account may only be used to provide for the administrative expenses of the ,board allocable to social security equivalent benefits under section #ae;,a7c77#a72 and 7ii7 the ,railroad ,unemployment ,insurance ,administration ,fund-- 7,i7 may only be used for the administrative expenses of the ,board allocable for administering the ,railroad ,unemployment ,insurance ,act 7#de ,u4,s4,c4 #cea et seq472 and 7,,ii7 shall be subject to the same restrictions described in section #aa7;c7 of such ,act 7#de ,u4,s4,c4 #cfa7;c774 7#c7 ,technology fund 7,a7 ,in general ,within the ,account1 there is created a ,railroad ,retirement ,technology ,fund 7in this subsection1 referred to as the ,fund74 ,in addition to amounts otherwise available1 the ,board shall use amounts in the ,fund to complete its modernization of legacy benefit processing systems4 7,b7 ,transfers ,of the amounts transferred to the ,account under paragraph 7#b77;,a71 the ,board shall transfer not less than the following amounts to the ,fund3 7i7 ,for fiscal year #bjbg1 #aj1jjj1jjj4 7ii7 ,for each of fiscal years #bjbh through #bjca1 #bj1jjj1jjj4 7,c7 ,availability ,amounts transferred under this paragraph shall remain available to the ,board to complete its modernization of legacy benefit processing systems through fiscal year #bjcb4 ,on the last day of fiscal year #bjcb1 the ,board shall transfer any unobligated amounts remaining in the ,fund to the ,account4 7#d7 ,additional amounts ,in addition to amounts transferred under paragraph 7#b77;,a7 or amounts otherwise available1 there is authorized to be appropriated to the ,account from the ,railroad ,retirement ,account1 the ,social ,security ,equivalent ,benefits ,account1 and the ,railroad ,unemployment ,insurance ,administration ,fund-- 7,a7 for fiscal year #bjbg and subsequent fiscal years1 for any additional administrative expenses of the ,board with respect to unforeseen needs relating to processing claims for benefits1 such sums as are necessary2 and 7,b7 for fiscal year #bjcc and subsequent fiscal years1 for modernization of the ,board's legacy benefit processing systems1 such sums as are necessary4 4 7b7 ,conforming amendments 7#a7 ,railroad ,retirement ,act ,the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca et seq47 is amended-- 7,a7 in section #ae7;a71 by inserting to transfer to the ,railroad ,retirement ,board ,administrative ,account established under subsection 7h7 before to provide for expenses2 and 7,b7 in section #ae;,a7c71 by striking to provide and inserting to transfer to the ,railroad ,retirement ,board ,administrative ,account established under section #ae7;h74 7#b7 ,railroad ,unemployment ,insurance ,act ,section #aa7;c7 of the ,railroad ,unemployment ,insurance ,act 7#de ,u4,s4,c4 #cfa7;c77 is amended-- 7,a7 by striking ,notwithstanding and inserting ,subject to section #ae7;h7 of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca7;h77 and notwithstanding2 and 7,b7 by inserting for transferring to the ,railroad ,retirement ,board ,administrative ,account established under section #ae7;h7 of the ,railroad ,retirement ,act of #aigd 7#de ,u4,s4,c4 #bca7;h77 before for any expenses necessary4 7c7 ,savings clause ,nothing in this section shall be construed as changing any requirement in law for the ,railroad ,retirement ,board to submit any annual budget estimate1 request1 or other budget information to ,congress1 the ,president1 the ,office of ,management and ,budget1 or any other ,federal agency4 #c4 ,,gao reports on information technology modernization efforts 7a7 ,initial report 7#a7 ,in general ,not later #aj months after the date of enactment of this ,act1 the ,comptroller ,general of the ,united ,states 7in this section1 referred to as the ,comptroller ,general7 shall submit to the ,committee on ,health1 ,education1 ,labor1 and ,pensions of the ,senate and the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives a report with recommendations for legislation and administrative action on ways to modernize the legacy benefit processing systems used by the ,railroad ,retirement ,board 7in this section1 referred to as the ,board74 7#b7 ,content of the report ,in completing the report described in paragraph 7#a71 the ,comptroller ,general shall-- 7,a7 consider-- 7i7 experience and lessons learned from other ,federal agencies' modernization of their information technology systems1 focusing on such agencies that have upgraded information technology systems that use the ,common ,business-,oriented ,language 7commonly referred to as ,,cobol7 programming language2 and 7ii7 best practices that the ,comptroller ,general identifies for ,federal agency information technology modernization efforts2 and 7,b7 identify resources1 technical assistance1 and other forms of support available from other ,federal agencies for the ,board to carry out the modernization of the ,board's legacy benefit processing systems4 7b7 ,stakeholders ,to consult ,in carrying out subsection 7a71 the ,comptroller ,general shall consult the following stakeholders3 7#a7 ,each of the #c members of the ,board4 7#b7 ,the ,chief ,information ,officer of the ,board4 7#c7 ,representatives of each of the ,class ,i railroads1 as defined in section #bjajb of title #di1 ,united ,states ,code4 7#d7 ,representatives of not less than #b ,class ,,ii or ,class ,,iii railroads1 as defined in such section4 7#e7 ,representatives of each rail union that represents rail workers who are eligible for benefits under the ,railroad ,retirement ,act and ,railroad ,unemployment ,insurance ,act4 7#f7 ,retirees and other beneficiaries that currently receive benefits from the ,board4 7c7 ,follow-,up report ,not later than #f months after the end of fiscal year #bjca1 the ,comptroller ,general shall submit a follow-up report to the report described in subsection 7a71 which shall include information regarding-- 7#a7 to what extent the ,board followed the recommendations and best practices of the report described in subsection 7a72 7#b7 how effectively the ,board complied with its own internal project plans and milestones for completing the modernization of its legacy benefit processing systems2 7#c7 areas1 if any1 where the ,board failed to modernize its legacy benefit processing systems2 and 7#d7 the estimated remaining cost for completing the modernization of the ,board's legacy benefit processing systems1 if any4