Reagan Library Closure

We're sorry. Due to the coronavirus public health emergency, the Ronald Reagan Presidential Library & Museum will be closed to the public beginning March 14th until further notice. This includes docents, volunteers and interns. We will continue to respond to written reference requests at reagan.library@nara.gov. Please check our website, reaganlibrary.gov or www.archives.gov/coronavirus  for updates on our operating hours and status.

All public events at the Reagan Library facilities are cancelled until further notice. This includes in-person public programs, tours, school group visits, public meetings, external conferences, and facility rentals. Where possible, we will conduct public events and outreach activities online and through virtual meetings. For online education information, please see our educational resources.

Notice to NARA Researchers and FOIA Requestors

Due to the COVID-19 pandemic and pursuant to guidance received from the Office of Management and Budget (OMB), NARA has adjusted its normal operations to balance the need of completing its mission-critical work while also adhering to the recommended social distancing for the safety of our staff.  As a result of this re-prioritization of activities, you may experience a delay in receiving an initial acknowledgment as well as a substantive response to your reference or FOIA request or appeal.  We apologize for this inconvenience and appreciate your understanding and patience.  Read more on how NARA is addressing COVID-19 (coronavirus) https://www.archives.gov/coronavirus

RESEARCHERS: Please see a "Letter to Researchers" from the Archivist of the United States for a further update.

 


 

Message to the Congress Transmitting the Annual Report of the Railroad Retirement Board

November 20, 1987

To the Congress of the United States:

I hereby submit to the Congress the Annual Report of the Railroad Retirement Board for Fiscal Year 1986, pursuant to the provisions of Section 7(b)(6) of the Railroad Retirement Act, enacted October 16, 1974, and Section 12(1) of the Railroad Unemployment Insurance Act, enacted June 25, 1938.

The rail industry pension fund has nearly gone broke three times since 1974. Significant declines in rail employment have eroded the pension fund's contribution base. Refinancing legislation enacted in 1974, 1981, and 1983 has failed to provide long-term solutions for the rail pension system. The Railroad Retirement Board's chief actuary is again predicting cash-flow problems and recommends an upward adjustment in the rail sector's contributions.

Rail industry pensions should be fully financed from rail sector resources. As long as the Federal Government has a fiduciary responsibility for rail pensions, I will work to ensure that rail sector contributions are adequate to finance rail retirees' benefits. I therefore concur with the chief actuary, Board Chairman Gielow, and Board Member Chamberlain that the rail sector's contributions should increase to prevent the pending financial crisis and to ensure adequate financing for rail industry pensions. I renew my August recommendation for a 3-percent rail sector contribution rate increase on January 1, 1988, and a 1.5-percent increase on January 1, 1989.

I strongly oppose suggestions by some to restart American taxpayer subsidies to the rail sector by transferring Federal income taxes collected on rail pensions to the rail industry pension fund. As the Congress recognized in 1983 and 1986, rail pensions -- the amounts above social security equivalent levels -- are private pensions and should be treated like all other private industry pensions. Income taxes collected on these private pensions should go to the general fund, not be converted to subsidies to the rail sector.

The long-term solution for the rail pension system lies in the private sector, where all other industry pension systems reside. Rail labor and management should be allowed to determine pension financing and payment provisions free from Federal intrusion and participation. I therefore reaffirm my position that the rail pension system should be restored to the private sector and terminated as a Federally administered program.

Ronald Reagan

The White House,

November 20, 1987.

Note: The 134-page report was entitled "Railroad Retirement Board, 1986 Annual Report for the Fiscal Year Ending September 30.''