US Code

Public Law 119-87 (04/30/2026)

45 U.S.C. § 360

Railroad unemployment insurance account

(a)

Funds constituting account; availability for benefits or refunds

section 1104 of title 42section 358 of this title1

1 See References in Text note below.
section 364 of this titlesection 1104(e) of title 42section 361 of this titlesection 362(g) of this titleThe Secretary of the Treasury shall maintain in the unemployment trust fund established pursuant to an account to be known as the railroad unemployment insurance account. This account shall consist of (i) such part of all contributions collected pursuant to as is in excess of 0.65 per centum of the total compensation on which such contributions are based, together with all interest collected pursuant to section 358(g)  of this title; (ii) all amounts transferred or paid into the account pursuant to section 363 or ; (iii) all additional amounts appropriated to the account in accordance with any provision of this chapter or with any provision of law now or hereafter adopted; (iv) a proportionate part of the earnings of the unemployment trust fund, computed in accordance with the provisions of ; (v) all amounts realized in recoveries for overpayments or erroneous payments of benefits; (vi) all amounts transferred thereto pursuant to ; (vii) all fines or penalties collected pursuant to the provisions of this chapter; and (viii) all amounts credited thereto pursuant to section 352(f) or . Notwithstanding any other provision of law, all moneys credited to the account shall be mingled and undivided, and are permanently appropriated to the Board to be continuously available to the Board without further appropriation, for the payment of benefits and refunds under this chapter, and no part thereof shall lapse at any time, or be carried to the surplus fund or any other fund.

(b)

Payment of benefits or refunds

Provided, howeverAll moneys in the account shall be used solely for the payment of the benefits and refunds provided for by this chapter. The Board shall, from time to time, certify to the Secretary of the Treasury the name and address of each person or company entitled to receive benefits or a refund payment under this chapter, the amount of such payment, and the time at which it shall be made. Prior to audit or settlement by the Government Accountability Office, the Secretary of the Treasury, through the Fiscal Service of the Treasury Department, shall make payments from the account directly to such person or company of the amount of benefits or refund so certified by the Board: , That if the Board shall so request, the Secretary of the Treasury, through the Fiscal Service of the Treasury Department, shall transmit benefits payments to the Board for distribution by it through employment offices or in such other manner as the Board deems proper.

(c)

Annual report to Congress

The Board shall include in its annual report to Congress a statement with respect to the status and operation of the account.

(d)

Transfer and retransfer of funds; interest

section 358(a) of this titleWhenever the Board finds at any time that the balance in the railroad unemployment insurance account will be insufficient to pay the benefits and refunds which it estimates are due, or will become due, under this chapter, it shall request the Secretary of the Treasury to transfer from the Railroad Retirement Account to the credit of the railroad unemployment insurance account such moneys as the Board estimates would be necessary for the payment of such benefits and refunds, and the Secretary shall make such transfer. Whenever the Board finds that the balance in the railroad unemployment insurance account, without regard to the amounts transferred pursuant to the next preceding sentence, is sufficient to pay such benefits and refunds, it shall request the Secretary of the Treasury to retransfer from the railroad unemployment insurance account to the credit of the Railroad Retirement Account such moneys as in its judgment are not needed for the payment of such benefits and refunds, plus interest at a rate for each fiscal year equal to the average rate of interest borne by all special obligations held by the Railroad Retirement Account on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of 1 per centum, and the Secretary shall make such retransfer. In determining the balance in the railroad unemployment insurance account as of September 30 of any year pursuant to , any moneys transferred from the Railroad Retirement Account to the credit of the railroad unemployment insurance account which have not been retransferred as of such date from the latter account to the credit of the former, plus the interest accrued thereon to that date, shall be disregarded.

June 25, 1938, ch. 680, § 10 52 Stat. 1104 June 20, 1939, ch. 227, § 13 53 Stat. 848 54 Stat. 1231 June 23, 1948, ch. 608, § 7 62 Stat. 578 Pub. L. 86–2873 Stat. 32 Pub. L. 88–133, title III, § 30577 Stat. 223 Pub. L. 89–700, title II, § 20580 Stat. 1087 Pub. L. 90–257, title II, § 20582 Stat. 24 Pub. L. 93–445, title IV, § 40388 Stat. 1359 Pub. L. 94–92, title I, § 1(i)89 Stat. 464 Pub. L. 98–76, title III, § 30297 Stat. 432 Pub. L. 99–107, § 499 Stat. 479 Pub. L. 99–155, § 2(c)99 Stat. 814 Pub. L. 99–181, § 399 Stat. 1172 Pub. L. 99–189, § 399 Stat. 1184 Pub. L. 99–272, title XIII, § 13302100 Stat. 327 Pub. L. 100–647, title VII, § 7103(b)(1)102 Stat. 3770 Pub. L. 108–271, § 8(b)118 Stat. 814 ( (less (e)–(g)), ; , ; 1940 Reorg. Plan No. III, § 1(a)(1), eff. , 5 F.R. 2107, ; , ; , pt. III, § 308(a), , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , , .)

Editorial Notes

References in Text

Section 358(g) of this titlesection 358(j) of this titlePub. L. 100–647, title VII, § 7102(d)(1)102 Stat. 3769 , referred to in subsec. (a), was redesignated by , , .

act June 25, 1938, ch. 680 52 Stat. 1094 section 1107 of Title 42section 367 of this titleThis chapter, referred to in subsecs. (a), (b), and (d), was in the original “this Act”, meaning , , which enacted this chapter and amended sections 503 and 1104 and former , The Public Health and Welfare. For complete classification of this Act to the Code, see and Tables.

Codification

section 1104 of Title 42Section 10(e)–(g) of act , amended , The Public Health and Welfare.

Amendments

Pub. L. 108–2712004—Subsec. (b). substituted “Government Accountability Office” for “General Accounting Office”.

Pub. L. 100–6471988—Subsec. (a). substituted “0.65” for “0.5”.

Pub. L. 99–2721986—Subsec. (d). struck out at end “No transfer shall be made under this subsection from Railroad Retirement Account after , and no such transfer shall be made on or before , for purposes of paying benefits and refunds due after such date.”

Pub. L. 99–1891985—Subsec. (d). substituted “” for “” wherever appearing.

Pub. L. 99–181 substituted “” for “” wherever appearing.

Pub. L. 99–155 substituted “” for “” wherever appearing.

Pub. L. 99–107 substituted “” for “” wherever appearing.

Pub. L. 98–761983—Subsec. (d). inserted provisions that no transfer shall be made under this subsection from Railroad Retirement Account after , and no such transfer shall be made on or before , for purposes of paying benefits and refunds due after such date.

Pub. L. 94–92, § 1(i)(1)1975—Subsec. (a)(i). , substituted “0.5” for “0.25”.

Pub. L. 94–92, § 1(i)(2)section 403 of Pub. L. 93–445Subsec. (a)(ii). , struck out “and pursuant to subsection (h)[e] of this section”. Congress probably intended to strike out internal reference to subsec. (e) of this section in view of repeal of subsection by and it being last subsection of section.

Pub. L. 93–445Pub. L. 90–2571974—Subsec. (e). repealed subsec. (e) which was added by as subsec. (h) and redesignated (e) for purposes of codification, and which provided for annual adjustment of account and transfer of funds from Railroad Retirement Account.

Pub. L. 90–2571968—Subsec. (a)(ii). inserted reference to amounts transferred or paid into account pursuant to subsec. (e) of this section.

Pub. L. 90–257Subsec. (e). added subsec. (e) which was subsec. (h) in original and was redesignated (e) for purposes of codification.

Pub. L. 89–7001966—Subsec. (a). substituted “0.25 per centum” for “0.2 per centum”.

Pub. L. 88–1331963—Subsec. (d). substituted “a rate for each fiscal year equal to the average rate of interest borne by all special obligations held by the Railroad Retirement Account on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of 1 per centum” for “the rate of 3 per centum per annum.”

Pub. L. 86–281959—Subsec. (d). substituted provisions authorizing Board to request transfer and retransfer of funds for provisions which directed Secretary of the Treasury to advance not more than $25,000,000 for purpose of paying benefits.

1948—Subsec. (a)(i). Act , changed computation of insurance account.

1939—Subsec. (a). Act , substituted “(f)” for “(g)”.

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

Pub. L. 100–647section 7103(c) of Pub. L. 100–647section 358 of this titleAmendment by applicable with respect to compensation paid in months beginning after , see , set out as a note under .

Effective Date of 1975 Amendment

Pub. L. 94–92section 2 of Pub. L. 94–92section 351 of this titleAmendment by effective with respect to compensation paid for services rendered after ; and effective , respectively, see , set out as a note under .

Effective Date of 1974 Amendment

Pub. L. 93–445section 603 of Pub. L. 93–445section 402 of Title 42Amendment by effective , see , set out as a note under , The Public Health and Welfare.

Effective Date of 1963 Amendment

Pub. L. 88–133, title III, § 30577 Stat. 223 , , , provided that the amendment made by section 305 is effective after .

Effective Date of 1959 Amendment

Pub. L. 86–2873 Stat. 33

“The amendment made by this section [amending this section] shall take effect on the date of enactment of this Act [].”
, pt. III, § 308(b), , , provided that:

Executive Documents

Transfer of Functions

54 Stat. 1231 section 306 of Title 31“Fiscal Service” substituted for “Division of Disbursements” in two places in subsec. (b) on authority of section 1(a)(1) of Reorg. Plan No. III of 1940, eff. , 5 F.R. 2107, , set out in the Appendix to Title 5, Government Organization and Employees, which consolidated such division into Fiscal Service of Treasury Department. See , Money and Finance.