S. 4965, the Railroad Retirement Board Stability Act of 2026, advanced out of committee on July 30, 2026.
S. 4965 — Railroad Retirement Board Stability Act of 2026
What it does
This bill creates a dedicated administrative account within the Treasury for the Railroad Retirement Board to manage its operating expenses, funded by transfers from existing railroad retirement and unemployment insurance accounts. It caps annual transfers at 1.25% of total benefits paid (or 0.75% of trust assets, whichever is lower) through 2031, then reduces the cap to 1.15% thereafter, and mandates at least $10–20 million annually through 2032 for modernizing the Board's outdated computer systems.
Quorum's transparency scan gave Railroad Retirement Board Stability Act of 2026 a moderate transparency flag — and flagged a rider.
What happens next
S. 4965 advanced out of committee. Next stop: a floor vote.
Who is behind it
Filed by Bill Cassidy. Cosponsored by Bernie Sanders, Jim Banks and Tim Kaine.