Creates a Railroad Retirement Board Administrative Account that lets the Board pay for administering railroad retirement and unemployment benefits, with a technology fund for modernizing its benefit processing systems.

• Creates a Railroad Retirement Board Administrative Account for administering the Railroad Retirement Act and the Railroad Unemployment Insurance Act, and caps yearly transfers into it at the lesser of 1.25 percent of benefits paid (1.15 percent from fiscal year 2032 on) or 0.75 percent of the National Railroad Retirement Investment Trust, minus unobligated balances in the account.
• Sets up a Railroad Retirement Technology Fund within the account, with at least $10 million for fiscal year 2027 and $20 million for each of fiscal years 2028 through 2031, to modernize legacy benefit processing systems.
• Requires the Comptroller General to report on ways to modernize those systems, with a follow-up report due six months after the end of fiscal year 2031.
• Sets the premium due date for single employer pension plans for plan years beginning after December 31, 2035 and before January 1, 2037 to the fifteenth day of the ninth calendar month beginning on or after the first day of the premium payment year.

• Health, Education, Labor, and Pensions Committee (Senate)

Transportation and Public Works