---
kind: "section"
citation: "45 U.S.C. § 360"
title: "45"
title_heading: "Railroads"
number: "360"
heading: "Railroad unemployment insurance account"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/45/360"
units:
  - "Chapter 11 — Railroad Unemployment Insurance"
---

# §360. Railroad unemployment insurance account

- (a) **Funds constituting account; availability for benefits or refunds—** The [Secretary](/usc/45/1104.md?p=7) of the Treasury shall maintain in the [unemployment trust fund](/usc/45/363a.md?p=b-2) established pursuant to [section 1104 of title 42](/usc/42/1104.md) an [account](/usc/45/351.md?p=p) to be known as the railroad unemployment insurance [account](/usc/45/351.md?p=p). This [account](/usc/45/351.md?p=p) shall consist of (i) such part of all contributions collected pursuant to [section 358 of this title](/usc/45/358.md) as is in excess of 0.65 per centum of the total [compensation](/usc/45/351.md?p=i-1) on which such contributions are based, together with all interest collected pursuant to [section 358(g)](/usc/45/358.md?p=g)[^1] of this title; (ii) all amounts transferred or paid into the [account](/usc/45/351.md?p=p) pursuant to [section 363](/usc/45/363.md) or [section 364 of this title](/usc/45/364.md); (iii) all additional amounts appropriated to the [account](/usc/45/351.md?p=p) 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](/usc/45/363a.md?p=b-2), computed in accordance with the provisions of [section 1104(e) of title 42](/usc/42/1104.md?p=e); (v) all amounts realized in recoveries for overpayments or erroneous payments of [benefits](/usc/45/351.md?p=l-1); (vi) all amounts transferred thereto pursuant to [section 361 of this title](/usc/45/361.md); (vii) all fines or penalties collected pursuant to the provisions of this chapter; and (viii) all amounts credited thereto pursuant to [section 352(f)](/usc/45/352.md?p=f) or [section 362(g) of this title](/usc/45/362.md?p=g). Notwithstanding any other provision of law, all moneys credited to the [account](/usc/45/351.md?p=p) shall be mingled and undivided, and are permanently appropriated to the [Board](/usc/45/351.md?p=r) to be continuously available to the [Board](/usc/45/351.md?p=r) without further appropriation, for the payment of [benefits](/usc/45/351.md?p=l-1) and refunds under this chapter, and no part thereof shall lapse at any time, or be carried to the surplus [fund](/usc/45/351.md?p=q) or any other [fund](/usc/45/351.md?p=q).
- (b) **Payment of benefits or refunds—** All moneys in the [account](/usc/45/351.md?p=p) shall be used solely for the payment of the [benefits](/usc/45/351.md?p=l-1) and refunds provided for by this chapter. The [Board](/usc/45/351.md?p=r) shall, from time to time, certify to the [Secretary](/usc/45/1104.md?p=7) of the Treasury the name and address of each person or [company](/usc/45/351.md?p=c) entitled to receive [benefits](/usc/45/351.md?p=l-1) 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](/usc/45/1104.md?p=7) of the Treasury, through the Fiscal Service of the Treasury Department, shall make payments from the [account](/usc/45/351.md?p=p) directly to such person or [company](/usc/45/351.md?p=c) of the amount of [benefits](/usc/45/351.md?p=l-1) or refund so certified by the [Board](/usc/45/351.md?p=r): Provided, however, That if the [Board](/usc/45/351.md?p=r) shall so request, the [Secretary](/usc/45/1104.md?p=7) of the Treasury, through the Fiscal Service of the Treasury Department, shall transmit [benefits](/usc/45/351.md?p=l-1) payments to the [Board](/usc/45/351.md?p=r) for distribution by it through [employment offices](/usc/45/351.md?p=o) or in such other manner as the [Board](/usc/45/351.md?p=r) deems proper.
- (c) **Annual report to Congress—** The [Board](/usc/45/351.md?p=r) shall include in its annual report to Congress a statement with respect to the status and operation of the [account](/usc/45/351.md?p=p).
- (d) **Transfer and retransfer of funds; interest—** Whenever the [Board](/usc/45/351.md?p=r) finds at any time that the balance in the railroad unemployment insurance [account](/usc/45/351.md?p=p) will be insufficient to pay the [benefits](/usc/45/351.md?p=l-1) and refunds which it estimates are due, or will become due, under this chapter, it shall request the [Secretary](/usc/45/1104.md?p=7) of the Treasury to transfer from the Railroad Retirement [Account](/usc/45/351.md?p=p) to the credit of the railroad unemployment insurance [account](/usc/45/351.md?p=p) such moneys as the [Board](/usc/45/351.md?p=r) estimates would be necessary for the payment of such [benefits](/usc/45/351.md?p=l-1) and refunds, and the [Secretary](/usc/45/1104.md?p=7) shall make such transfer. Whenever the [Board](/usc/45/351.md?p=r) finds that the balance in the railroad unemployment insurance [account](/usc/45/351.md?p=p), without regard to the amounts transferred pursuant to the next preceding sentence, is sufficient to pay such [benefits](/usc/45/351.md?p=l-1) and refunds, it shall request the [Secretary](/usc/45/1104.md?p=7) of the Treasury to retransfer from the railroad unemployment insurance [account](/usc/45/351.md?p=p) to the credit of the Railroad Retirement [Account](/usc/45/351.md?p=p) such moneys as in its judgment are not needed for the payment of such [benefits](/usc/45/351.md?p=l-1) 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](/usc/45/351.md?p=p) on the last day of the preceding fiscal year, rounded to the nearest multiple of one-eighth of 1 per centum, and the [Secretary](/usc/45/1104.md?p=7) shall make such retransfer. In determining the balance in the railroad unemployment insurance [account](/usc/45/351.md?p=p) as of September 30 of any year pursuant to [section 358(a) of this title](/usc/45/358.md?p=a), any moneys transferred from the Railroad Retirement [Account](/usc/45/351.md?p=p) to the credit of the railroad unemployment insurance [account](/usc/45/351.md?p=p) which have not been retransferred as of such date from the latter [account](/usc/45/351.md?p=p) to the credit of the former, plus the interest accrued thereon to that date, shall be disregarded.

## Footnotes

[^1]: See References in Text note below.

## Source credit

(June 25, 1938, ch. 680, § 10 (less (e)–(g)), 52 Stat. 1104; June 20, 1939, ch. 227, § 13, 53 Stat. 848; 1940 Reorg. Plan No. III, § 1(a)(1), eff. June 30, 1940, 5 F.R. 2107, 54 Stat. 1231; June 23, 1948, ch. 608, § 7, 62 Stat. 578; Pub. L. 86–28, pt. III, § 308(a), May 19, 1959, 73 Stat. 32; Pub. L. 88–133, title III, § 305, Oct. 5, 1963, 77 Stat. 223; Pub. L. 89–700, title II, § 205, Oct. 30, 1966, 80 Stat. 1087; Pub. L. 90–257, title II, § 205, Feb. 15, 1968, 82 Stat. 24; Pub. L. 93–445, title IV, § 403, Oct. 16, 1974, 88 Stat. 1359; Pub. L. 94–92, title I, § 1(i), Aug. 9, 1975, 89 Stat. 464; Pub. L. 98–76, title III, § 302, Aug. 12, 1983, 97 Stat. 432; Pub. L. 99–107, § 4, Sept. 30, 1985, 99 Stat. 479; Pub. L. 99–155, § 2(c), Nov. 14, 1985, 99 Stat. 814; Pub. L. 99–181, § 3, Dec. 13, 1985, 99 Stat. 1172; Pub. L. 99–189, § 3, Dec. 18, 1985, 99 Stat. 1184; Pub. L. 99–272, title XIII, § 13302, Apr. 7, 1986, 100 Stat. 327; Pub. L. 100–647, title VII, § 7103(b)(1), Nov. 10, 1988, 102 Stat. 3770; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814.)

## Notes

### Editorial Notes

### References in Text

Section 358(g) of this title, referred to in subsec. (a), was redesignated section 358(j) of this title by Pub. L. 100–647, title VII, § 7102(d)(1), Nov. 10, 1988, 102 Stat. 3769.

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

### Codification

Section 10(e)–(g) of act June 25, 1938, amended section 1104 of Title 42, The Public Health and Welfare.

### Amendments

2004—Subsec. (b). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

1988—Subsec. (a). Pub. L. 100–647 substituted “0.65” for “0.5”.

1986—Subsec. (d). Pub. L. 99–272 struck out at end “No transfer shall be made under this subsection from Railroad Retirement Account after December 19, 1985, and no such transfer shall be made on or before December 19, 1985, for purposes of paying benefits and refunds due after such date.”

1985—Subsec. (d). Pub. L. 99–189 substituted “December 19, 1985” for “December 18, 1985” wherever appearing.

Pub. L. 99–181 substituted “December 18, 1985” for “December 14, 1985” wherever appearing.

Pub. L. 99–155 substituted “December 14, 1985” for “November 14, 1985” wherever appearing.

Pub. L. 99–107 substituted “November 14, 1985” for “September 30, 1985” wherever appearing.

1983—Subsec. (d). Pub. L. 98–76 inserted provisions that no transfer shall be made under this subsection from Railroad Retirement Account after September 30, 1985, and no such transfer shall be made on or before September 30, 1985, for purposes of paying benefits and refunds due after such date.

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

Subsec. (a)(ii). Pub. L. 94–92, § 1(i)(2), 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 section 403 of Pub. L. 93–445 and it being last subsection of section.

1974—Subsec. (e). Pub. L. 93–445 repealed subsec. (e) which was added by Pub. L. 90–257 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.

1968—Subsec. (a)(ii). Pub. L. 90–257 inserted reference to amounts transferred or paid into account pursuant to subsec. (e) of this section.

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

1966—Subsec. (a). Pub. L. 89–700 substituted “0.25 per centum” for “0.2 per centum”.

1963—Subsec. (d). Pub. L. 88–133 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.”

1959—Subsec. (d). Pub. L. 86–28 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 June 23, 1948, changed computation of insurance account.

1939—Subsec. (a). Act June 20, 1939, substituted “(f)” for “(g)”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 1988 Amendment

Amendment by Pub. L. 100–647 applicable with respect to compensation paid in months beginning after Sept. 30, 1988, see section 7103(c) of Pub. L. 100–647, set out as a note under section 358 of this title.

### Effective Date of 1975 Amendment

Amendment by Pub. L. 94–92 effective with respect to compensation paid for services rendered after Dec. 31, 1975; and effective Aug. 9, 1975, respectively, see section 2 of Pub. L. 94–92, set out as a note under section 351 of this title.

### Effective Date of 1974 Amendment

Amendment by Pub. L. 93–445 effective Jan. 1, 1975, see section 603 of Pub. L. 93–445, set out as a note under section 402 of Title 42, The Public Health and Welfare.

### Effective Date of 1963 Amendment

Pub. L. 88–133, title III, § 305, Oct. 5, 1963, 77 Stat. 223, provided that the amendment made by section 305 is effective after June 30, 1964.

### Effective Date of 1959 Amendment

Pub. L. 86–28, pt. III, § 308(b), May 19, 1959, 73 Stat. 33, provided that: “The amendment made by this section [amending this section] shall take effect on the date of enactment of this Act [May 19, 1959].”

### Executive Documents

### Transfer of Functions

“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. June 30, 1940, 5 F.R. 2107, 54 Stat. 1231, set out in the Appendix to Title 5, Government Organization and Employees, which consolidated such division into Fiscal Service of Treasury Department. See section 306 of Title 31, Money and Finance.