1. A brief history of railroad retirement programs : Nationalizing railroad retirement ; Background for reform: the 1980s watershed -- 2. The appeal of equity investment : The appeal of privatization ; Courting labor ; Negotiating reform -- 3. The Railroad Retirement and Survivors' Improvement Act of 2001 : Inside the Beltway ; Meeting the challenge: budgetary accounting ; Meeting the challenge: financial and political risks in equity investment ; Enactment -- 4. An assessment to date of the reformed railroad retirement program : Creating the governance structure ; Investment governance to date ; The performance of railroad retirement ratchet ; An assessment to date -- 5. The reform's effect on workers and carriers : Workers and the 2001 reform ; The carriers and 2001 reform ; The carriers and the 2001 reform going forward ; The future -- 6. Lessons for social security : Government accounting ; Governing the investment process ; Dealing with risk.
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