IVP Parker Chosen

IVP Parker Chosen to Continue Leading the Rail Retirement Investment Trust

10/27/04 – TCU International Vice President Joel M. Parker was returned by unanimous agreement of rail labor leaders on October 21 to serve his second term as a Trustee of the National Railroad Retirement Investment Trust.

Parker’s second term will begin effective February 1, 2005 and will run for three years. During his first three year term he was unanimously elected by the other Trustees as Chairman for the years 2002 and 2004.

The Trust, created by the 2001 landmark railroad retirement improvements legislation as the tier II retirement investment arm, has produced remarkable results in a very short time: the fund now has grown to such an extent that over six years of benefits have been amassed. This growth assures strength and security of the fund and also will mean a one-half percent tax cut for railroad members on their tier 2 contributions starting this January.

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