(a) Introduction. Under section 15(f) of the Railroad Retirement Act of 1974 (45 U.S.C. 231n(f)), the Board is directed to select two actuaries to serve on an Actuarial Advisory Committee. This section describes how the two actuaries are selected.

(b) Carrier actuary. One member of the Actuarial Advisory Committee shall be selected by recommendations made by “carrier representatives.” “Carrier representatives,” as used in this section, shall mean any organization formed jointly by the express companies, sleeping-car companies and carriers by railroad subject to the Interstate Commerce Act which own or control more than 50 percent of the total railroad mileage within the United States.

(c) Railway labor actuary. The other member of the Actuarial Advisory Committee to be selected by the Board shall be recommended by “representatives of employees.” “Representatives of employees,” as used in this section, shall mean any organization or body formed jointly by a majority of railway labor organizations organized in accordance with the provisions of the Railway Labor Act, as amended, or any individual or committee authorized by a majority of such railway labor organizations to make such recommendation.