This is the determination of
the Railroad Retirement Board concerning the continuing status of
Gettysburg Railway Company, Inc. (GRC) (BA No. 2380) as an employer under
the Railroad Retirement Act (45 U.S.C. § 231, et seq.) (RRA) and the
Railroad Unemployment Insurance Act (45 U.S.C. § 351, et seq.) (RUIA). GRC
was ruled to be an employer under the Acts effective November 1, 1997.
By letter dated September 21, 2001, Mr. John H. Marino, Secretary of GRC,
reported that, on February 21, 2001, GRC ceased its operations and sold
all of its tangible assets and personal property to the Gettysburg and
Northern Railroad Company (GNR), an Iowa Corporation, and that
certain payments to GRC employees were continued through February 28,
2001. Authority for GNR to acquire and operate GRC is set forth in
Surface Transportation Board Finance Docket No. 34011. GRC is to dissolve
as a corporation.
Based on the foregoing facts, it is the determination of the Board that
Gettysburg Railway Company, Inc. ceased to be an employer covered under
the RRA and RUIA effective February 28, 2001, the last day on which its
employees were compensated. |
