A bill to ensure that certain Railroad Retirement benefits paid out of the Dual Benefits Payments Account are not reduced, and for other purposes.

States that the payment of certain annuities under the Railroad Retirement Act of 1974 and the appropriation of funds to the Dual Benefits Payments Account shall: (1) be considered a mandatory Federal obligation (rather than a discretionary activity); (2) not be subject to sequestration or reduction under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act); and (3) have the same status for Federal budgetary and accounting purposes as benefits paid under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act (thus ensuring that certain railroad retirement benefits paid out of the Dual Benefits Payments Account are not reduced).

Appropriates funds to the Dual Benefits Payments Account for FY 1988.