A bill to amend the Regional Rail Reorganization Act of 1973 to provide a payment for certain protected employees to insure that such employees were not disadvantaged between April 1 and September 30, 1976, with respect to preretirement life and medical insurance benefits.

Amends the Regional Rail Reorganization Act of 1973 to direct the Consolidated Rail Corporation to pay specified employees a sum to insure that such employees were not disadvantaged by deprivation of employment between April 1 and September 30, 1976, with respect to pre-retirement life and medical insurance benefits.

Excludes such sum from the aggregate amount of paid-out benefits reimbursable by the Railroad Retirement Board.