National Railroad Retirement Investment Trust

January 31, 2014

Mr. Jerome F. Kever
Management Member

USS. Railroad Retirement Board
844 North Rush Street

Chicago, IL 60611

Dear Mr. Kever:
Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001

requires the National Railroad Retirement Investment Trust to submit an annual management
report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,

The Board of Trustees

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George J. fr Lf

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Mary ce Jonés 0)

Enclosure
TRUSTEES:
Chair William F. Quinn George J. Francisco, Jr. Mary Sanders Jones Richard G. Patsy
Independent Trustee President Emeritus Vice President and Treasurer Assistant Vice President Pensions and
National Conference of Firemen and Union Pacific Corporation Investments:
Oilers - SEIU CSX Corporation
James A. Hixon Joel Parker William C. Walpert
Executive Vice President — Law and Special Assistant to the President & National Secretary Treasurer
Corporate Relations International Vice President Brotherhood of Locomotive Engineers and
Norfolk Southern Corporation ‘Transportation Communications ‘Trainmen

International Union (TCU/IAM)


National Railroad Retirement Investment Trust

January 31, 2014

Michael S. Schwartz

Chair

U.S. Railroad Retirement Board
844 North Rush Street

Chicago, IL 60611

Dear Mr. Chairman:

Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management
report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,

The Board of Trustees

William F. Quinn, CHair

LEAL (Aprecetn? i
George J Braticisxen,. Jr.

jo GN

Cans A. Hixon
af Pree

Mary S.Mones/ 0

| \ oe el ae

William C. Walpert td)

Enclosure

TRUSTEES: Richard G. Patsy

Chair William F. Quinn
Independent Trustee

George J. Francisco, Jr

President Emeritus

National Conference of Firemen and
Cilers - SEIU

James A. Hixon

Executive Vice President ~ Law and
Corporate Relations

Norfolk Southern Corporation

Mary Sanders Jones
Vice President and Treasurer
Union Pacific Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Assistant Vice President Pensions and
Investments:
CSX Corporation

William C. Walpert
National Secretary Treasurer

Brotherhood of Locomotive Engineers and
Trainmen


RRIT

National Railroad Retirement Investment Trust

January 31, 2014

Walter A. Barrows

Labor Member

USS. Railroad Retirement Board
844 North Rush Street

Chicago, IL 60611

Dear Mr. Barrows:

Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management
report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year

2013, October 1, 2012 to September 30, 2013.
Sincerely,

The Board of Trustees

Z Nerve teen
George A looe Jt.

ct A Nee

es A. Hixon

— Cpu

Marys, J opts

Enclosure

—_/\——————.

tae Patsy Bae
(thos hapt

Joel P;

William C. Walpert

TRUSTEES: .
Chair William F. Quinn ‘George J. Francisco, Jr.

Independent Trustee President Emeritus
National Conference of Firemen and

Oilers - SEIU

James A. Hixon

Executive Vice President — Law and
Corporate Relations

Norfolk Southern Corporation

Mary Sanders Jones
Vice President and Treasurer
Union Pacific Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Richard G. Patsy

Assistant Vice President Pensions and
Investments

CSX Corporation

William C, Walpert
National Secretary Treasurer

Brotherhood of J ocomotive Engineers and

Trainmen


NRRIT

National Railroad Retirement Investment Trust

January 31, 2014

The President

of the United States
The White House
Washington, DC 20500

Dear Mr. President:

Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management
report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,
The Board of Trustees
. "Le, WA
George J. pahciSco’ Jr. Richard GPatsy_ _—~[/
Yor A WE (hue?
fambs A. Hixon William C. ‘Wailpert
ct. J jin
Mary's. Jones /
Enclosure
Re sa, ita George J. Francisco, Jr. Mary Sanders Jones Richard G. Patsy

Independent Trustee

President Emeritus
National Conference of Firemen and
Oilers - SEIU

James A. Hixon

Executive Vice President ~ Law and
Corporate Relations

Norfolk Southern Corporation

Vice President and Treasurer
Union Pacific Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Assistant Vice President Pensions and
Investments
CSX Corporation

William C. Walpert
National Secretary Treasurer

Brotherhood of Locomotive Engineers and

Trainmen


NRRIT
National Railroad Retirement Investment Trust

January 31, 2014

The Honorable Sylvia Mathews Burwell
Director

Office of Management and Budget
Executive Office of the President

725 17th Street, NW

Washington, DC 20503

Dear Ms. Burwell:
Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management

report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,

The Board of Trustees

Mb su PB sane

be

vA Quinn. Ie.
A wh

George J Richdrd G. ad
—— A Nw (rd0e (pk

YG A. Hixon William C. Walpert |

Hog J 4p

Mary S. Yones/

Enclosure

TRUSTEES:
Chair William F. Quinn
Independent Trustee

George J. Francisco, Jr

President Emeritus

National Conference of Firemen and
Oilers - SEIU

James A. Hixon

Executive Vice President — Law and
Corporate Relations

Norfolk Southern Corporation

Mary Sanders Jones
Vice President and Treasurer
Union Pacifie Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Richard G. Patsy
Assistant Vice President Pensions and
Investments

CSX Corporation

William C. Walpert

National Secretary Treasurer

Brotherhood of Locomotive Engineers and
‘Trainmen


RRIT

National Railroad Retirement Investment Trust

January 31, 2014

The Honorable John A. Boehner
Speaker of the House of Representatives
Washington, DC 20515
Dear Mr. Speaker:
Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management

report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,

The Board of Trustees

Bed
mores

an C. Walpert

Alle, Fane

William F. Quinn, cc,

Aen Lene M bouw wh

George “ee ‘paricisco;
O Aapn

a a

Mary S\Jones)

Enclosure

TRUSTEES:

George J. Francisco, Jr. Mary Sanders Jones Richard G. Patsy

Chair William F, Quinn

Independent Trustee President Emeritus
Pe National Conference of Firemen and

Oilers - SEIU

James A. Hixon

Executive Vice President — Law and
Corporate Relations

Norfolk Southern Corporation

Vice President and Treasurer
Union Pacific Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Assistant Vice President Pensions and
Investments
CSX Corporation.

William C. Walpert

National Secretary Treasurer

Brotherhood of Locomotive Engineers and
‘Trainmen


NRRIT

National Railroad Retirement Investment Trust

January 31, 2014

The Honorable Joseph R. Biden, Jr.
President of the Senate

S-212 Capitol Building
Washington, DC 20510

Dear Mr. President:

Section 105 of the Railroad Retirement and Survivors’ Improvement Act of 2001
requires the National Railroad Retirement Investment Trust to submit an annual management
report on its operations and financial condition.

The enclosed report fulfills this statutory requirement for the Trust's fiscal year
2013, October 1, 2012 to September 30, 2013.

Sincerely,

The Board of Trustees

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Geek 7
C22 Sfetittau L

George Jr “rariGisco, Jr.

Nie A by

am¢s A. Hixon

fn. J Spe

Mary 8. Jonts

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Patsy |
fm (upd t—

William C. Walpert 0

Enclosure

TRUSTEES:
Chair William F, Quinn
Independent Trustee

George J. Francisco, Jr

President Emeritus

National Conference of Firemen and
Oilers - SEIU

James A. Hixon

Executive Vice President ~ Law and
Corporate Relations

Norfolk Southern Corporation

Mary Sanders Jones
Vice President and Treasurer
Union Pacific Corporation

Joel Parker

Special Assistant to the President &
International Vice President

‘Transportation Communications
International Union (TCU/IAM)

Richard G. Patsy

Assistant Vice President Pensions and
Investments

CSX Corporation

William C, Walpert

National Secretary Treasurer

Brotherhood of Locomotive Engineers and
Trainmen