Railroad Retirement Amendments Act of 1979

Railroad Retirement Amendments Act of 1979 - Title I: Railroad Retirement Act Amendments - Amends the Railroad Retirement Act of 1974 to exclude from the definition of "employer" under such Act: (1) trucking services which transport property before or after transportation by railroad if such trucking service is the only railroad related service performed by that company; and (2) companies which handle property transported by railroad if such a company is not principally engaged in such operations and services to the extent that such handling constitutes a separate and district enterprise of the company.

Removes from the definition of "compensation" contained in such Act any payment made to any nongovernmental plan for unemployment insurance, maternity insurance, or sickness insurance.

Stipulates that for purposes of collecting a supplemental annuity under such Act an individual shall not lose his "current connection with the railroad industry," if after completing 25 years of service, the individual involuntarily and without fault ceased rendering service as an employee under such Act. Revises additional eligibility criteria for receiving such an annuity.

Increases the annuity payable to spouses under such Act for spouses between the ages of 62 and 65.

Revises the formula for computing employee annuities under such Act.

Stipulates that employee annuities and spouses annuities under such Act shall be increased by the same amount that old-age and survivors insurance benefits are increased.

Requires the Commissioner of Internal Revenue, upon request, to supply the Railroad Retirement Board with any information in the Internal Revenue Service's possession which is relevant to a determination whether an individual is an "employer" within the meaning of the Railroad Retirement Tax Act.

Revises the procedures for transferring funds between the Railroad Retirement Account and the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, or the Federal Hospital Insurance Trust Fund. Stipulates that such transfers are to be made on a monthly basis.

Revises the formula for computing the authorization of appropriations for the Railroad Retirement Account.

Stipulates that if the balance in such account is insufficient to meet its obligations, the Secretary of the Treasury shall transfer any necessary funds from the general fund of the Treasury to such account. Provides for the retransfer of such funds back to the Treasury if the account is operating at a surplus.

Title II: Amendments of Internal Revenue Code of 1954 - Amends the Internal Revenue Code of 1954 with respect to the method of deducting taxes imposed under the Railroad Retirement Tax Act from an employee's compensation.

Provides for an increase in the excise tax on employers imposed under such Act to be determined by the account balance-benefit ratio of the Railroad Retirement Account.

Title III: Conforming Amendments - Amends the Railroad Unemployment Insurance Act and the Social Security Act to conform with the provisions of this Act.