No way was 'Eggs' fulfilling his duties as the Genovese crime family Underboss. Way,way too old and anyway by all accounts he wasn't in good health.

He probably still had the official rank of Underboss but out of 'respect' and a way of deflecting police attention. Which is a Genovese family trait.

Probably out of crime business since he went INTO jail for 'windows' case.