The amounts of compensation subject to railroad retirement tier I and tier II payroll taxes will increase in 2013. The tier I tax rates will remain the same on railroad employers, while railroad employees will see their effective tier I rate increase from 5.65 percent to 7.65 percent. The tier II tax rate on both
Every three years, the Railroad Retirement Board’s (RRB) Chief Actuary conducts a study of the longevity of its annuitants, as part of a valuation of future revenues and benefit payments. The RRB has released questions and answers that summarizes the results of the most recent longevity study. Click here to read the full release from
The standard Medicare Part B monthly premium will be $104.90 in January 2013, an increase of $5.00 from the 2012 amount of $99.90. Some beneficiaries will continue to pay higher premiums based on their modified adjusted gross income. The monthly premiums that include income-related adjustments for 2013 will be $146.90, $209.80, $272.70, or $335.70, depending
Monthly benefits may be payable under the Railroad Retirement Act to the surviving widow(er), children, and certain other dependents of a railroad employee if the employee was “insured” under that Act at the time of death. Lump-sum death benefits may also be payable to qualified survivors in some cases. Click here to view the full
The National Railroad Retirement Investment Trust (NRRIT) has released its quarterly update for the period ending September 30, 2012 . Click here to view the update.
Most railroad retirement annuities, like social security benefits, are scheduled to increase in January 2013 on the basis of the rise in the Consumer Price Index (CPI) from the third quarter of 2011 to the corresponding period of the current year. Cost-of-living increases are calculated in both the tier I and tier II benefits included
Many railroad employees have at some time served in the Armed Forces of the United States. Under certain conditions, their military service may be credited as rail service under the Railroad Retirement Act. Click here to read the Q&A release from the RRB.
The National Railroad Retirement Investment Trust (NRRIT) has released its quarterly update for the period ending June 30, 2012. Click here to view the update.
The U.S. Railroad Retirement Board (RRB) earned a score of 81 in a recent American Customer Satisfaction Index (ACSI) survey of individuals who applied for and received unemployment or sickness benefits from the agency. This is an increase of 6 points from the previous survey of this customer group in 2002, and almost 15 points
The Railroad Retirement Board (RRB) has improved their website and implemented a nationwide toll-free number, 1-877-772-5772. The number allows direct communication with a representative in a field office. The website and number are available 24 hours a day 7 days a week. Click here to read the Q&A about these features released from the RRB.
