The Railroad Retirement Board (RRB) has adjusted the railroad retirement benefits of over 140,000 beneficiaries to apply new Federal income tax withholding rates. The Internal Revenue Service (IRS) revised the income tax withholding rates and tables that are used to calculate Federal income taxes for United States citizens based on provisions of the Tax Relief,
The amounts of compensation subject to railroad retirement tier I and tier II payroll taxes and the tier I and tier II tax rates on employees and employers remain the same in 2011. Railroad unemployment insurance tax rates paid by employers will include a 2.5 percent surcharge in 2011. Click here to read the full
NRRIT has released the quarterly update for the period ending September 30, 2010. Click here to view the update.
Railroad retirement annuities will not increase in January 2011 as there was no increase in the Consumer Price Index (CPI) from the third quarter of last year to the corresponding period this year. Because there is no cost-of-living adjustment (COLA), social security law prohibits an increase in the amounts social security and railroad retirement beneficiaries
The leaders of America’s national railway labor organizations sent a letter to President Barak Obama in support of Walter A. Barrows, the Secretary-Treasurer of the Brotherhood of Railroad Signalmen, to be nominated to fill the remainder of Mr. Speakman’s term as Labor Member of the Railroad Retirement Board, which will expire August 29, 2014. Click
Questions and answers for the RRB financial reports and Military service credit under the Railroad Retirement Act were recently released by the RRB. Click here to view the Q&A on the RRB Financial Reports. Click here to view the military credit Q&A.
House resolution 1463 was recently introduced in the U.S. House of Representatives to support the goals and ideals of Railroad Retirement Day. August 29, 2010 has been designated as Railroad Retirement Day by the Railroad Retirement Board. The House wishes all the people in the United States to celebrate the importance of the railroad retirement
Each year, the U.S. Railroad Retirement Board (RRB) prepares a “Certificate of Service Months and Compensation” (Form BA-6) for every railroad employee who received creditable railroad compensation in the previous calendar year. The forms will be mailed to employees by the RRB during the first half of June. While every effort has been made to
NRRIT has released the quarterly update for the period ending March 31, 2010. Click here to see the update.
During 2010, the U.S. Railroad Retirement Board (RRB) will observe the 75th Anniversary of the enactment of the Railroad Retirement Act of 1935. Part of President Franklin Roosevelt’s New Deal legislation, the Act was signed into law on August 29, 1935, and the RRB made its first annuity payments 11 months later. The first formal
