Over the past year, an organization calling themselves the Rail Workers United (RWU) has distributed false information to TCU and other rail union members, advocating unaffordable benefit changes to Railroad Retirement that would bankrupt the Railroad Retirement Trust Fund. The RWU’s proposed changes would not benefit current retirees and only assist those seeking retirement in
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. Click here to
Railroad workers are covered under the Medicare program just like workers covered under social security. Railroad retirement payroll taxes include a Medicare hospital insurance tax just like social security payroll taxes. Even though you’re paying into the Medicare program during your working years, and will probably rely on its services in the future, you may
NRRIT has released the quarterly update for the period ending December 31, 2009. Click here to see the update.
RRB recently released questions and answers describing the tax statements issued each January for Federal income tax purposes. Railroad retirement beneficiaries needing more information about these statements, or about tax withholding from their benefits, should contact an office of the RRB. For further Federal income tax information, railroad retirement beneficiaries should contact the nearest office
The U.S. Railroad Retirement Board’s Customer Service Plan promotes the principles and objectives of customer-driven quality service agency-wide. The RRB’s plan lays out the standards and expresses the time frames in terms of when the agency is required to make its decision to pay or deny an application for benefits. Click here to view the
In a recent release from the RRB 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 unchanged in 2010. Railroad unemployment insurance tax rates paid by employers will continue to include a 1.5 percent surcharge
The ASCI survey, which focused on recently retired railroad workers who are receiving annuity payments from the RRB, found a result of 88 out of 100 demonstrating a very high level of satisfaction with the services being provided. Click here to view the announcement and results.
Look below for news from the Railroad Retirement Board. Click here for news about the National Railroad Retirement Investment Trust.
The Railroad Retirement Board (RRB) is required by law to submit annual financial reports to Congress on the financial condition of the railroad retirement system, as well as annual financial reports on the railroad unemployment insurance system. Click here to view the Q&A. Click here to visit the TCU NRRIT page.
