National Railroad Retirement Investment Trust Releases Quarterly Update for April 2013
National Railroad Retirement Investment Trust (NRRIT) has released its quarterly update for the period ending March 31, 2013. Click here to view the update.
Category Archives: Railroad Retirement
Disability Annuities for Railroad Employees
A release from the Railroad Retirement Board (RRB) describes the disability annuities for railroaders who become totally or occupationally disabled. Medicare coverage before age 65 is also available for totally disabled employees and those suffering from ALS (Amyotrophic Lateral Sclerosis) or chronic kidney disease. Click here to read the questions and answers release that describes
RRB Sends Letter Stating Michigan Income Tax Code is in Conflict with the Railroad Retirement Act
A recent letter from the Railroad Retirement Board (RRB) to the Treasurer of Michigan, pointed out that the Michigan Income Tax code, that would tax railroad retirement benefits, is prohibited under federal statute. Michigan seeks to deny the deduction for individuals who are paid under the Railroad Retirement Act (RRA) effectively assessing a State tax
Budget Cuts Reduce Railroad Unemployment and Sickness Benefits
As a result of recently implemented budget cuts, the U.S. Railroad Retirement Board (RRB) must reduce railroad unemployment and sickness insurance benefits by 9.2 percent. These reductions stem from a sequestration order which President Obama filed on March 1, 2013, in accordance with the requirements of the Budget Control Act of 2011. The sequestration order sets
RRB Releases Q&A on Acting for Impaired Railroad Retirement Beneficiaries
According to Railroad Retirement Board (RRB) policy, every annuitant has the right to manage his or her own benefits. However, when physical or mental impairments make a railroad retirement annuitant incapable of properly handling benefit payments, or where the RRB determines that the interests of the annuitant so require, the agency can appoint a representative
National Railroad Retirement Investment Trust Releases Quarterly Update Ending December 31
The National Railroad Retirement Investment Trust (NRRIT) has released its quarterly update for the period ending December 31, 2012. Click here to view the update.
RRB Releases Update for the Customer Service Plan
The U.S. Railroad Retirement Board’s (RRB) 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. The plan states specifically
Railroad Retirement and Unemployment Insurance Taxes in 2013
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
Longevity of Railroad Retirement Beneficiaries
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
Medicare Part B Premiums Increase Slightly in 2013
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