Most railroad retirement annuities are scheduled to increase in January 2012 on the basis of the rise in the Consumer Price Index (CPI) from the third quarter of 2008. Railroad retirement annuitants subject to earnings restrictions can earn more in 2012 without having their benefits reduced, as a result of increases in earnings limits indexed
The U.S. Senate confirmed Walter A. Barrows to serve as the Labor Member of the Railroad Retirement Board. Barrows currently serves as Secretary-Treasurer of the Brotherhood of Railroad Signalmen (BRS). President Barack Obama nominated Barrows for the RRB Labor Member position in March of 2011. Regarding Barrows and other nominees, President Obama said: “I am
The Railroad Retirement Board (RRB) announced the retirement of V.M. Speakman. V. M. Speakman Jr. was appointed Labor Member of the Board by President George H.W. Bush in 1992 upon the recommendation of the Railway Labor Executives’ Association (RLEA). The agency’s longest-serving Labor Member, he was reappointed to additional terms of office by President Clinton
The Railroad Retirement Board (RRB) is required by law to submit annual reports to Congress on the financial conditions of the railroad retirement system. Click here to view the Q&A released by the RRB. Click here to view the National Railroad Retirement Investment Trust page on the TCU website.
A new benefit year under the Railroad Unemployment Insurance Act begins July 1, 2011. Administered by the Railroad Retirement Board (RRB), this Act provides two kinds of benefits for qualified railroaders: unemployment benefits for those who become unemployed but are ready, willing and able to work; and sickness benefits for those who are unable to
The National Railroad Retirement Investment Trust (NRRIT) has released its quarterly update for the period ending March 31, 2011. Click here to view the update.
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
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.
