Railroad retirement benefits are subject to reduction if an employee with less than 30 years of service retires before attaining full retirement age. While employees with less than 30 years of service may still retire at age 62, the age at which full retirement benefits are payable has been gradually increasing since the year 2000,
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 had creditable railroad compensation in the previous calendar year. The RRB will mail the forms to employees during the first half of June. While every effort has been made to maintain current addresses
The U.S. Railroad Retirement Board (RRB) will send new Medicare cards to its beneficiaries in the coming weeks. The primary benefit of the new cards is that it makes identity theft much less likely, since they will no longer include the beneficiary’s social security number. This initiative results from the Medicare Access and CHIP Reauthorization
Employers and employees covered by the Railroad Retirement Act pay higher retirement taxes than those covered by the Social Security Act, so that railroad retirement benefits remain higher than social security benefits, especially for career employees who have 30 or more years of service. The Railroad Retirement Board (RRB) has released a questions and answers
Today, Illinois Democrat Dan Lipinski joined with Nebraska Republican Don Bacon to lead a letter supporting additional funding to the Railroad Retirement Board (RRB). The letter had broad bipartisan support from their colleagues in Congress, including 12 Republicans and 23 Democrats. Click HERE to view read the Lipinski-Bacon letter Once secured, this funding will be
Certain portions of a railroad retirement annuity are treated differently for Federal income tax purposes. A recent release from the Railroad Retirement Board (RRB) explains these differences and address the importance of individuals establishing accurate tax withholding from their annuities. Certain beneficiaries, including those retiring at age 60 with at least 30 years of service,
Most railroad retirement annuities, like social security benefits, are scheduled to increase in January 2018 on the basis of the rise in the Consumer Price Index (CPI) from the third quarter of 2016 to the corresponding period of the current year. Cost-of-living increases are calculated in both the tier I and tier II benefits included
The Association of American Railroads (AAR) joined together with TTD’s Rail Labor Division (which includes TCU) in supporting increased funding for the Railroad Retirement Board (RRB). The letter was addressed to Chairman Roy Blunt and Ranking Member Patty Murray of the Senate’s Labor HHS Appropriations Subcommittee. The RRB has been woefully underfunded for years. This has
Beginning October 1, 2017, the U.S. Railroad Retirement Board (RRB) will reduce railroad unemployment and sickness insurance benefits by 6.6 percent, down from the current 6.9 percent reduction, as required by law. The adjusted reduction amount is based on revised projections of benefit claims and payments under the Railroad Unemployment Insurance Act. It will remain
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
