December 20, 2014

Rail Retirement payroll tax set for 2011

Railroad Retirement payroll taxes will remain at 2010 levels in 2011, reports the Railroad Retirement Board. For Tier I, carriers and employees each will pay 6.20 percent on a maximum of $106,800 of wages. For Medicare, carriers and employees each will pay 1.45 percent on all wages. For Tier II, carriers will pay 12.10 percent [...]

UTUIA helps provide secure retirements

How long will you live after you retire, and will you have enough money to live on comfortably? Good question. That’s why – before you retire – you should think about post-retirement economic security, because few things could be worse than money running out during what are supposed to be carefree years. A balanced retirement [...]

UTU DIPP: Above all, ‘peace of mind’

By General Secretary & Treasurer Kim Thompson We are all familiar with employers imposing unwarranted discipline and even dismissal on employees. A member survey by the UTU’s Rail Safety Task Force revealed that more than 50 percent of train, engine and yard workers cite supervisor harassment and excessive operational testing as distracting them from situational [...]

UTU locals must file IRS Form 990

UTU locals that have not filed Form 990, Form 990EZ or Form 990-N with the Internal Revenue Service for the last three years have until Oct. 15, 2010, to file, or they will automatically lose their tax-exempt status. For additional information on which of three above forms a local is required to file, read the [...]

RRB benefits subject to age reductions

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, [...]

RRB sickness, jobless benefits update

A new benefit year for jobless and sickness benefits under the Railroad Unemployment Insurance Act begins July 1, 2010, the Railroad Retirement Board reports. Administered by the Railroad Retirement Board (RRB), this law provides two kinds of benefits for qualified railroaders: unemployment benefits for those who become unemployed but are ready, willing and able to [...]

RRB explains disability application process

Railroad workers should be aware that in addition to retirement annuities based on age and service, the Railroad Retirement Act also provides disability annuities for workers who become totally or occupationally disabled. Medicare coverage before age 65 is also available for totally disabled employees and those suffering from chronic kidney disease, according to the Railroad [...]

Retiring soon? Don’t be a fraud victim

 By UTU GS&T Kim Thompson A recent article on the UTU Web site, headlined “Ponzi Scheme Targets Retired L.A. Bus Drivers,” reminded me of the pitfalls that our members can face in having a secure retirement. It seems you can’t watch the evening news, open a newspaper, or visit the Internet without hearing about identity [...]

Interest-based bargaining key to success

By Retired GS&T Dan Johnson In the January issue of UTU News, the two-page centerfold summarized provisions of the Railway Labor Act. In the February issue, I explained how the Railway Labor Act is purposely designed to encourage both sides to reach a mutually acceptable solution that keeps the trains running. In the March issue, [...]

RRB celebrates 75th birthday

The 75th anniversary of the enactment of the Railroad Retirement Act of 1935 is being observed during 2010. Part of President Franklin Delano Roosevelt’s New Deal legislation, the Act was signed into law on August 29, 1935, the Railroad Retirement Board reports. It was in the rail industry that the first formal industrial pension plan [...]