Local treasurers should note that employees will continue to receive the benefit of reduced payroll taxes and access to extended unemployment benefits under legislation signed by President Barack Obama on Feb. 22. That law, the Middle Class Tax Relief and Job Creation Act of 2012, maintains a reduction in the social security payroll tax on [...]
Don’t let them fool you about Railroad Retirement
April 6, 2011
An opinion article recently published by the Financial Times and Fox News, written by conservative financial columnist Liz Peek, takes a nasty and incorrect swipe at Railroad Retirement, saying Railroad Retirement should be eliminated and folded into Social Security. The argument begins with a major falsehood — that Railroad Retirement is costing the American taxpayer. [...]
Rail Retirement payroll tax set for 2011
December 1, 2010
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 [...]
