November 25, 2015

No Railroad Retirement benefit increase in 2016


Railroad retirement annuities, like social security benefits, will not increase in January 2016 as there was no increase in the Consumer Price Index (CPI) from the third quarter of last year to the corresponding period of the current year. Also, because there is no cost-of-living adjustment (COLA), social security law prohibits an increase in the [...]

RRB explains benefits under Railroad Retirement, SSA


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 following questions and answers show the differences in railroad retirement [...]