October 26, 2014

Rail Retirement benefits frozen for 2011

The Railroad Retirement Board has confirmed for rail workers what the Social Security Administration already has told Social Security recipients: There will be no increase in benefits in 2011. The reason is there was no increase in the Consumer Price Index (CPI) from the third quarter of 2009 to the corresponding period of the current [...]

RRB acts for impaired beneficiaries

The Railroad Retirement Board’s policy is that 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 Railroad Retirement Board (RRB) determines that the interests of the annuitant so require, the RRB can [...]

Rail Retirement finances remain strong

The Railroad Retirement Board (RRB) is required by law to submit annual reports to Congress on the financial condition of the railroad retirement system and the railroad unemployment insurance system. These reports must also include recommendations for any financing changes which may be advisable in order to ensure the solvency of the systems. In June, [...]

Proposal mandates electronic RRB checks

Paper checks may be a thing of the past for U.S. Railroad Retirement Board (RRB) beneficiaries who still receive them, under a recent initiative announced by the Department of the Treasury, according to the Railroad Retirement Board. One part of the Treasury initiative would eliminate the vast majority of paper checks for federal benefit payments [...]

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 [...]

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 [...]

RRB fesses up on customer service

The following questions and answers discuss the Railroad Retirement Board’s performance in the key areas of retirement applications, survivor applications, disability applications and payments, and railroad unemployment and sickness benefit applications and claims during fiscal year 2009 (October 1, 2008 – September 30, 2009). Included are the customer service performance goals the RRB set for [...]