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. [...]
Preserving Amtrak: A perennial effort
February 18, 2011
WASHINGTON — Since its creation four decades ago, Amtrak has perennially teetered on the edge of financial extinction, annually fighting down to the wire for minimal funds to keep it operating.This year is no exception. And while UTU member and retiree phone calls — along with tens of thousands of others from Amtrak supporters nationwide [...]
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 [...]
