September 22, 2014

UP seeks refunds of overpaid pension tax

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Union Pacific Corp. says in a court filing that it and employees overpaid federal railroad retirement taxes by $74.8 million, and that refunds are in order for both the company and workers. The Omaha-based freight railroad made its case in a civil complaint filed this week in U.S. District Court in Omaha. The complaint names [...]

RRB submits annual financial reports to Congress

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The Railroad Retirement Board (RRB) is required by law to submit annual financial 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 [...]

RRB announces additional pre-retirement seminars

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Additional locations have now been added to the U.S. Railroad Retirement Board’s (RRB) schedule of Pre-Retirement Seminars for railroad employees and their spouses. Designed for railroad employees and spouses planning to retire within five years or less, the seminars will familiarize attendees with the retirement benefits available to them, and also guide them through the [...]

Year begins July 1 for RRB unemployment benefits

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A new benefit year under the Railroad Unemployment Insurance Act begins July 1, 2014. The maximum daily benefit rate payable for claims under this Act increases to $70 in the new benefit year. Benefits are normally paid for the number of days of unemployment or sickness over four in 14-day registration periods, so maximum benefits [...]

RRB appeals procedures

Persons claiming retirement, disability, survivor, unemployment or sickness benefits from the Railroad Retirement Board (RRB) have the right to appeal unfavorable determinations on their claims.  The following questions and answers describe the appeals process for persons whose claims under the Railroad Retirement Act or Railroad Unemployment Insurance Act are denied, or who are dissatisfied with [...]

RRB issuing statements of service

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Each year, the U.S. Railroad Retirement Board (RRB) prepares a “Certificate of Service Months and Compensation” (Form BA-6) for every railroad employee who had creditable railroad compensation in the previous calendar year. The RRB will mail the forms to employees during the first half of June. While every effort has been made to maintain current [...]

Obama appoints new management member to RRB

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President Obama has appointed Steven J. Anthony to be the management member of the U.S. Railroad Retirement Board. His appointment was confirmed by the Senate on April 9, and he was sworn into office on May 8. Mr. Anthony’s term will expire in August 2018. Anthony succeeds Jerome F. Kever, who had served as the [...]

RRB annuitants: Laws about working after retirement

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Retirees, and those planning retirement, should be aware of the railroad retirement laws governing benefit payments to annuitants who work after retirement. The following questions and answers describe these railroad retirement work restrictions and earnings limitations on post-retirement employment, and how these rules can affect retirees engaging in self-employment. To protect the integrity of its [...]

RRB discusses Medicare for railroad families

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The federal Medicare program provides hospital and medical insurance protection for railroad retirement annuitants and their families, just as it does for social security beneficiaries. Medicare has the following parts: Medicare Part A (hospital insurance) helps pay for inpatient care in hospitals and skilled nursing facilities (following a hospital stay), some home health care services, [...]

RRB explains benefits under Railroad Retirement, SSA

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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 [...]