September 20, 2014

RRB announces pre-retirement seminars

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Railroad employees and their spouses closing in on retirement will be able to learn the latest benefit information and application requirements as part of a new program announced by Labor Member of the U.S. Railroad Retirement Board Walter A. Barrows. Designed for railroad employees and spouses planning to retire within five years, the new Pre-Retirement [...]

RRB: Compensation subject to tax to increase in 2014

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The amounts of compensation subject to railroad retirement tier I and tier II payroll taxes will increase in 2014, while the tier I and tier II tax rates will remain the same on both railroad employers and employees, the Railroad Retirement Board announced. Also, railroad unemployment insurance contribution rates paid by employers will not include [...]

RRB explains dual benefit payments

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The payment of a railroad retirement annuity can be affected by entitlement to social security benefits, as well as certain other government benefits. Such dual entitlement, if not reported to the Railroad Retirement Board (RRB), can result in benefit overpayments that have to be repaid, sometimes with interest and penalties. The following questions and answers [...]

SSA, RRB benefits to rise by only 1.5 percent

WASHINGTON – Social Security benefits for nearly 58 million people will increase by 1.5 percent next year, the government announced Wednesday. The increase is among the smallest since automatic adjustments were adopted in 1975. It is small because consumer prices haven’t gone up much in the past year. Read the complete story at the Associated [...]

Importance of a current connection for RRB benefits

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Under the Railroad Retirement Act, a “current connection” with the railroad industry is one of the eligibility requirements for occupational disability annuities and supplemental annuities, and is one of the factors that determine whether the Railroad Retirement Board or the Social Security Administration has jurisdiction over the payment of monthly benefits to survivors of a [...]

RRB offices remain open, conferences canceled

The U.S. Railroad Retirement Board (RRB) has announced that during the lapse in federal funding for certain government operations which began Oct. 1, ongoing benefit payments will continue and all RRB offices are expected to remain open. RRB field offices, operating with reduced staffs, may also accept new claims for unemployment and sickness benefits, but [...]

RRB unemployment, sickness benefits to increase

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Beginning Oct. 1, 2013, the U.S. Railroad Retirement Board (RRB) will reduce railroad unemployment and sickness insurance benefits by 7.2 percent due to federal budget cuts first implemented in March 2013. The original reduction had been 9.2 percent since March. The adjusted reduction amount is based on revised projections of benefit claims and payments under [...]

Anthony nominated as RRB management member

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President Barack Obama Sept. 24 nominated Steven Anthony as the management member of the U.S. Railroad Retirement Board, replacing Jerome F. Kever, whose term is expiring. Anthony’s appointment will require Senate confirmation. Anthony most recently served as senior general counsel and secretary for the Norfolk Southern Corporation from 2007 to 2012. Previously, he was a [...]

RRB benefit reductions by retirement age

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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 issues financial report

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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 [...]