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Tag: railroad benefits

Railroad Retirement Benefits vs. Social Security Benefits

Back in the 1930s, there was a growing worry that the current pension programs were insufficient to provide retired railroad workers with the necessary support. Especially when they became older and unable to work. To address this concern, Congress set up a national railroad retirement system. If you are a retired railroad worker, you know your benefits differ from Social Security’s. Although both programs share some similarities, there are some notable differences in funding and benefit structure. Keep reading as we highlight some critical areas where these two retirement programs differ. 

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 Benefits of NARVRE

If you are a railroad veteran, current railroad employee, or retired from the railroad, you should consider joining NARVRE if you are not yet a member. NARVRE is the National Association of Retired and Veteran Railway Employees. NARVRE is essentially your gateway to Washington D.C. The legislative offices of NARVRE work closely with the Railroad Retirement Board ensuring that your benefits stay intact among many other legislative appropriations, including upgrading computerization. Once the computerization is upgraded, we will be more assured that our information is protected, and our field offices are adequately staffed. 

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Meet NARVRE’S New National President 

We are proud to announce our newly elected National President, George Boatwright. Mr. Boatwright began his 32-year railroad career in Jacksonville, Florida, on the Seaboard Coast Line railroad in 1977. Eight years later, he was hired by Amtrak for Auto Train Service as a Locomotive Engineer. During this time, he served on the safety committee and as a Vice Local Chairman of the BLE&T Southeast Regional Meeting in Orlando, Florida. 

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Looking to Work for the Railroad?

Railroad Employment

Have you been offered a job with the railroad? Did a friend help you get the job? If so, you owe that friend a big steak dinner. Welcome to the club! The railroad is one of the best places to work in the United States, especially concerning your retirement. The railroad has one of the best retirements plans available for retiree’s and NARVRE or the National Association of Retired and Veteran Railroad Employees see to it that the railroad retirement benefits never change. NARVRE was established over 80 years ago, and its bylaws are still preserved to this day. According to RRB or Railroad Retirement Board, here are just a few benefits associated with their railroad employment and retirement benefits:

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RRB Annuity and Medicare Part B 2022 Increases

If you have been following the Railroad Retirement Board website (rrb.gov) or even the news, then you are aware of the upcoming increase in your retirement wage. Your Cost-of-Living part of your annuities will see a rise in January 2022. 

Garey Faley sent a message recently explaining the facts behind the increase he says, “The Cost-of-Living increases are calculated in both Tier 1 and Tier 2 benefits included in your railroad retirement annuity. The Tier 1 benefits such as Social Security benefits, will increase by 5.9 % which equals the percentage of the CPI rise. 

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