Tag: railroad retirement benefits

Railroad Retirement Benefits vs. Social Security Benefits

Written by NARVRE. Posted in Alerts and News.

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.

Joint Letter on FY24 RRB Funding

Written by NARVRE. Posted in Alerts and News.

NARVRE Members:

Are You Financially Prepared for Retirement?

Written by NARVRE. Posted in Alerts and News.

Most of us have been looking forward to the day we can finally enjoy retirement. However, before you decide to retire, it is essential that you are financially ready to retire. Ask yourself these questions:

Accountable Care Organizations Available to You

Written by NARVRE. Posted in Alerts and News.

Did you know that if you receive Medicare benefits through railroad Medicare, you are eligible to use Accountable Care Organizations and have access to their many benefits? In this post, we will share the benefits of these organizations and why you might consider joining them as a railroad retiree and member of NARVRE.

An Update on NARVRE Activities in February 2023

Written by NARVRE. Posted in Alerts and News.

We are now in the second month of 2023, and thankfully due to the increase in COLA, you should be receiving more money since the COLA benefit rose to 8.7% in Tier 1 and 2.8% in Tier 2 for railroad retirement benefits.

Why Didn’t I Receive a Cost-of-Living Adjustment?

Written by NARVRE. Posted in Alerts and News.

Annually in October, the Social Security Administration (SSA) and the Railroad Retirement Board (RRB) announce the cost-of-living adjustment (COLA) for the upcoming year. Every year there are questions from a new widow(er) pertaining to why they did not receive a COLA. They are worried they are not receiving their benefits properly and do not understand why others received them but did not. In some cases, due to a rise in Medicare premiums, they actually see their take-home amount lowered as well.

Railroad Retirement Benefits to See Significant Rise in 2023

Written by NARVRE. Posted in Alerts and News.

Most railroad annuities, such as social security benefits, will rise in January 2023. The increase is due to a Consumer Price Index (CPI) from the third quarter of 2021 in accordance with the period of the current year.