Tag: rrb

Standing Strong for Railway Workers

Written by NARVRE. Posted in Alerts and News.

NARVRE’s Commitment to Preserving Railroad Retirement Benefits

Once again, the House Republicans have proposed a substantial cut to the Railroad Retirement Board’s budget for FY2025. RRB budget cuts could be catastrophic for the agency, which is already dealing with severe funding issues. This is egregious because the agency is funded from your railroad retirement tax dollars. Not one penny comes from general U.S. Treasury tax dollars. As retired and veteran railway employees, you understand the importance of these benefits and annuities provided by the RRB. These are not just numbers on a ledger; they represent the hard-earned security and dignity of a lifetime of service on the railroads.

Biden administration's plan and Congress.

Biden Administration Plans to Develop a Way for Credit Scores Not to be Affected by Medical Bills

Written by NARVRE. Posted in Alerts and News.

The last few months have been tumultuous in the White House, causing widespread speculation about a potential government shutdown. As an organization, we strongly encourage all our members to reach out to their Congress members. Urge them to prioritize funding for both Amtrak and the Railroad Retirement Board. Our mission has always been to assist elected representatives to help them understand the complexities of the railroad retirement system. It is important to note that even today, many members of Congress need to be made aware of our situation under the Railroad Retirement Act, which underscores the critical nature of our advocacy efforts.

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:

Funding for the Railroad Retirement Board

Written by NARVRE. Posted in Alerts and News.

Since the Railroad Retirement Board (RRB) is a federal agency, it is required to submit a fiscal year budget in preparation for the President’s yearly budget review. Present day, the Railroad Retirement Board funding is $128M. The President’s FY24 budget for the Railroad Retirement Board is $138.575M. While this is an increase, it only supports around 729 full-time employees.

New Legislation Stops Strike, Yet Leaves Railway Workers With Unfair Policies

Written by NARVRE. Posted in Alerts and News.

The possibility of a nationwide rail strike was averted, effective December 2, 2022. Realizing that a strike on our nation and overall economy could be detrimental, President Biden called for Congressional intervention. This is in accordance with the Railway Labor Act (RLA).

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.