An Update on NARVRE Activities in February 2023
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.
As a reminder, everyone’s annuity is different since they are based on the highest sixty-month earnings achieved during your railroad career, along with the total years of service. Therefore, when you file your 2022 taxes, ensure that the tax preparer you choose is aware and understands the differences between earning social security benefits and railroad retirement benefits.
Also, it is essential that you are mindful in states that have a state income tax that, federal law says only the federal government may tax railroad retirement benefits. Our new NARVRE National President, George Boatwright, recommends the online tax preparer Turbo Tax, stating, “It does a very good job of figuring railroad retirement-related taxes.” Over the years, some states have actually attempted to tax railroad retirement benefits, and NARVRE has been able to reverse and stop these illegal money-grabbing intrusions of your hard-earned benefits.
Update on NARVRE’s New Units
We have found continual success by meeting via Zoom with our national officers to coordinate upcoming meetings around the country. We are still striving to establish new units while also reviving older ones. We have had great success starting new units in the Chicago area.
We have continued our relationship with Jones Granger law firm and TLC insurance to fund these ventures. If you have any issues with asbestos from working for the railroad, we encourage you to contact the Jones Granger law firm. In addition, if you have questions concerning your Medicare supplemental insurance needs, please get in touch with TLC insurance. They are standing by to answer your questions.
Since COVID put a pause on our members being able to meet in person, it has been encouraging to see the new Facebook groups for units showing up on social media. We currently have 47 units and Facebook, and more to come. If your unit still needs to be added to Facebook, please reach out to us, as we will be having Zoom meetings and classes that will instruct those in leadership positions on how to set up their unit on social media. We are excited to enter the digital world. We believe it increases awareness of NARVRE’s mission to PROTECT, PRESERVE, and PROMOTE your railroad retirement benefits.
Becoming A NARVRE Member
Please consider joining us today if you still need to become a member. The membership dues are small, but the benefits are enormous. We do our due diligence to ensure that you will always continue to receive your benefits, and we provide all the information available to keep you informed about your benefits. So, look for us on Facebook or speak to a local affiliate to join today.
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