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.
Tag: railroad benefits
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.
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.
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.
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.
at the Waterfront Hotel in Oakland, California
In May of this year, 2022, we celebrated our 42nd biennial convention at the Waterfront Hotel in Oakland, California. We were very pleased to be able to celebrate this year since COVID-19 put plans on hold for our previous convention that was to be held in 2020.
Since the age of 48, Tom Dwyer has been a vital member of NARVRE. Tom started in Unit 109 at Minneapolis’ St. Paul. Initially, he was the Unit Legislative Representative as well as a term as president. He has seen NARVRE do some marvelous things under his guidance.
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:
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.
Did you just start working for the railroad? If so, congratulations. You just started a career path that many envy. One of the main reasons many people would love to work for the railroad is its excellent retirement benefits. Currently, according to AARP, our nation is feeling an increase in retirement insecurity.