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Each year, the U.S. Railroad Retirement Board (RRB) prepares a “Certificate of Service Months and Compensation” (Form BA-6) for every railroad employee who received creditable railroad compensation in the previous calendar year. The forms will be mailed to employees by the RRB during the first half of June. While every effort has been made to
Read moreThe Railroad Retirement Board (RRB) has adjusted the railroad retirement benefits of over 140,000 beneficiaries to apply new Federal income tax withholding rates. The Internal Revenue Service (IRS) revised the income tax withholding rates and tables that are used to calculate Federal income taxes for United States citizens based on provisions of the Tax Relief,
Read moreThe amounts of compensation subject to railroad retirement tier I and tier II payroll taxes and the tier I and tier II tax rates on employees and employers remain the same in 2011. Railroad unemployment insurance tax rates paid by employers will include a 2.5 percent surcharge in 2011. Click here to read the full
Read moreNRRIT has released the quarterly update for the period ending September 30, 2010. Click here to view the update.
Read moreRailroad retirement annuities will not increase in January 2011 as there was no increase in the Consumer Price Index (CPI) from the third quarter of last year to the corresponding period this year. Because there is no cost-of-living adjustment (COLA), social security law prohibits an increase in the amounts social security and railroad retirement beneficiaries
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