RRB Release – Railroad Retirement Benefits to Increase in 2014

Most railroad retirement annuities, like social security benefits, are scheduled to increase in January 2014 on the basis of the rise in the Consumer Price Index (CPI) from the third quarter of 2012 to the corresponding period of the current year.

Cost-of-living increases are calculated in both the tier I and tier II benefits included in a railroad retirement annuity.  Tier I benefits, like social security benefits, will increase by 1.5 percent, which is the percentage of the CPI rise.  Tier II benefits will increase by 0.5 percent, which is 32.5 percent of the CPI rise.  The vested dual benefit payments and supplemental annuities also paid by the Railroad Retirement Board (RRB) are not adjusted for the CPI rise.

Click here to read the full release from the RRB.

Share and Follow: