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Railroad Retirement Update: Implementation schedule
CLEVELAND, December 28 -- Due to numerous membership requests, the following tentative Implementation Schedule for the Railroad Retirement and Survivors' Improvement Act of 2001 has been placed on the BLE website:
Widow(er)’s Benefits
Effective date: February 1, 2002
Implementation Dates:
January 2002 -- letters to all widows advising whether increase payable or not.
April 2002 -- Rate notices sent to widow(er)’s who will receive increase.
April 2002 -- Payments issued for increase due for February and March.
May 1, 2002 -- Regular payment increased.
60/30 Annuities
Effective date: January 1, 2002
Implementation Dates:
Upon enactment -- employees and spouses may begin to file applications.
February 2002 -- Payments will be made at a temporary rate
June 2002 -- Final annuity rates computed and payments issued for any accrued amounts due.
July 1, 2002 – Monthly payments made at final rate.
Five-Year Vesting Requirement
Effective date: January 1, 2002
Implementation Dates:
Upon enactment -- Applicants may begin to file applications.
February 2002 -- Payment will be made at a temporary rate.
November -- Monthly payments made at final rate.
Repeal of Railroad Retirement Maximum
Effective date: January 1, 2002
Implementation Dates:
January 2002 -- Letters will be sent to affected annuitants advising that the reduction was repealed.
May 2002 -- Rate notices released to affected annuitants.
May 2002 -- Separate payment for the increase due is issued.
June 1, 2002 -- Monthly payments made at increased rate.
Friday, December 28, 2001
bentley@ble.org
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