1370 Ontario St. - Mezzanine, Cleveland, Ohio 44113 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Secretary-Treasurers
Information
Merchandise
Communications
FELA
Events
Links
User Info

Ryan Budget Threatens Railroad Retirement

Remember in November!

On March 29, the U.S. House of Representatives adopted federal budget legislation that would have devastating effects on the retirement security of all active and retired railroad workers.

The bill is commonly known as the “Ryan Budget” as it was sponsored by Budget Committee Chairman Paul Ryan (R-WI). Its formal title is House Concurrent Resolution (H. Con. Res.) 112. The bill passed by a vote of 228-191, with 10 Republicans joining all of the Democrats in voting against it.

Perhaps the most devastating portion of the Ryan Budget are the provisions that sponsors claim “would conform Tier 1 so that its benefits would equal those of Social Security, with an estimated savings to taxpayers of $2 billion over 10 years.”

FUNDAMENTAL MISUNDERSTANDING

The Ryan Budget demonstrates a fundamental misunderstanding of the relationship between Railroad Retirement and Social Security! It ignores the fact that all Railroad Retirement benefits above Social Security — whether Tier 1 benefits or Tier 2 benefits — are fully funded by railroad workers and their employers; none of these benefits are funded from the general treasury. Therefore, no actual budgetary savings would result from enactment of this legislation.

IMPORTANT LINKS

BLET NEWS FLASHES

OTHER NEWS

© 1997-2014 Brotherhood of Locomotive Engineers and Trainmen

 


Safety Task Force Hotline
800-306-5414

Decertification Helpline
800-393-2716

DAILY HEADLINES

Teamster Nation: Get the latest updates in the War on Workers
Oil by rail up 9 percent as U.S. oil production hits 8.5 million barrels a day
Lawyers, union want charges dropped against railway employees in Lac-Megantic disaster
As rail traffic jam persists, U.S. power plants look to roads, rivers
AAR: Combined weekly rail traffic up 3.2 percent over 2013 for week ending August 23
Air quality problems dog Canadian oil by rail terminal
Editorial: Big plans in store for high-speed rail in Texas
Railroad police officer falls off bridge, knocked unconscious in struggle with suspect
Maryland pulls $30 million from CSX rail facility project
Rail agreement opens fresh markets for North Dakota crops
North Dakota congressional delegation criticizes CP Rail
CP Rail train derails in western Saskatchewan, wind may have been factor
Amtrak street work leads to historic finds
Railroad Retirement Board financial reports

More Headlines


Enter your e-mail address to receive BLET news updates.

Subscribe  Unsubscribe