7061 East Pleasant Valley Road, Independence, Ohio 44131 • (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

© 1997-2016 Brotherhood of Locomotive Engineers and Trainmen

 


Decertification Helpline
(216) 694-0240

National Negotiations

Sign up for BLET
News Flash Alerts

DAILY HEADLINES

Get the latest labor news from the Teamsters
Union Pacific blamed for oil train derailment in Columbia River Gorge, says it will replace bolts
FRA issues findings in UP oil train derailment, fire in Mosier, Ore.
AAR: Rail traffic down 6.3 percent from 2015 for week ending June 18
UP maintenance employee arraigned on felony charges after grade crossing fatality in Gilroy, Calif.
The new Panama Canal: A risky bet
Sioux Falls train traffic to pick up with BNSF rail yard redevelopment
KCS plans infrastructure improvements along Meridian Speedway
IBTís Graphic Communications Conference opens 3rd Convention
STB to take a fresh look at CSX blocking crossings in Chicago
Oregonís governor renews call to ban oil trains through state
Costco Teamsters in the East join Western Conference pension plan for first time
KCS to announce 2Q 2016 financial results on July 19
UP to announce 2Q 2016 financial report on July 21
RRB: Dual benefit payments

More Headlines