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
Amtrak signal maintainer killed in New York
Canada announces tougher railway safety rules in response to Lac-Megantic report
More safety auditors, more brakes on idle trains among Canada's new rail requirements
Railways grapple with locomotive shortage and soaring carloads
Detroit-Chicago rail plan: 110 mph, 10 daily trips
California rail agency seeks to avoid bullet train injunction battles
Montana's Ag Director asks BNSF to open Great Falls-Helena line
Ethanol maker says rail transport not keeping up as more embrace E15
Virginia's rail safety task force to start compiling list of recommendations
CSX to continue monitoring water quality of James River after derailment
KCS CEO David L. Starling sells $911,400 in company stock
Senior Vice President at KCS sells $2.4 million in company stock
Railroad stocks may strain to meet lofty expectations
Amtrak's Downeaster to add stop in Kennebunk, Maine
BNSF moves 1,000th crude oil unit train from North Dakota hub
Oil train wreck would be challenge, Spokane deputy fire chief testifies
Medicare Part B premiums remain the same in 2015
Credit for military service under the Railroad Retirement Act

More Headlines


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

Subscribe  Unsubscribe