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
Rail congestion from oil boom blamed for high electricity costs
Utilities, railroads guardedly optimistic about coal deliveries
Canada introduces new crossing, rail safety regulations
Six rail unions team up to tackle national contract negotiations
Weekly U.S. coal carloads hit 2014 highs, led by UP and BNSF
AAR: Combined rail traffic up 8.4 percent over 2013 for week ending December 13
Opinion: Oil train glut shows how little Keystone XL pipeline matters
STB extends Grand Trunk, EJ&E transaction oversight for another 2 years
Canada's Unifor and CN fail to reach labor agreement
CSX re-opens Chicago Locomotive Shop
Union Pacific to announce 4Q 2014 results on January 22, 2015
UP files $2.3 million lawsuit against metal company
Railroad Retirement and Unemployment Insurance taxes in 2015

More Headlines


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

Subscribe  Unsubscribe