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
Slow pace of rail recovery stirs fear of future woes
39th annual Teamsters National Black Caucus commences in Philadelphia
Panama Canal turns 100 as expansion hits snags
Amtrak's broken Empire Builder
OSHA cites ‘Midnight Rider’ production company in train crash that killed film crew worker, injured 6 others
Oil trains delaying Amtrak, commuter trains across U.S.
Oil, railroad coal port money gushes into races for Washington state legislature
Rail oil tankers, victim of U.S. safety rules, also unwanted in Canada
AAR: Combined weekly rail traffic up 3.9 percent over 2013 for week ending August 9
FRA probing runaway bulldozer incident in New York
Connecticut officials say higher Metro-North costs not justified
Amtrak looks to expand Memphis service
Federal transportation officials praise North Carolina railroad work
Pallet company sues CP Rail for massive fire
Railroad Retirement Board financial reports

More Headlines


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

Subscribe  Unsubscribe