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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 The Ryan Budget, H. Con. Res. 121 (70 pages) Resolution, House Report (H.Rep.) No. 112-421, with offending language regarding Railroad Retirement Tier 1 benefits on Page 101 (230 pages) See how your member of Congress voted on the Ryan Budget Association of American Railroads letter to Rep. Paul Ryan, stating that cuts to Railroad Retirement Tier 1 benefits would not result in any savings to Federal government BLET NEWS FLASHES September 24, 2012 Mistakes, Misinformation or Mendacity? August 14, 2012 Romney enlists Ryan to wage war on railroad workers April 20, 2012 Remember in November: An open letter from BLET National President Dennis R. Pierce April 16, 2012 War on Workers: Ryan Budget targets railroad workers, retirees OTHER NEWS August 9, 2012 Teamster Nation: Republican budget plan puts rail workers in the crosshairs © 1997-2017 Brotherhood of Locomotive Engineers and Trainmen

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