Railroad Retirement System

Railroad Retirement System

A federal system in the United States providing pensions to railroad workers. Persons are eligible to draw funds from the system if they worked 10 years for a railroad (or five years if performed after 1995). It is financed through payroll taxes levied on railroads and their employees. It is distinct from the Social Security Administration, but the two perform largely the same function in their respective spheres.
References in periodicals archive ?
The privatization plan would likely "trigger an increase in the taxes paid by other railroad employers and employees and devastate the railroad industry and its employees and jeopardize the entire railroad retirement system," said Brown.
It is intended to strengthen the vitality and ensure the longevity of the railroad retirement system, allowing enhanced benefits for employees and beneficiaries.
To qualify for Medicare coverage, such individuals must be fully or currently insured under Social Security or the Railroad Retirement System or be the dependent of an insured person.
The railroad retirement system, which is separate from Social Security, paid $106 million in retirement benefits to 9,586 Arkansas railroad retirees and their families in 1999.
During congressional debate, one supporter promised that the railroad retirement system would become "a trail blazer.
The railroad retirement system, which is separate from Social Security, paid $427 million in retirement benefits to 38,726 California railroad retirees and their families in 1999.
There are three basic entitlement categories: persons 65 years of age or over who are eligible for retirement under Social Security or the railroad retirement system, persons under 65 years of age who have been entitled for at least 2 years to disability benefits under Social Security or the railroad retirement system, and persons with ESRD who do not otherwise meet the age or disability requirements.
The railroad retirement system, which is separate from Social Security, paid $13 million in retirement benefits to 1,186 Vermont railroad retirees and their families in 1999.
The railroad retirement system, which is separate from Social Security, paid $74 million in retirement benefits to 6,727 South Carolina railroad retirees and their families in 1999.
The railroad retirement system, which is separate from Social Security, paid $99 million in retirement benefits to 9,008 Louisiana railroad retirees and their families in 1999.
The railroad retirement system, which is separate from Social Security, paid $122 million in retirement benefits to 11,102 North Carolina railroad retirees and their families in 1999.
The railroad retirement system, which is separate from Social Security, paid $16 million in retirement benefits to 1,429 South Dakota railroad retirees and their families in 1999.