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Archive for March, 2015

Railroad Retirement Info for 2015

Friday, March 27th, 2015

The 2015 tax rate for Tier I during 2015 will be 6.2% for Employee and Employer. The annual maximum will be on earnings of $118,500.00 making the maximum employee and employer tax of $7,347.00.  For Tier II the Employee tax rate is 4.9% and the employer tax rate is 13.1%. The annual maximum will be on earnings of $88,200.00, therefore the maximum employee tax will be $4,321.80 and the maximum employer tax will be $11,554.20. (There have been three (3) decreases in the tax rate since 2001.)

During a meeting with UP General Chairmen on March 25, 2015, the RRB advised that the trust fund contains an amount of approximately $27 billion. There are no projected cash short falls for the next seventy-five (75) years. In fact, the number of workers paying into Railroad Retirement is up this year to 249,000.

Attached for you to print, is a comparison of Railroad Retirement benefits vs. Social Security benefits and a sheet about “myths” of RRB benefits.       RRB comparison and Myths