Railroad Retirement Board

The Railroad Retirement Board (or RRB) is an agency of the United States government created in the 1930s to administer a social insurance program providing retirement benefits to the country's railroad workers.

The RRB serves U.S. railroad workers and their families, and administers retirement, survivor, unemployment, and sickness benefits. Its headquarters are in Chicago, Illinois with field offices throughout the country.

Railroad workers do not pay money into Social Security, nor do they receive Social Security benefits. In connection with the retirement program, the RRB has administrative responsibilities for railroad workers' Medicare coverage.

During 2005, retirement-survivor benefits of $9 billion were paid to 634,000 beneficiaries, while net unemployment-sickness benefits of $73 million were paid to 29,000 claimants.

Railroad retirement benefits are paid jointly by the member railroads and their employees. The Board administers a trust fund which operates at a substantial profit.

Unlike the Disability program offered by Social Security, Railroad Retirement offers two types of disability annuities. The Total Disability, or "Disability Freeze" as it is called, is based on guidelines similar to Social Security. The Occupational Disability only requires that applicants display certain ailments which are deemed by law as an inability for them to safely perform their regular task.

Railroad employees applying for either disability annuity must not be under pay at the time of application. Applicants either quit their jobs, retire or exhaust sick benefits before applying for either disability.

ee also

* Pensions
* Retirement plans
* Social insurance

References

External links

* [http://www.rrb.gov/default.asp Railroad Retirement Board]