The Helper locomotive is there to assist trains to get over steep grades. This blog serves the same purpose. It is here to help give ideas to get you over those steep financial grades that lie ahead of you. I hope you enjoy!
Most railroaders really don’t know the valuable benefit they receive from collecting a Railroad Retirement Annuity. The large majority of them just see money coming out of their paychecks every pay period with the expectation of getting some sort of benefit when they retire.
If you haven’t done all of your professional life in the railroad industry then you need to understand how Social Security and Railroad Retirement affect your retirement income.
As you are approaching retirement or in retirement someone will eventually try to "sell" you an annuity, but before you accept that "free" dinner seminar invitation understand if you need one. Railroaders should have a different view of annuities then most people.
Get a working knowledge of your Tier 2 Railroad Retirement Annuity. Understand how it is funded, who manages the annuity, and how your Tier 2 benefit calculated.
Many railroaders are considering "early" retirement from the industry. Understand the financial costs of taking this option on your overall retirement.
One of the perceived benefits of working in the railroad industry is the access afforded to employees to a Railroad Retirement Annuity. Let’s look further into Tier 2 and understand if the employee is receiving value for these contributions.
Sometimes even the retired want to keep working. However this will have a effect on your Railroad Retirement Annuity. Understand your situation before you fire it up again.
Taxes and Railroad Retirement Benefits: What Every Railroader Should Know
Over the years I have come into contact with people who love their careers with the railroad and others who shall we say have less then kind things to say. But the one thing you rarely hear bad words about is the benefits afforded to railroad workers through the Railroad Retirement Act.