Category: Alumni Association News
Union Plus scholarship deadline approaching; others open for TD members’ families
With the new year in full swing, it’s time to begin applying for scholarships for the 2023-24 school year. If you have a child or grandchild in college or about to attend college, now is the time to do your research and apply. Some scholarships you might consider applying for are administered by the SMART-TD […]
Railroad Retirement and Unemployment Insurance Taxes in 2023
The amounts of compensation subject to Railroad Retirement Tier I and Tier II payroll taxes will go up in 2023, while the tax rates on employers and employees will stay the same. In addition, unemployment insurance contribution rates paid by railroad employers will include a surcharge of 1.5%, down from 3.5% in 2022, due to […]
Action needed to support Congressional Workers Union
This is a call to action. The burning wreckage of what used to be the Grand Old Party (GOP) is attempting to attack the labor movement immediately after the holidays while our guard is down and as the transition to the new Congress occurs. SMART is asking you to take action and contact your congressional […]
ERMA lifetime maximum benefit to increase in 2023
The lifetime maximum benefit for the Railroad Employees National Early Retirement Major Medical Benefit (ERMA or GA-46000) Plan will increase from $182,700 to $188,000 beginning Jan. 1, 2023. At the end of 2001, labor and management had agreed on various procedures to administer the annual changes in the amount of the lifetime maximum benefit under […]
RRB announces retiree earnings limits will increasse in 2023
Railroad Retirement annuitants subject to earnings restrictions can earn more in 2023 without having their benefits reduced due to increased limits indexed to average national wage increases. Like Social Security benefits, some Railroad Retirement benefit payments are subject to deductions if an annuitant’s earnings exceed certain exempt amounts. These earnings restrictions apply to those who […]
Railroad Retirement benefits to see rise in 2023
Most Railroad Retirement annuities, like Social Security benefits, will increase in January 2023 due to a rise in the Consumer Price Index (CPI) from the third quarter of 2021 to the corresponding period of the current year. Cost-of-living increases are calculated in both the Tier I and Tier II portion of a Railroad Retirement annuity. […]
Social Security Administration announces benefit increase for 2023
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7% in 2023, the Social Security Administration announced. On average, Social Security benefits will increase by more than $140 per month starting in January. The 8.7% cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social […]
Medicare Part B premium and deductible for 2023
The Centers for Medicare & Medicaid Services (CMS) has released the Part B premium and deductible costs for 2023. Railroad Medicare processes claims for Part B services. This year saw a modest decrease in both costs. The 2023 annual Part B deductible decreased from $233 to $226, a $7.00 difference. The 2023 standard Part B […]