All UTU locals are now required to make federal tax payments on-line using the Electronic Federal Tax Payment System (EFTPS). This is because the Internal Revenue Service announced that effective Jan. 1, 2011, it no longer will accept Form 8109 FTD (federal tax deposit) coupo [...]
Railroad Retirement payroll taxes will remain at 2010 levels in 2011, reports the Railroad Retirement Board. For Tier I, carriers and employees each will pay 6.20 percent on a maximum of $106,800 of wages. For Medicare, carriers and employees each will pay 1.45 percent on all [...]
How long will you live after you retire, and will you have enough money to live on comfortably? Good question. That’s why – before you retire – you should think about post-retirement economic security, because few things could be worse than money running out [...]
UTU locals that have not filed Form 990, Form 990EZ or Form 990-N with the Internal Revenue Service for the last three years have until Oct. 15, 2010, to file, or they will automatically lose their tax-exempt status. For additional information on which of three above forms a [...]
Railroad retirement benefits are subject to reduction if an employee with less than 30 years of service retires before attaining full retirement age. While employees with less than 30 years of service may still retire at age 62, the age at which full retirement benefits are p [...]
A new benefit year for jobless and sickness benefits under the Railroad Unemployment Insurance Act begins July 1, 2010, the Railroad Retirement Board reports. Administered by the Railroad Retirement Board (RRB), this law provides two kinds of benefits for qualified railroader [...]
Railroad workers should be aware that in addition to retirement annuities based on age and service, the Railroad Retirement Act also provides disability annuities for workers who become totally or occupationally disabled. Medicare coverage before age 65 is also available for [...]
The 75th anniversary of the enactment of the Railroad Retirement Act of 1935 is being observed during 2010. Part of President Franklin Delano Roosevelt’s New Deal legislation, the Act was signed into law on August 29, 1935, the Railroad Retirement Board reports. It was in the [...]
By Retired GS&T Dan Johnson In the January issue of UTU News, the two-page centerfold summarized provisions of the Railway Labor Act. In the February issue, I explained how the Railway Labor Act is purposely designed to encourage both sides to reach a mutually acceptable [...]
By Retired UTU GS&T Dan Johnson In the February issue of UTU News, it was explained that the Railway Labor Act (RLA) is purposely designed to encourage both sides to reach a mutually acceptable solution that keeps the trains running. Railroad contracts have no expiration [...]
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