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This pressure resulted in the Railroad Retirement Act of 1935, which set up a staff retirement plan providing annuities based on an employee's creditable railroad earnings and service, and Railroad Retirement and Carrier Taxing Acts of 1937, which made railroad employees the only private-sector workers outside the Social Security system to have ...
The Railroad Retirement Revenue Act of 1983, also known as the Railroad Retirement Solvency Act of 1983 (Public Law 98-76), was passed on August 12, 1983. Among other things, it raised tax rates for the railroad retirement taxes.
Manfredo M. Salinas was an employee of the Union Pacific Railroad for a fifteen-year period and was injured twice while working. [1] In 1992, due to his injuries, Salinas began the process of seeking disability benefits provided under the Railroad Retirement Act of 1974. [1] His application was denied three times, the final denial occurring in ...
The Railway Labor Executives' Association was the primary organization pushing for railroad retirement legislation, which was first enacted in 1934. [10] In addition to the layoff provisions mentioned above, the Emergency Railroad Transportation Act of 1933 also contained provisions (again drafted by Richberg) which outlawed " yellow dog ...
The Employee Retirement Income Security Act of 1974 (ERISA) (Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry.
Its similarity with the Social Security Act meant the test of the railroad pension regime would serve as an indicator of whether Roosevelt's ambitious retirement program would be found constitutional. [26] The railroad pension was designed to encourage older rail workers to retire, thereby creating jobs for younger railroaders desperately in ...
In the years before merging with TCU, the brotherhood remained active in the realm of organized rail labor. Their main achievement during this era was the amendment of the Railway Retirement Act of 1937, which was signed by President Roosevelt and established a railroad retirement system, separate from the social security program. [1]
As of 2023, the company is still covered by the Railroad Retirement Act. [6] The company's archives from 1905 to 1936 are held by History Colorado. [7] A dispute among railways involving the HB&T was decided by the United States Supreme Court. [8] [9]