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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.
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 ...
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 ...
In 1935 Whitney was a co-sponsor of the Railroad Retirement Act. [1] At times, the BRT came into conflict with other unions. Thus, in 1937 Whitney informed mayor Fiorello La Guardia of New York City that the BRT planned to start organizing Independent Subway System (ISS) motormen and conductors. At first, LaGuardia said he had no objection.
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]
Under the Pension Protection Act of 2006, employer contributions made after 2006 to a defined contribution plan must become vested at 100% after three years or under a 2nd-6th year gradual-vesting schedule (20% per year beginning with the second year of service, i.e. 100% after six years). (ref. 120 Stat. 988 of the Pension Protection Act of 2006.)
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]