Archive for January 11, 2022
Railroad Retirement and Unemployment Insurance taxes in 2022
(Source: Railroad Retirement Board press release, December 8, 2021) CHICAGO — The amounts of compensation subject to railroad retirement tier I and tier II payroll taxes will increase in 2022, 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…
Read MoreRRB Q&A: Annuitants may need to increase tax withholding at age 62
(Source: Railroad Retirement Board press release, December 21, 2021) CHICAGO — Certain portions of a railroad retirement annuity are treated differently for Federal income tax purposes. The following questions and answers explain these differences and address the importance of individuals establishing accurate tax withholding from their annuities. Certain beneficiaries, including those retiring at age 60 with…
Read MoreUP nearing purchase of battery-electrics for yard tests, CEO says
(Source: Trains Magazine, January 6, 2022) PHOENIX, Ariz. — Union Pacific is nearing agreements to purchase battery-electric locomotives for tests in yard use, CEO Lance Fritz says, with plans to try the locomotives in one cold-weather location and one warm-weather site. Full story: Trains Magazine Tuesday, January 11, 2022
Read MoreMontana Rail Link to end operations, with BNSF taking over
(Source: Billings Gazette, January 10, 2022) BILLINGS, Mont. — BNSF Railway announced plans Monday to take over Montana Rail Link and its 900 miles of track in Montana and Idaho. BNSF has committed to retain all union and non-union employees of MRL in their current jobs with similar pay, benefits, seniority, and other terms of…
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