RRB
RRB 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 MoreRRB names new Director of Retirement and Survivor Benefits
(Source: Railroad Retirement Board press release, January 4, 2022) CHICAGO — The U.S. Railroad Retirement Board (RRB) has selected Letitia C. Carthans as the agency’s next Director of Retirement and Survivor Benefits, effective January 3, 2022. She will replace Valerie Allen, who is retiring after more than 31 years of RRB service. In her new position,…
Read MoreQ&A: Reporting events than can affect Railroad Retirement benefits
(Source: Railroad Retirement Board press release, December 2, 2021) CHICAGO — Rights to benefits under the Railroad Retirement Act also carry responsibilities for reporting events that may affect the payment of these benefits to the employee or to members of the employee’s family. If these events are not reported to an RRB field office, benefit overpayments…
Read MoreMedicare Part B Premiums for 2022
(Source: Railroad Retirement Board press release, November 19, 2021) CHICAGO — The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $170.10 in 2022, an increase of $21.60 from $148.50 in 2021. Some Medicare beneficiaries may pay less than this amount because, by law, Part B…
Read MoreRailroad Retirement benefits set to increase in 2022
(Source: Railroad Retirement Board press release, October 29, 2021) WASHINGTON, D.C. — Most railroad retirement annuities, like social security benefits, will increase in January 2022 due to a rise in the Consumer Price Index (CPI) from the third quarter of 2020 to the corresponding period of the current year. Cost-of-living increases are calculated in both the…
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