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Railroad retirement taxes, which have historically been higher than social security taxes, are calculated, like benefit payments, on a two-tier basis. Railroad retirement tier I payroll taxes are coordinated with social security taxes so that employees and employers pay tier I taxes at the same rate as social security taxes.
The Railroad Retirement Program is a federal program that extends retirement benefits to railroad employees. The program was established in the 1930s and in addition to retirement benefits, it ...
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Railroad Medicare is similar to regular Medicare but is specifically for railroad workers.
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.
They also own the Chicago Junction Railroad, Clackamas Valley Railway, the Iowa Traction Railway and Iowa Southern Railway in Iowa, the Crab Orchard and Egyptian Railroad in Illinois, the St. Paul & Pacific Northwest Railroad, and the Wisconsin Northern Railroad. Progressive Rail is also known as the Cannon Valley Railroad (reporting mark CVRC ...
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