NARVRE LEGISLATIVE SWITCH LIST FOR NOVEMBER, 2004
Forwarded by: Jim Hansen
(November 1, 2004) As we prepare this edition of the Switch List
it is with mixed emotions due to the fact we are not aware of the result of the
November General Election. This fact
alone will reflect upon whether we move ahead with our designs regarding
railroad retirement or face the fact it would be useless. While it may seem silly to some, I firmly
believe our membership realize the facts and what an effort it would be to
proceed ahead knowing we were facing firm opposition to our collective efforts.
We may be pleasantly surprised. I hope so. Only time will tell.
You will recall the National
Convention Delegates adopted two (2) important resolutions pertaining to
railroad retirement. The first (Resolution
Number 4) pertains to the so-called Takeback Provision passed as a part of the
Railroad Retirement Solvency Act of 1983. It affects the retired Employee, Spouse and
Dependant who retired prior to December 1983 and January 1984. Does it affect your pension? It does if you are among the thousands who
retired prior to those months. How much
are they losing as a result of this being included in the Act? The answer is in excess of $74 million a year.
Yes it will go down as the Worker,
Spouse and Dependants decreases as a result of their passing away. We cannot wait with this important amendment
to the Act. The money is there and it
should be used to correct this inequity.
Resolution Number Five (5) was
passed and affects those who decided, for one reason or the other, to accept
their annuity at age 60 after July 1,
1984. In a like fashion the
pension payment each month was reduced by twenty (20) percent. In some cases the amount of the pension was
reduced by only Ten (10) percent. This
as a result of the timing and when they applied for the annuity. Regardless, retirees in this situation are
losing a specific amount of pension money each month. NARVRE is of the opinion inasmuch as the Trust
Fund is increasing; those affected should be made whole. What are they losing? On an average each retiree in this situation
(60/30 after July 1, 1984
and prior to the 2001 amendment) is losing an estimated average of $275.00 per
month. An amount worth fighting for in
the 109th Congress.
We will be watching and waiting.
You will be alerted. We can do it again.
Posted: 11/09/04