How would you do it?

[CG9602]

Thank you both Limitedclear and kenneo.

[kenneo]

Railroad Retirement is a two teir system, Tier one is the same as SSA. Tier 2 is totally and completely funded by the workers own money deducted from his paycheck. After both tiers are depleated, the railroad company of record for the employee pays the bill until the retiree and/ his dependents pass on.

I can tell you what will happen if they are combined into SSA. I can do this because Ronald Regan tried to do this to us. Tier one will remain. Tier two will be used to pay government bills. The railroads will be removed from the liability of paying any excess withdrawls.

Now, please tell me, why you are getting the response you are getting? You mentioned that you believed in supporting your own retirement. RRA is as close to that as you will ever get in a funded (private or public) retirement system.

[Anonymous]

QUOTE: Originally posted by CG9602

Here's a question for the board members: If the RR Retirement board were to be combined with or phased into, the regular US Social Security system, how would that be done? What issues would have to be resolved?
You would have to do this in such a fashion that the Social Security takes over all functions of Railroad Retirement

CG-

With all due respect, you still haven't grasped that by asking this question you are implying that the RRB will be swallowed by SSA. That is why you are getting the responses you have. Re read your original question above and think about the ramifications of what you yourself have suggested before you get too far into criticizing the responses you have received.

LC

[CG9602]

Thank you, Limitedclear. Your post was helpful and informative. I regret making members here upset. It's just that I was curious as to why there were two systems set up, that had qualities in common with one another. I also was brought up with teachers in school who told the class to handle the retirment planning all on their own - don't rely upon Social Security or RRB, or anything, just "Do It Myself becuase it's my money, and providing for one self is one's own responsibility."
I was curious as to what the difference was between SSI and RRB, and why there was a separate system just for RRB. From what I read here, there are folks who are of the opinion that RRB is more secure than company or union pensions, and offers more security. I'm no politician, and it was enlightening to read what other members of the forum thought I was asking about. It was a real lesson to type one thing and have members of the board read something else completely into it. Misinterpretation and misunderstanding can occur just about anywhere, including the Internet. I was asking to make a comparison or combination of the two, and WASN'T talking of "touching" or "cutting" the RRB or SSI.
Again, I regret making folks here unhappy, but I had questions, and, I figured this would be a good place to become "informed." It was particularly informative to see how some folks missed the point completely, and instead went on and on about "cutting," "politicians taking away the retirement" (it was politicains who set the system up, politicans who administer it, and they will be there in the future. Doing it myself as much as possible means that I won't have to worry as much as others about SSI, RRB, whatever), or how much they paid into the system (you know it just gets redistributed to current retirees. You''ll be supported by the current workers when you retire - it doesn't go into some special account just for you alone), or "time marked off."
As for the "needs of the many" arguement, I'm more concerned with me providing retirement $$$ for my own needs, doing it myself ( just like I was taught) and not have to have a gov't agency - not SSA, not RRB, not anyone as much as possible- to deal with.

[Anonymous]

dont touch the rr retirement

[Anonymous]

QUOTE: Originally posted by CG9602

Why would I pose such a question? At the time I posted the question, I wanted to knwo why two systems existed when they shared common qualities. I now see that with one particularly helpful posted, the rrb is the pension fund, while I already knew that SSI was just a supplement to what an employer ( or in my case, myself) haad already set up. I wasn't talking about eliminating one with no replacement, I was talking about replacing one with the other - that's all. Perhaps I misunderstood. Social Security takes money from current workers and then redistributes it to current retirees. It is what is called a "current-payer" system. I was under the impression that RRB does exactly the same . . . taking from current workers and then redistributing it to folks who are already retired. That's why I asked. I'm sorry if I made anyone angry. I was unaware of what CSSHEGEWISCH pointed out. Thank you CSSHEGEWISCH.
As for some of the others, thank you for responding, but your answers weren't at all helpful. I asked about combining two systems that I thought were interchangable. I now understand that RRB isn't the carbon copy of SSI. I didn't ask about board members' attitudes about politicians, or how much time people put in at work or time off, or how much taxes people paid ( some of us outside of the RR industry pay 50% in payroll and income and various other taxes - taxes are high all around). I guess I would have appreciated someone listing a website that would tell the difference between the two systems, instead of posters letting their emotions cloud their judgement.

I'm not making any apologies, nor do I think others owe any. Over the years there have been many attempts to suck the RRB into SSA. This would result in a complete loss of the pension that is substantially better than Social Security. Many of us chose to work on the railroad in whole or in part because of the promise of a solid decent retirement in an uncertain world where looting company and union pension funds has become so commonplace. None of us wants to see someone start in with the old "Needs of the many" argument that somebody cites as a reason for and SSA takeover every time SSA gets into financial hot water. The road to fixing Social Security is not on the backs of railroaders.

As to websites, check out www.rrb.gov.

LC

[CG9602]

Why would I pose such a question? At the time I posted the question, I wanted to knwo why two systems existed when they shared common qualities. I now see that with one particularly helpful posted, the rrb is the pension fund, while I already knew that SSI was just a supplement to what an employer ( or in my case, myself) haad already set up. I wasn't talking about eliminating one with no replacement, I was talking about replacing one with the other - that's all. Perhaps I misunderstood. Social Security takes money from current workers and then redistributes it to current retirees. It is what is called a "current-payer" system. I was under the impression that RRB does exactly the same . . . taking from current workers and then redistributing it to folks who are already retired. That's why I asked. I'm sorry if I made anyone angry. I was unaware of what CSSHEGEWISCH pointed out. Thank you CSSHEGEWISCH.
As for some of the others, thank you for responding, but your answers weren't at all helpful. I asked about combining two systems that I thought were interchangable. I now understand that RRB isn't the carbon copy of SSI. I didn't ask about board members' attitudes about politicians, or how much time people put in at work or time off, or how much taxes people paid ( some of us outside of the RR industry pay 50% in payroll and income and various other taxes - taxes are high all around). I guess I would have appreciated someone listing a website that would tell the difference between the two systems, instead of posters letting their emotions cloud their judgement.

[wabash1]

I seldom mark off only when vacation or a matter dealing with the family arises do i mark off. and i pay plenty into the rrb and know ill get this back i dont want anything to do with ssi.

[CSSHEGEWISCH]

It would be difficult since SSA and RRB are not the same. RRB annuities are railroaders' pensions while SSA is a supplement to private pensions and personal savings (the 3-legged stool). SSA was never intended to be a pension by itself.

[Anonymous]

No kidding, Wabash. It is pretty pathetic that on a 4200.00 half, I barely bring home 2200.00. I hit 5300.00 two halves ago (I told you I never mark off!) and brought home 2890.00. I think that donating 2410.00 dollars to the Govt. in two weeks is excessive! I don't need some financial wizzard screwing me on my retirement too!
CG9602.....Why would you pose such a question??????????
Ken

[wabash1]

I would tell the politicians to leave my retirement alone.

[wallyworld]

I would'nt.

[Anonymous]

Why would you raise a question like that? We pay more than social security payers put in! Leave our retirement alone.....Period!
Ken

[Anonymous]

I agree, why? The only reason I can think of is so some politician can steal our hard earned contributions that between employer and employee shares are more than three times that of Social Security... No thanks.

LC

[sooblue]

How would you do it?
I want to know WHY you would do it?[8)]
Sooblue

QUOTE: Originally posted by CG9602

Here's a question for the board members: If the RR Retirement board were to be combined with or phased into, the regular US Social Security system, how would that be done? What issues would have to be resolved?
You would have to do this in such a fashion that the Social Security takes over all functions of Railroad Retirement

[CG9602]

Here's a question for the board members: If the RR Retirement board were to be combined with or phased into, the regular US Social Security system, how would that be done? What issues would have to be resolved?
You would have to do this in such a fashion that the Social Security takes over all functions of Railroad Retirement