Railroad Retirement Act
Updated: 21 October 2024
What Does Railroad Retirement Act Mean?
The Railroad Retirement Act, passed in 1937, provides specific benefits to railroad workers, including life insurance, a pension, and an annuity.
Insuranceopedia Explains Railroad Retirement Act
The Railroad Retirement Act was established primarily to reward the workers who built the nation’s railroads and to provide older workers with the means to retire comfortably.
In 1965, the Act was amended to include additional benefits, such as health and disability insurance.
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