Legal Definitions - railroad-aid bond

Railroad Retirement Board (RRB)

The Railroad Retirement Board (RRB) is an independent agency of the U.S. federal government. It is composed of three members and is responsible for administering a comprehensive benefits program specifically designed for the nation's railroad workers and their families. This program provides retirement annuities, unemployment benefits, and sickness benefits, operating separately from the general Social Security system, to address the unique needs of the railroad industry workforce.

• Example 1: Retirement Benefits

  After a 30-year career as a locomotive engineer for a major freight company, John decides to retire. To apply for his monthly pension, he contacts the Railroad Retirement Board. The RRB processes his application, calculates his annuity based on his years of service and earnings in the railroad industry, and ensures he receives his retirement benefits, which are distinct from standard Social Security.

• Example 2: Unemployment Assistance

  Sarah, a railroad signal maintainer, is temporarily laid off when her employer experiences a downturn in rail traffic. To receive financial support while she is out of work and actively seeking re-employment, Sarah applies for unemployment benefits through the Railroad Retirement Board. The RRB provides this short-term assistance specifically for eligible railroad workers who are unemployed through no fault of their own.

• Example 3: Sickness and Disability Support

  Michael, a railroad conductor, develops a severe medical condition that prevents him from continuing his duties. He applies for sickness benefits through the Railroad Retirement Board. The RRB evaluates his medical claim and, if approved, provides financial payments to Michael during the period he is unable to work due to his illness, offering a safety net tailored to his employment in the railroad sector.