Railroad Retirement

 

For CSX Transportation and Select Other Positions Only

Railroad employees and employers are required by law to pay Railroad Retirement Taxes in place of Social Security Taxes (FICA).

Railroad Retirement Taxes are divided into two categories: Tier I - which is equivalent to FICA, rate and ceilings, and Tier II - which is an additional 4.4%.

CSX contributes an additional 12.6% toward the Railroad Retirement fund compared to FICA. Vested employees (five years of credible service) will receive an annuity from the Railroad Retirement Board upon retirement. It is not associated with the Company Pension Plan. If an employee leaves railroad service prior to the vested period, the Tier I tax reverts to Social Security upon retirement.



 

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