| The Railroad Retirement Act replaces
Social Security for railroad employees, providing
payment of retirement, disability and survivor
benefits. The Railroad Retirement Trust Fund has a
balance of approximately $16.5 billion. Currently
818,000 railroad retirees and heirs receive benefits.
Records date back to 1937, but five percent of
railroad employee addresses on file are not current.
In
addition, survivors of retired railroad employees who
died between 1964 and 2001 may be entitled to receive
a $2,000.00 life insurance benefit under a group life
insurance policy issued to the Health and Welfare
Plan of the Nation's Railroads and the Railway Labor
Organizations.
The
Railroad Retirement Board makes 'no routine effort'
to locate surviving family members or lost employees
with railroad service who have not filed for
benefits.
For a
search of the unclaimed railroad life insurance
benefit database and claims information on railroad
employee retirement benefits order our Special
Report: Railroad Retirement Unclaimed Benefits
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