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August 24, 2010
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Alabama Annuity News

 

Railroad Retirement Annuity Estimates to be Available

The U.S. Railroad Retirement Board announced that railroad employees can now get estimates of their future annuities over the Internet.

Employees can access this new service, called "Retirement Planner for directions on establishing an RRB Internet Service account.  Once employees establish their online accounts, they will be able to get annuity estimates for themselves and their spouses, as well as conduct other business with the Board, over the Internet.  However, to ensure security, employees must first go online to get a Password Request Code, which they will receive by mail in about 7 to 10 days.  Employees are encouraged to establish online accounts so the account is ready whenever they need to use this or other Internet services.  Employees who have already established online accounts do not need to do so again.

The Retirement Planner will provide employee and spouse estimates for employees who have not yet retired under the Railroad Retirement Act.  The estimates will be based on the service and earnings records maintained by the Board and will show the earliest date the employee can receive a full annuity and, if applicable, the earliest date he or she can receive a reduced annuity. Only railroad employees are allowed to access Retirement Planner; but employees can also use the Retirement Planner to get annuity estimates for their spouses.  In addition, employees can view and print a summary of their current record of railroad retirement service months, compensation, and social security wages.  By adding service months, compensation, and wages in future years, they can also obtain an estimate based on projected earnings.

The new service is part of the Board's plan to implement comprehensive Internet services that will expand access to information and allow the railroad public to conduct its business with the agency online.  For those who choose not to conduct business over the Internet, the Board's field offices are available to answer in-person, telephone, and written inquiries.

Most Board offices are open to the public from 9:00 a.m. to 3:30 p.m., Monday through Friday, except on Federal holidays.  Addresses and phone numbers for all Board offices are available by calling the toll-free RRB Help Line at 1-800-808-0772.  The RRB Help Line is an automated telephone service available 24 hours a day, 7 days a week.  Board office locations and phone numbers can also be found on the Board's Web site. 

 

 

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Did You Know?    
 
 
The NASD Reminds Members of Their Responsibilities Regarding the Sales of Variable Annuities
NASD is an independent self-regulatory organization charged with regulating the securities industry, including sellers of variable annuities. The NASD recently issued a release to its members reminding them of their responsibilities to investors in selling variable annuities (NASD Notice 99-35, "The NASD Reminds Members of Their Responsibilities Regarding the Sales of Variable Annuities").

 


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Annuity Lawyers.com Terms

 


Today's Terms

Option B

Definition:
Coverage, equal to up to 5 multiples of your annual basic rate of pay, that you can elect in addition to Basic insurance. Also called additional optional insurance.

COLA, CSRS

Definition:
CSRS cost of living adjustments (COLA's) provide an increase that is equal to the rate of inflation as measured by the Consumer Price Index (CPI). CSRS cost-of-living-adjustments are provided to retirees at all ages

Living Benefits

Definition:
Basic insurance benefits (full or partial) paid to you while you are still living, rather than paid to a beneficiary when you die. You must be terminally ill, with a life expectancy of 9 months or less, to qualify for a living benefit.

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Annuity Law Hot Topics

 
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Alabama Annuity-Law Attorney

 
If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

  • Alabaster
  • Albertville
  • Alexander City
  • Anniston
  • Athens
  • Atmore
  • Auburn
  • Bay Minette
  • Bessemer
  • Birmingham
  • Cullman
  • Daphne
  • Decatur
  • Dothan
  • Enterprise
  • Fairhope
  • Florence
  • Fort Payne
  • Gadsden
  • Hartselle
  • Huntsville
  • Madison
  • Mobile
  • Montgomery
  • Opelika
  • Ozark
  • Pelham
  • Phenix City
  • Pinson
  • Prattville
  • Selma
  • Sylacauga
  • Talladega
  • Theodore
  • Trussville
  • Tuscaloosa
  • Wetumpka


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