Did the 1998 report on the railroad retirement system recommend any railroad retirement payroll tax rate changes?
The report did not recommend any change in the rate of tax imposed on employers and employees. 6. What were the findings of the 1998 report on the financial condition of the railroad unemployment insurance system? The Board’s 1998 railroad unemployment insurance financial report was also favorable, indicating that even as maximum benefit rates increase 40 percent (from $43 to $60) from 1997 to 2008, experience-based contribution rates are expected to keep the unemployment insurance system solvent even under the Board’s most pessimistic employment assumption. Unemployment levels are the single most significant factor affecting the financial status of the railroad unemployment insurance system. However, the system’s experience rating provisions adjusting contribution rates for changing benefit levels, and its surcharge trigger for maintaining a minimum balance, ensure financial stability in the advent of adverse economic conditions. Under the experience rating provisions, each employer’s
Related Questions
- Did the 24th valuation of the railroad retirement system recommend any railroad retirement payroll tax rate changes?
- Did the 1998 report on the railroad retirement system recommend any railroad retirement payroll tax rate changes?
- Can an employer make changes to a payroll report once it has been submitted to BWC online?
