What Does Railroad Retirement Act Mean?
The Railroad Retirement Act is a law passed in 1937 that provides certain benefits to railroad workers. These benefits included life insurance, a pension, and an annuity.
Insuranceopedia Explains Railroad Retirement Act
The Railroad Retirement Act was created largely as a reward for the workers who built railroads for the nation and to help older workers be comfortable enough to retire.
The Act was amended in 1965 to provide extended benefits, including health and disability insurance.