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CCH® UNEMPLOYMENT INSURANCE — 11/7/08

RRB sets its retirement wage bases, tax rates, trigger surcharge for 2009

The U.S. Railroad Retirement Board has announced that the taxable earnings base for Tier I retirees will be $106,800 in 2009, up from $102,000 in 2008. The taxable earnings base for Tier II retirees will be $79,200 in 2009, up from $75,900 in 2008. The COLA for Tier I benefits is 5.8% and the COLA for Tier II benefits is 1.9% for 2009 (RRB News Release, 10/16/2008).

The Railroad Retirement Board has determined that a surcharge of 1.5% will be added to the basic Railroad UI Act tax rate for every established employer beginning January 1, 2009. New employers are not affected, however, as their rate will be the average rate for all employers from 2005 through 2007 (RRB Communication, 9/26/2008).

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