2024 rail fringe benefit sheet released

2024 rail fringe benefit sheet released

January 10, 2024

Many factors weigh into our salaries and compensation packages; seniority, assignment preferences, rail traffic/volume and work location, to name a few.

When working on an extra board, sometimes our compensation depends on downright luck. The provisions of on-property agreements in effect at our specific work location negotiated by our General Committees of Adjustment and subject to ratification by the members on that specific property are another factor.

Over the last several decades, our organization has published an annual fringe benefits sheet intended to illustrate the monetary value of our hard-earned and well-deserved national benefits package.

In doing so, some assumptions must be made. These examples are illustrative of an experienced railroader with enough seniority to qualify for full vacation, with earnings that exceed the Railroad Retirement Tier II tax limit and meet the Railroad Retirement Tier I tax limit. This is done not to mislead, but to illustrate the maximum potential value of our fringe benefits.

With the above in mind, in our 2024 publication, our members’ annual fringe benefits are valued at nearly $77,321, which brings the members’ total compensation package to nearly $245,921.

In the case of a railroad member who earns $125,100 in compensation (Railroad Retirement Tier II tax limit) and qualifies for three weeks of vacation, their annual fringe benefits are valued at an estimated $71,000, for a total compensation package of close to $196,100.

SMART-TD will continue our fight for exemplary wages and benefits that align with the essential work you do and the sacrifices you make. Together, we will continue to lead the way as the nation’s largest rail employee union, setting the standard for collective bargaining within our industry and beyond it.

Please take the time to follow this link to read a breakdown of Your Fringe Benefits prepared by the staff at SMART-TD’s International headquarters. Prior fringe benefit documents are available behind the SMART Member Portal.