RAILforum: Worker pensions

This is topic Worker pensions in forum Amtrak at RAILforum.

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Posted by TALKrr (Member # 683) on :

I was astounded the other day to learn that , last year alone , Amtrak was responsible for paying over 200 MILLION in pension money to workers from predecessor railroads.

I do not understand.

Was this part of the "ORIGINAL" agreement with the freight companies back in 1970 when Amtrak was formed ??

So WHOSE pensions is Amtrak presently responsible for ?? Naturally, those of retired AMTRAK employees, but WHO else ?

Am I correct in thinking, then , that a retired PASSENGER-RAIL employee from (let's say the Santa Fe Company) must be paid his/her pension from AMTRAK ???

WHY should Amtrak be responsible for ANYONE'S pension OTHER than that of an AMTRAK employee ?????

So, SINCE 1970 , how much money has AMTRAK actually paid out in PENSIONS to individuals from predecessor railroads ??

And WHY on earth would AMTRAK possibly agree to "assume" the pensions of all these workers from predecessor railroads ?----and by that does it mean FREIGHT employees or employees from the PASSENGER division ??

Why it's no wonder Amtrak is BROKE !!!

Like I said, I was absolutely ASTONISHED (beyond belief) that Amtrak was responsible for THAT much in pension benefits !!!

Is anybody else just as SHOCKED ??

So please, somebody explain just WHOSE pensions AMTRAK is REALLY responsible for , and WHY .

Posted by MPALMER (Member # 125) on :

It is possible that the pension payments were mandated by Congress. Or, like you mentioned, they might have transferred over with the employees as they were picked up by Amtrak. On a related note, I think it is interesting that some rail crafts came with 5 years of severance pay...amazing! Are any other industries or union contracts so generous?