The BNSF Retirement Plan (Pension Plan) is a qualified, defined benefit pension plan, which provides retirement benefits to eligible exempt employees. The pension plan is employer paid, and most benefits are insured by the Pension Benefit Guaranty Corporation (PBGC).

How much is the average railroad pension?

The average age annuity being paid by the Railroad Retirement Board (RRB) at the end of fiscal year 2020 to career rail employees was $3,735 a month, and for all retired rail employees the average was $2,985. The average age retirement benefit being paid under social security was approximately $1,505 a month.

Do railroad workers get a pension?

Railroad Retirement Benefits. Both RRB and Social Security offer retirement, disability, spousal, and survivor benefits that are generally calculated in the same manner. ... For example, RRB offers unique unemployment and sickness benefits, as well as Tier II benefits that resemble private pensions.