Railroad Tier 1 And Tier 2 2024. Specifically, the tier i portion, mirroring social security benefits, will see a boost of 3.2 percent, corresponding to the percentage of the cpi rise. Now, let's break down the tier one work deductions.

Tier 1 railroad retirement benefits are the part of benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. Social security’s maximum taxable compensation in 2024 is also $168,600.