Section
105 of the Railroad Retirement Survivor's Improvement Act
of 2001
NRRIT
Questions and Answers
Reports:
Annual Management Reports
Quarterly
Reports
|
The National Railroad
Retirement Investment Trust (NRRIT, or "the Trust")
was established pursuant to Section 105 of the Railroad Retirement
Survivor's Improvement Act of 2001 (the "Act") that
was signed into law on December 21, 2001. The Act set
February 1, 2002 as the date that the Trust was to become effective.
The sole purpose of the Trust is to manage
and invest Railroad Retirement assets. The Act authorizes
the Trust to invest the assets of the Railroad Retirement
Account in a diversified investment portfolio in the same
manner as those of private sector retirement plans. Prior
to the Act, investment of Railroad Retirement Account assets
was limited to U.S. government securities.
The Trust has no powers or authority
over the administration of the benefits under Railroad
Retirement. Responsibility for administering the
railroad retirement program, including eligibility determinations
and the calculation of beneficiary payments, remains with
the Railroad Retirement Board (RRB). The Trust is
a tax-exempt entity independent from the federal government. It
is domiciled in and subject to the laws of the District
of Columbia. |