Q. I’m an Engineer that qualified for the 1990 Separation Agreement. How do I claim the money?
A. Funds covered
by Article I of the 1990 Memorandum of Agreement are distributed upon termination of employment, retirement or death. If the eligible employee is deceased, the designated beneficiary must provide a death
certificate prior to distribution to Sonja Grigsby, Workforce Management at 817-352-2034.
For termination of employment
or retirements, a BNSF form must be completed and submitted to your local management which states that all seniority rights
will be relinquished as of an effective date. Typically, local management sends
an email to various BNSF recipients with notification of the retirement / resignation.
Upon notification, funds are distributed.
Retirement / Resignation
forms can also be faxed to 817-352-7453 to ensure notification is received.
Q. I have been out of active service for quite some time and do not know where to get the BNSF retirement
form or who to turn it in to?
A. If local management is
unavailable, forms can be obtained by calling Sonja Grigsby at 817-352-2034. Additionally,
forms can be submitted to request payment of the separation allowance by faxing a copy to 817-352-7453.
Q. What is my current balance?
A. Current balances can be
obtained via the BNSF Intranet by clicking on the Total Rewards link within Employee Online.
The Total Rewards link is also at the bottom of the Labor Relations website.
Q. Are taxes withheld from my current balance?
A. Yes. All payments made to current or retired employees are required by law to have Railroad Retirement taxes,
Federal taxes and any applicable State taxes withheld.
Q. What will my balance be after taxes?
A. The amount of taxes withheld depends on your individual situation.
Please consult a tax advisor for further information.
Q. Can I receive the money via direct deposit?
A. No. The funds are distributed
via a separate check to your current home address on record. If you have a new
address, please ensure you update your BNSF records.
Q. Can I directly rollover the money into an IRA?
A. No. The money is compensation
which is paid by BNSF. The funds are not considered or treated like a qualified
pension plan.
Q. How long does it take to receive the money?
A. After proper
notification, the funds are typically received by the recipient within two weeks.
Q. Can I change my beneficiary for the BLE Separation Allowance?
A. Yes. Beneficiary changes can be made by completing the HUM0028 BNSF corporate form. Forms can also be obtained via your local management or by contacting Sonja Grigsby at 817-352-2034. Signed forms may be mailed to the following address:
Sonja Grigsby, Labor Relations
2600 Lou Menk Drive
OOB-GL
Fort Worth, TX 76137
Q. When will my current balance earn interest?
A. Current balances will
increase 3.5% a year, on January 1st of each year, until a distribution is made.
Q. Are the funds automatically distributed when I retire?
A. No. The funds are distributed upon request or notification of death, retirement or resignation. It is the employee’s responsibility to request payment upon their retirement or resignation. If notification is not received, then the funds will not be distributed.
Q. Can I retire in one year and request the funds in another year?
A. Yes. Funds are distributed upon request or notification of death, retirement or resignation. It is possible, for example, to retire during December 2006 and receive the funds
in 2007. The balance will increase January 1st of the New Year but
the entire amount of Railroad Retirement taxes will be withheld.
Q. Where can I obtain a BNSF retirement form?
A. BNSF retirement forms
can be obtained from your local management or by calling Sonja Grigsby at 817-352-2034.
Q. Can I have my spouse, local chairman or financial advisor call to receive my current balance?
A. No. Employees
eligible to receive payment must call personally to get information about their current balance. For privacy reasons, balances will not be released to other parties.
