I am trying to get some specifics. I am currently 65, wife is 62. Will be retiring from rail road in 2017 (age 66) . Been there for the last 26 years but my division didn't go into the Rail Road Retirement system until 6 years ago. I don't really need to file for full RRB or SS benefits right away so would like to know if I would be able to file SS under a restricted application, accrue delayed credits and then file for full RRB. Will the delayed credits I earn for waiting transfer to my RRB benefit. Its my understanding that your Tier 1 benefit is basically SS. Its tough to find the answer because people who know about SS only know about SS and those who know about RRB only know about RRB. Can't find anyone that can marry the two.

Thanks for your help.

Hi,

I can't give you specific information because I don't know all of your potential benefit rates. I can tell you, however, that it is possible to accrue delayed retirement credits from Social Security, whether or not you currently receive Railroad Retirement benefits, or do so in the future.

What you will eventually receive if you file for benefits from both programs is the higher of:
1) Your Social Security benefit calculated without regard to your railroad earnings; or,
2) Your tier 1 Railroad Benefit.
In addition to the above amount, you will be paid your tier 2 railroad benefit.

If your wife is eligible and files for her retirement benefits, you could potentially file a restricted application for spousal benefits on her record when you reach full retirement age, which is 66 in your case. If you haven't yet filed for Railroad benefits at that time, that's all you'd receive initially. You could then file for your own Social Security retirement benefits at age 70, at which point it would be 32% higher than the age 66 rate. If this amount would be higher than your Social Security spousal benefit and tier 1 railroad benefit, this may be your best option.

Best, Jerry