Hello Larry, my apologies but I forgot to include some information in a previous question (pasted below). I am actually elidgible for both SS and RR having worked 26 years under SS and the last 10 years under RR. I am 59. At 62 can I file for early payment under SS but then at full retirement age 66.5 switch to a payment under RR in order to receive an unreduced payout?.
My previous question was related, but focused on me claiming a spousal SS payout at 66. See below. Thanks much!
Hello Sir,
I am 59 and just forced into retirement. I am elidgible to claim RAilroad Retirement at 62 but desire to wait until 66 to get a larger payout. My wife is 55 and will be elidgible for social security at retirement age but our plan is for her to claim the larger RR check based on my work record. My question, when I turn 62, can I claim a spousal social security benefit based on her record then at 66 switch to claim my own Railroad Retirement benefit? And, if I can do this oiled t have any adverse impact on my eventual Railroad Retirement payout?

Thank you.
James

Hi,

Yes, you could potentially file for reduced Social Security (SS) retirement benefits at age 62 and then file for Railroad Retirement (RR) benefits at full retirement age (FRA). You couldn't, however, draw SS spousal benefits on your wife's record until she starts receiving her benefits, and you would only be eligible for spousal benefits if 50% of your wife's full retirement age rate (PIA) is higher than your own PIA. I can't tell you whether or not what you have in mind would be your best option, though.

RR benefits consist of 2 tiers. Tier 1 is essentially a substitute for Social Security, and if you are already receiving SS benefits when you file for RR benefits, you will only be paid the higher of your SS or RR tier 1 rate, plus any RR tier 2 benefits to which you are entitled. I'm not an expert on the Railroad Retirement system, so I can't tell you how your tier 1 and tier 2 rates will be calculated. You may want to try contacting the Railroad Retirement Board to pose your question to them.

Best, Jerry