Railroad Retirement & Social Security
Hi, I am a wife of a RR worker and 2 years older. My question is that I would like to retire at 55 (I do have roth ira and s@p 500 plus my own 401k) could I collect my own SS starting at 55 then when i am 64 start to collect on my husbands pension and stop receiving SS? I know you cannot do both at the same time and technically I wouldn't be. But at least I could get some of what I have worked for and not just throw it away.
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!
My husband worked for the railroad for 30 years and now gets railroad retirement. As a result, I also get railroad retirement. Can I also get social security?
I retired from home depot in august 2013. IN 2015 I needed to go back to work I went back to home depot. I was only gettin tier 2 railroad which was 488.13 a month. When i went back to work for home depot railroad said they had to cut the 488.13 in half . My husband retired from the railroad after 36 years. I do not think thats right to do that.
I am 61 1/2 and had my first job 45 years ago. 10 1/2 years of that was for a railroad. So, I am entitled to both Social Security benefits and RRB benefits once I reach age 62. I was told I could start taking Social Security benefits at age 62, continue to work, and wait until my full retirement age (66 years, 4 months) and then retire from Railroad Retirement to get the larger retirement benefit. Can you confirm this for me please? Does taking Social Security at 62 in any way affect the RRB tier I benefit I would be entitled to receive at full retirement age? Thank you.
At age 62 will I be able to receive divorced spousal benefits from the railroad and at retirement age draw my social security benefits?
Potentially, yes. However, you can only receive the higher of your Social Security benefit rate or your Tier 1 Railroad rate, not both simultaneously. In addition to the higher of those 2 rates, you could be paid any Tier 2 Railroad benefits to which you are entitled.
I have a unique situation. I retired at the age of 60 from 25 years of teaching in Michigan. I am married to a retired railroad man who worked for 42 years. When I retired I began collecting approximately 1/2 the amount my husband received from Railroad Retretirement. I will be 70 in August. I just received my SS Benefit schedule that says that at 70 I would receive $2,190 in SS. I currently receive $1418 in RR retirement, a $772 difference. Can I now apply for SS at 70 or does my starting RR retirement at 60 end that possibility?
Well, I just finished reading your book, Get What's Yours and I need a little clarification on my particular situation. I was married for 21 years to a railroad worker. He started drawing his RRR benefit when he was 60 (he turned 62 last month). He also worked in the covered sector but I doubt he had enough years to qualify me for social security divorced spousal benefit. I remarried at age 59 (I know, I should have read your book earlier) but am now thankfully divorced again.
hi Larry, I am a divorced wife of a retired railroad employee, I will be 62 in a few months, can I collect railroad retirement from him and social security from me?