I am 67 1/2. 140 months of railroad service in 70’s & 80’s. All other work under Social Security. Still working. My spouse worked under SS until age 55, she is 65. Based on MMSS software, she took SS at age 64, and I draw spousal under her SS. The plan was to defer my RRB to age 70, now I am told by RRB that I could take either my SS or RRB now, allow the other to accrue deferred credits until age 70, then switch. Is that correct? If so, which should I take now, then switch to other at 70? Thank you.

Hi,

I'm not an expert on Railroad Retirement (RR), so I can't fully answer your question. I can tell you that you can accrue delayed retirement credits on your Social Security (SS) retirement benefit rate from full retirement age (FRA) until age 70 even if you are drawing RR benefits during that time. I can't confirm if the reverse is true, though.

I also know that when you file for RR benefits they will only pay you the higher of a) your Tier 1 RR rate, or b) your SS benefit rate, plus any Tier 2 RR benefits to which you are entitled. Our maximization software isn't programmed to handle RR benefits, so it can only help you determine your best strategy with regard to SS benefits. Drawing SS spousal benefits while allowing your own benefit rate to grow until age 70 is likely your best strategy with regard to SS benefits, but if you have additional options with regard to RR benefits you will need to discuss that with a Railroad Retirement Board representative.

Best, Jerry