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Rail Worker Previously Received Settlement for On-the-Job Injury
(Posted August 3, 2013)
Question 1038: I have over 120 months of Railroad service, beginning in 1972. In 1987 I lost sight in one eye -- I can only see light. This was while working on a short line railroad system. As part of the settlement I receive $300 per month for life. Since then, I have gone to work for a factory -- 25 years. I will be 62 in July 2014 and I am thinking of an early retirement. I can draw $866 per month in Social Security. Can I still draw Railroad Retirement? If so,will this affect the amount of Social Security I get? And if I am entitled to Railroad Retirement, how much can I expect to receive? Do I have to wait until I am 66 to receive this?
Answer: First, you can receive both Railroad Retirement and Social Security as early as 62. If you receive both benefits, your Tier 1 of your Railroad Retirement will be reduced by the amount of your Social Security.
You should contact the Railroad Retirement Board to get an accurate estimate of your benefits. Their toll-free number is: (877) 772-5772.
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