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Current Retirees Will Benefit From Pending Changes to Railroad Retirement
(Posted June 2, 2001)
Question 104: My Railroad Retirement benefit begins in June 2001. I have 37 years of service, and I just turned 60. If and when the proposed changes to the Railroad Retirement System become law, will the reduction in my annuity for retiring before 62 be eliminated back to June 2001?
Answer: The changes to the Railroad Retirement program have been introduced in the 107th Congress as H.R. 1140. The bill is currently being considered by House committees.
As H.R. 1140 now stands, the age reduction in 60/30 annuities will be retroactive to January 1, 2001. So, if the proposed legislation is enacted as it now stands, your annuity will be adjusted and increased back to the start date.
One note of caution. Until legislation is passed by both Houses of the Congress in identical form, there is always a chance that key provisions such as effective dates could be modified.
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