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BenefitsLink > Q&A Columns >

Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Financial Advantage by Taking Railroad Retirement at 62 and Social Security at 66-1/2?

(Posted November 11, 2013)

Question 1073: I'm vested with eleven years of service after leaving the railroad in 1990. I have worked since then. I'm 56 now and wonder if I can continue working and collect either Railroad Retirement or SS at age 62, and then at age 66-1/2 receive benefits without a reduction for age. Or is it more beneficial to wait until 66-1/2 to file for both at the same time?

Answer: There could be some financial advantage if you take a reduced Railroad Retirement Annuity at 62 and wait to take Social Security until you reach your full retirement age at 66-1/2. Depending on the monthly rates, you could wind up with a higher combined monthly benefit.


Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.


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