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Answers are provided by Robert S. Kaufman
Railroad Retirement Benefits and Life Insurance Are Seperate
(Posted August 7, 2001)
Question 123: With the proposed changes in railroad pensions, I can retire at 60 on a full pension. But I've heard that I will have to pay my own insurance benefits until I'm 61. Is that true? What about my wife's insurance (she's 14 months younger than I am)?
Answer: Railroad Retirement is administered by the Federal government and provides monthly and lump sum benefits for retirees and their families. Neither health nor life insurance coverage (except for Medicare) are part of the system. Those benefits are negotiated between each railroad and the affected railroad labor organizations. They are privately administered.
I suggest you ask your employer or your union repersentative for an explanation of those benefits and what your options are.
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