Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

DC / 401(k) Support Specialist
Actuarial Systems Corporation - ASC logo
Actuarial Systems Corporation - ASC
(CA / Telecommute)
Senior Actuarial Administrator
Group RHI logo
Group RHI
(Dallas TX / Houston TX / Telecommute)
Manager, Retirement Plan Documents
Transamerica logo
Transamerica
(Denver CO)
ESOP Consultant
Ascensus logo
Ascensus
(Atlanta GA / Telecommute)
Retirement Plan Administrator
Farmer & Betts, Inc. logo
Farmer & Betts, Inc.
(Tacoma WA / Littleton CO / Tualatin OR)
Project Manager Benefits Communication
BeneCom Associates logo
BeneCom Associates
(Acton MA / Telecommute)
Client Success Specialist
Ubiquity Retirement + Savings logo
Ubiquity Retirement + Savings
(AZ / CA / CO / FL / IL / KY / LA / MA / NC / NJ / NV / NY / OR / SC / WA / Telecommute)
Plan Document Specialist
Aimpoint Pension logo
Aimpoint Pension
(Pompano Beach FL / Telecommute)
Defined Contribution Plan Administrator
The MandMarblestone Group, llc logo
The MandMarblestone Group, llc
(Philadelphia PA / Telecommute)
Retirement Plan Administrator
Group RHI logo
Group RHI
(Dallas TX / Houston TX / Telecommute)
Retirement Plan Administration Consultant
TSC logo
TSC
(Edina MN / Telecommute)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

BenefitsLink > Q&A Columns >

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

Answers are provided by Robert S. Kaufman

Unreduced 60/30 Will Begin January 1, 2002

(Posted December 17, 2001)

Question 145: When signed into law by President Bush, how will the new unreduced 60/30 benefit affect early retirement reductions?

Answer: The new unreduced 60/30 provision will apply to new benefits that begin on January 1, 2002 or later. The only way retired workers who already receive a reduced 60/30 benefit can get the new higher benefit is by cancelling their original application, repaying all benefits received to date, and filing a new application with a beginning date of January 1, 2002 or later.

To start the process, you should contact the local RRB office where you filed your original application and ask them for a comparison between the reduced annuity you have already received and the new unreduced annuity. You need to find out how much you have to repay and decide if it is to your advantage to cancel and change benefits.


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.


Copyright 1997-2017 Robert S. Kaufman
Related links:

(restricted access)

(restricted access)

© 2020 BenefitsLink.com, Inc.