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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.
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