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Answers are provided by Robert S. Kaufman
Impact of a Buyout on Railroad Retirement Benefits
(Posted April 19, 1999)
Question 19: I worked for the Chicago & Northwestern for 6 years, then the Southern Pacific for 11 years. Then I accepted a buyout rather than move to Los Angeles. What type of retirement benefits can I look forward to?
Answer: With 17 years of Railroad service, you are vested and will be eligible for Railroad Retirement benefits at Age 62 (on a reduced basis) unless you become totally disabled for all work before then. In that event, you could qualify for benefits before Age 62.
Keep in mind that with 17 years of service, your monthly payments will be below average & fully reduced for Social Security Payments. You will also qualify for Medicare through Railroad Retirement when you become 65 unless you become disabled before then.
To get an estimate of what you'll receive from Railroad Retirement, you can ask the nearest RRB District Office to give you one.
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