Subscribe Now!
Free Daily News, Jobs, Webcasts, Discussions
Post and Distribute
Your Jobs
ARPA News
ARPA Webcasts

Featured Jobs

Distribution Specialist

Spectrum Employee Benefits, Inc.
(Remote / MN / ND / SD / WI)

Spectrum Employee Benefits, Inc. logo

Retirement Plan Consultant

DWC - The 401(k) Experts
(Remote)

DWC - The 401(k) Experts logo

Product Support Specialist

ftwilliam.com / Wolters Kluwer
(Remote)

ftwilliam.com / Wolters Kluwer logo

ERISA Attorney - Qualified Plan Associate

Trucker Huss, APC
(San Francisco CA / Los Angeles CA)

Trucker Huss, APC logo

Senior Implementation Manager

Ubiquity Retirement + Savings
(Remote / San Francisco CA / AZ / CO / FL / IL / KY / LA / MA / MS / NC / NJ / NV / NY / OH / OR / RI / SC / TN / TX / WA)

Ubiquity Retirement + Savings logo

Account Manager for CDH and COBRA

ProBenefits, Inc.
(Remote / Winston Salem NC)

ProBenefits, Inc. logo

Senior ERISA Compliance Specialist

Hooker & Holcombe
(Remote / Bloomfield CT)

Hooker & Holcombe logo

401(k) / DB Sales

Farmer & Betts, Inc.
(Tacoma WA / GA)

Farmer & Betts, Inc. logo

Defined Benefit Pension Administrator

Actuaries Unlimited, Inc.
(Remote)

Actuaries Unlimited, Inc. logo

DC/DB Retirement Plan Administrator

Steidle Pension Solutions, LLC
(Remote / NJ / PA)

Steidle Pension Solutions, LLC logo

DC Senior Plan Administrator

Steidle Pension Solutions
(Remote / NJ / PA)

Steidle Pension Solutions logo

Free Newsletters

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

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

BenefitsLink > Q&A Columns >

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

Answers are provided by Robert S. Kaufman

Early Retirement At 62 With Less Than 30 years

(Posted March 14, 2004)

Question 410: I used to work for a railroad. I left and came back several times but my total time with them was a little over 10 years. I was always told that I would be able to draw Railroad Retirement when I was old enough. I will be 59 in November and I am starting to think about retirement. My question is, how old do I need to be before I can receive a pension?

Answer: With 10 years of service, you can qualify for Railroad Retirement at 62 on an age-reduced basis. At 62, you will receive each month 75% of what you would receive each month if you wait to start receiving your benefit at age 66 (which is the "normal" retirement age for you).

Your benefits will consist of two components called Tiers.
Tier 1 will be reduced by any Social Security retirement benefit that you receive.

If you are interested in applying at age 62, you should contact the local office of the Railroad Retirement Board about three months before your 62nd birthday and file an application for 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)

© 2021 BenefitsLink.com, Inc.