Retirement Plan Consultant
Cetera Retirement Plan Specialists
Blue Ridge ESOP Associates
(Charlottesville VA / Telecommute)
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|Question 677: At age 62 does my premium on railroad insurance decrease? If so by how much? What is the maximum amount I can earn being retired without being penalized?|
Answer: Questions about your railroad medical insurance premiums should be directed to your employer.
Retired rail employees who receive Railroad Retirement are subject to the following earnings restrictions in 2009:
If you will not reach your full retirement age in 2009, your benefits will be reduced when you earn over $14,160.
If you reach your full retirement age in 2009, your benefits will be reduced if your earn over $37,680.
If you have reached your full retirement age before 2009, there are no restrictions on your earnings.
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.