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Answers are provided by Robert S. Kaufman
Early Retirement Benefits Are Reduced
(Posted May 19, 2011)
Question 820: I left the railroad in 1990 with over 10 years of service. I'm now 54 and plan to retire at age 62. How much of a reduced benefit will I receive, and would I receive more if I retire at age 65?
Answer: You were born in 1957 so your full retirement age is 66 and 6 months, not age 65. You will reach that age in either 2023 or 2024.
If you decide to retire at 62, your benefits will be reduced by 27.5% of what you would receive at 66 and 6 months.
The best place to get an estimate of your your future benefit is the Railroad Retirement Board. Their toll-free number is (877) 772-5772.
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