Blue Ridge ESOP Associates
(Charlottesville VA / Telecommute)
Retirement Plan Consultant
Cetera Retirement Plan Specialists
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|Question 900: I retired at age 60 with 39-1/2 years of service. When I'm 62, will my retirement check be increased?|
Answer: When you retired at 60, you were awarded a full annuity because you had more than 30 years of rail service. All of your rail and Social Security earnings were used to compute Tier 1 and all of your rail earnings were used to compute Tier 2. Therefore, you are receiving the maximum amount based on your earnings. There will be no increase when you reach 62.
After almost 15 years, I have reached another "milestone" with the posting of the 900th Question & Answer to this column. I want to again thank the loyal readers who continue to submit interesting questions.
The Railroad Retirement program is now 77 years old and it has provided important retirement, survivor & Medicare benefits to more than 5 million people.
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.