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Railroad Retirement Payroll Taxes
(Posted February 5, 2013)
Question 966: I am no longer employed with the railroad. I am not old enough to retire but would like the contributions I paid into my retirement fund. Am I allowed to receive my contributions back?
Answer: The deductions from your payroll check are not "contributions" but actually Federal taxes. They cannot be refunded or rolled over in another retirement fund.
The good news is, they are not lost. If you are not vested in Railroad Retirement when you retire under Social Security, your rail earnings will be combined with your Social Security earnings and used to determine your Social Security benefits.
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