How does Railroad Retirement work?

[NScarbon]

All very good information. My bf has a interview in two days. I have been reading along with him all the rr info I can. What would you say the odds are when you get an interview? fifty fifty? I know it depends on the person. I am wondering how many people they call to the interview for each position opened? There are seven that he is getting interviewed for.

It depends on the railroad and the craft how many they interview for each position. I got hired by NS back in September and at my hiring session there were 24 applicants they selected for the session out of over 300 that applied. Out of the 24 only 13 showed up on time and we went forward in the process. In the end they selected me for the position, but they kept 2 backups incase something fell thru with me like false application, failed drug test, or physical.

[Pj]

You need age and months. The benefit I starting young is that your retiremt will be better than someone starting at 30 if you both made the same amount yearly due to having more time in the system

[COEN77]

I have read on this forum that to get full benefits from railroad retirement I have to meet two requirements: work until age 60 and 360 months of service. I am only 23 and just got hired on with NS starting next month, i thought that since I am starting my career at such a young age I would be able to retire at the age of 53. After reading some replies on this board I will have to work until 60 despite having done my 360 months of credible service is this correct?

You're partially correct retirement age is 60. The 360 months is credits with Railroad Retirement Board not with the railroad. There are some things which can affect getting credits furloughs, time lose for illness/surgery, time in the street for discipline ect....When I reached my 30th anniversery on the railroad I still lacked 11 months in credits for RRB because of furloughs. There have been a few attempts in the past by some of the rail unions to try and get a 55/30 better known as the 85 plan for retirement. None have been successful. During the 1980's under Ronald Raygun retirement age was increased on the railroads to 62 years old. It was finally lowered back to 60 around 5 years ago.

[Pj]

And 360 months can include any railroad that is defined by the rrb as an interstate carrier etc (basically not a tourist rr or one cutoff from the national rail network). In short, you could do 10 years at UP, another 10 at NS then finish out your last 10 at Amtrak and have your 30 (provided that you didn't miss a month anywhere in there).

Working just one day in a month will qualify the month.

[RDGTRANSMUSEUM]

if a tourist line pays into RRB ,you get the credit. I know my local ones here in PA do........you are correct on the one start a month thing. at this point i need 24 months,ill go back someday

[Pj]

Although not unheard of, not typically. Somewhere I have a copy of a letter of determiniation for RRB status for a railroad. If the tourist operation also provides a freight service, then there typically is no problem. If all they do is move people around a 2 mile loop, then typically not.

There is a possiblility that some of these operations may have been grandfathered in when there was a freight componet or spun off from another RR back in the day, but again...plain old tourist operations do not typically quailify. Thats how it was explained to me at least, could be wrong.

http://www.rrb.gov/pdf/bcd/bcd95-77.pdf

Some boring readings:
http://www.rrb.gov/blaw/bcd/line_haul_railroad.asp
http://www.rrb.gov/blaw/bcd/employer_co ... inated.asp

[DutchRailnut]

a lot of shortlines and regionals do not participate in railroad retirement.
and for example tri-rail in Florida does not participate.

[hardball]

I have worked for a state agency, and am eligible to draw retirement from them. I am about to begin a new career with the railroad at age 40. Can I also draw railroad retirement without a penalty? Most discussions here refer to social security. My state retirement is not related to social security, but is a public employees retirement system.

[COEN77]

I have worked for a state agency, and am eligible to draw retirement from them. I am about to begin a new career with the railroad at age 40. Can I also draw railroad retirement without a penalty? Most discussions here refer to social security. My state retirement is not related to social security, but is a public employees retirement system.

That's a good question. I know on the RRB retirement application it requires to list other pensions like government, military ect...Contact the local Railroad Retirement Board office they'll be glad to answer your concerns. Their number should be in the blue government section of the phone book. The website is alright but a little confusing to get direct answers.

http://www.rrb.gov

[railgirl]

Does your 401(k) effect the amount you collect from RR retirement? I know there are limits on how much you can work after you retire, are there limits on how much you can collect from your 401(k) per month?
Also as a railroader married to a railroader (no, I did not meet him out here, that happened before either of us worked out here) I was told that one of us will be able to collect the spousal benifit but not both.

Railgirl.blogspot.com

[Pj]

401k will not affect the railroaders retirement. If your a spouse of a railroader, your 401k amount will be deducted from your part of the pension. IE, if your RR spouse pension is 1000, and your 401k is 500, you will only get 500 from rr

[railgirl]

401k will not affect the railroaders retirement. If your a spouse of a railroader, your 401k amount will be deducted from your part of the pension. IE, if your RR spouse pension is 1000, and your 401k is 500, you will only get 500 from rr

I am a railroader and the spouse of one, and we both have seperate 401(k)s. I was told that one of us would collect the spousal payment not both, so one of us could collect 401(k) and one could collect spousal payment without effecting the other?

[Pj]

My understanding from the RRB, and from a married couple that I work with is the following:

You will receieve your benefit from his retirement minus what you get from your 401k
He will receive his benefit from your retirement minus what he gets from his 401k

You will both receive what your entitled to from your main normal RR retirement.

Your main retirement should not change based on being married to another railroader for the fact that your both paying the same taxes into the same system.

In any case, I'd call your local RRB office (and not the main number in DC as most of those telephone drones are pretty rude). Usually the local office's are pretty good. I'd also recommend sending one of those secure emails (its an option to send one to the local RRB office) and see what you get for a response.

RRB: (877) 772-5772
Secure email: https://secure.rrb.gov/211.html

[railgirl]

Thanks for all the info. I will contact the RRB, the one in Roanoke was pretty decent to me when I was furloughed. It will probably all change just when I get it figured out.


Railgirl.blogspot.com

[dequino67]

Damn.... so for a fella like me starting a second career here (at 46), I won't be able to retire until 76?

Brutal