Leaving RR after 12 years

[Truckin88]

All

Question here and I hope you can give me some helpful advice. If I leave a RR that is RRB after 12 yeArs how would this affect retirement. If I leave for a federal job such as FRA, dot or ntsb how does that work. Looking at all options, with pandemic damage I sense layoffs coming.

Thamks

[Erie-Lackawanna]

A lot of good info to help you think this through at www.rrb.gov.

Short story: you’re vested, so you’ll get Railroad Retirement, not social security. All your SSA earnings will go to the RRB and be folded in to your RRR benefit. However, you’ll lose your age 60 full benefit qualification (you’ll have to wait until 62 or full SSA retirement age to collect) and your current connection, which means no disability pension and no survivor benefit if you croak before your spouse. Your Tier 2 benefit will be based only on your Railroad earnings. Working for NTSB, FRA, DOT (?) and certain other agencies will protect your current connection.

Best of luck to you.

Jim

[Truckin88]

Ok and what happens if I were to with a private firm or state agency that does not have an exception.

[Erie-Lackawanna]

That’s the scenario I described in the “short story” paragraph above. Any Non-Railroad SSA earnings get folded into Railroad Retirement and you’ll break your current connection.

Jim

[Truckin88]

Understood now, so the federal agencies, essentially nothing changes its like working for the RR? Thanks for all info, I don't want to leave but preparing for the worse as the pandemic rolls on.