RRR and 401K

General discussion about working in the railroad industry. Industry employers are welcome to post openings here.

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Re: RRR and 401K

Postby nsdq160th » Wed Oct 31, 2018 9:55 pm

freightguy wrote:Nsdq106th,

A lot of people would disagree with you. Especially LIRR retirees vs collecting social security. Staying a year at the LIRR is rare unless you’re forced out. They also have a 457 plan also.

I got flocked!!! Flocked badly!! Crappy bs foreman made BS about my skillzzzzzzz....
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Re: RRR and 401K

Postby Cowford » Tue Nov 13, 2018 1:51 pm

Cowford wrote:
I may be wrong, but just as Tier 1 gets you FICA credits, aren't FICA payments credited to your Tier 1 calculation?


They weren't credited to mine.


Wayside, I ran the annuity calculator and my FICA payments showed up in the results, so it appears as they are credited.
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Re: RRR and 401K

Postby Wayside » Tue Nov 13, 2018 2:07 pm

Cowford: Okay I think the difference for me is that I retired with RRB almost ten years after the period in which I was paying into FICA. When they calculate the annuity, they take the last five years of earnings into consideration, all of which were RRB for me. I had way more than enough months of RRB service by that point (360+) to qualify for full retirement. I think that's how it works, anyway. I could be mistaken.
We don't know what we don't know.
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Re: RRR and 401K

Postby Gadfly » Tue Nov 13, 2018 2:40 pm

Wayside wrote:Railroad retirement's positive qualities are a fairly well-kept secret in this country. I'm okay with keeping it that way, so yeah, it's a total scam. :wink:


I just know I don't want it messed with!

GF
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Re: RRR and 401K

Postby Wayside » Tue Nov 13, 2018 4:12 pm

Gadfly wrote:I just know I don't want it messed with! GF


Amen.
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