What is the maximum railroad retirement benefit?
What is the maximum railroad retirement benefit? Maximum Benefits: The monthly amount of base year 2023 compensation that can be counted in determining the maximum amount of normal benefits payable to an employee in the benefit year beginning July 1, 2024, is $2,448.
How do I check my railroad retirement benefits?
You can call the Railroad Retirement Board at 877-772-5772 during normal business hours to speak to an RRB representative. If you have a touch-tone telephone, recorded information and automated services are avail- able 24 hours a day, including weekends and holidays.
Can you get a lump sum from railroad retirement?
The railroad retirement system also provides, under certain conditions, a residual lump-sum death benefit which ensures that a railroad family receives at least as much in benefits as the employee paid in railroad retirement taxes before 1975.
Do you lose railroad retirement if you quit?
If you leave the railroad within 5 years of employment, your Tier I benefit will be transferred in total to the Social Security system.