Would leaving railroad work and accepting a buy-out mean that an employee forfeits any future entitlement to an annuity under the Railroad Retirement Act?
As long as an employee has acquired at least 120 months (10 years) of creditable rail service or 60 months (5 years) of creditable service if such service was performed after 1995, he or she would still be eligible for a regular railroad retirement annuity upon reaching retirement age, or, if totally and permanently disabled, for an annuity before retirement age, regardless of whether or not a buy-out was ever accepted. However, if a person permanently leaves railroad employment before attaining retirement age, the employee may not be able to meet the requirements for certain other benefits, particularly the current connection requirement for annuities based on occupational, rather than total, disability and for supplemental annuities paid by the Board to career employees. In addition, if an employee does not have a current connection, the Social Security Administration, rather than the Railroad Retirement Board, would have jurisdiction of any survivor benefits that become payable on t
Related Questions
- If an employer fails to tell an employee that leave has been designated as FMLA leave, can the employer count the leave against the employees FMLA leave entitlement?
- Would leaving railroad work and accepting a buy-out mean that an employee forfeits any future entitlement to an annuity under the Railroad Retirement Act?
- Under what circumstances is leave designated as FMLA leave and counted against the employee s total entitlement?
