Leo et all..some comments about retirement...
1. It was my understanding..even in my railroading days (1956-78) that
mandatory retirement for engineers was 70. Trainmen could, as Leo has
mentioned, work..I guess as long as they could pass the physical exam. I've
mentioned
before that on trips I made with my Grandfather in the 1940's out to
Sheridan Wyoming via Lincoln-Alliance-Edgemont etc. There were several old
Conductors, I remember one whose name was Tom Campbell who was well past 80 at
that
time...I well remember my grandfather talking with others and telling about
how many "generations" of trainmen he had seen come and go on that end of the
railroad between the early 1900's and that present time...He would say "I hear
some of these guys (referring to some of the "octogenerians" still working
saying..."Why don't that old SOB (He didn't say SOB, but used the complete
name) retire and give somebody else a chance"
2. As to a "lump sum" settlement for railroad retirement...I don't believe
it...That's just not an option. The RRR is an "annuity" (that's
:"insurancese" for a stream of payments). If someone would like to prove me
wrong I'm
open, but I've got to see "chapter and verse" to support your opinion...not
something like' I heard old Charley did it".
3. As to retiring, taking your RRR and then starting to work for another
railroad..That ain't possible either..When you take your RRR annuity you sign
that you understand that if you are employed by any entity covered by the RRR
Act you forfeit your RRR benefits....You can of course draw your RRR and work
in another industry and build up SS credits.
RRR has a few different "twists" than Social Security...ie...because my wife
continues to be employed in the same profession she was at the time that I
took my annuity she forfeits 1/2 of her "Tier 2" benefits. If she were to
change jobs, she could draw the full Tier 2 she is entitled to under my
retirement.
So there
Pete
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