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I have 13yrs pension time with GE Lighting if I get 22yrs with RailRoad I will be 60 will I receive 2 pensios?

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Will the 13yrs pension time be drawn from GE and 22yrs pension time be drawn from the RR if and when the time comes.

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  1. If you have a paid-up company pension from your previous employer you will be able to draw a company pension in addition to RR retirement.

    I should qualify that by saying I have never heard of a case where you couldnt draw both, I cant imagine  scenario where you would lose a company or union pension.

    You wont be able to "double dip" on social security benefits though. Most other retirement plans should be ok.


  2. You have to have 30 years to retire at age 60 under the US Railroad Retirement Board annunity.  Otherwise, your pension will be lower.

    You can draw off both, but you won't draw a full pension off both.  I don't know what GE's pension requirements are.  But RRB will require that you either get in 30 years or work to age 65 to draw a full pension.  That 13 years at GE Lighting doesn't mean anything to RR retirement.

  3. Under the current national agreement you have to be 60 years of age and have 30 years of service in railroading to retire with full benefits. You can retire at the time you are referring to but there will be a reduction in the amount you will receive from railroad retirement. This will also be balanced out with whatever retirement you will have from GE. I guess the answer your looking for is, Yes, you can draw money from both, but the railroad portion could be reduced enough that it might be better to just draw from one or the other depending on which one will be greater and have more benefits available. And please don't listen to anyone who is not a railroader. They don't understand anything about railroad retirement. It is a complete and separate entity from anything else and has it's own set of rules and regulations that the regular public does not understand. You will find this out the longer you are a railroader.

  4. Yes, You will get two separate checks/electronic transfers when you actually retire.  

    Realize that the first pension will be quite small since US pension benefits are typically not adjusted for inflation and typically designed to require around 30 years of service to receive the full amount.  If based on pay, it will also be calculated based on earnings you had with the company prior to quitting.  

    On the positive side, many private plans would like to either cash you out or get you started in payment as soon as possible.  You should contact the GE Lighting plan administrator to see if a lump sum is available now or, if you are early retirement eligible (generally 55+) whether you can start your benefit now.

  5. As long as you work long enough to vest in a company's pension, you can receive any number of pensions, there is no limit.  And it looks like you have served a considerable number of years at both places.  However, you should contact the administrator of the pension plan if you are concerned about your eligibility.  

    Another good resource for retirement information is the Employee Benefits Security Administration (http://www.dol.gov/ebsa/).  They have regional offices across the country, staffed with benefit specialists who can answer people's questions about their health or retirement benefits (Toll Free 866-444-3272).

  6. sure why not you earned them

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