Tier I benefits are also provided to spouses of employees qualifying for Railroad Retirement benefits. Consistent with Social Security, a spouse can also receive benefits at any age if he or she is caring for a child under age 16 or a child who became disabled prior to age 22.

Does BNSF have a pension?

The BNSF Retirement Plan (“Pension Plan”) is a qualified, defined benefit pension plan, that provides retirement income benefits to eligible salaried employees of Burlington Northern Santa Fe, LLC (BNSF) and its affiliated companies that have elected to participate in the Plan.

Can you receive social security benefits and railroad retirement benefits?

No. There are no exceptions to the railroad retirement annuity reduction for social security benefits. 4. Can Federal, State, or local government pensions also result in dual benefit reductions in an employee’s railroad retirement annuity?

How does social security affect railroad retirement?

The Social Security Administration determines the amount of the social security benefit due, and the RRB determines the amount of the railroad retirement annuity due. (As stated above, the tier I portion of a railroad retirement annuity is reduced by the amount of the social security benefit due.)

Why are railroad employees exempt from social security?

Railroad workers don’t pay into in the Social Security system. They instead pay higher taxes than most workers who do pay into Social Security. 1 Those taxes are sent to the RRS under the Railroad Retirement Act (RRA). They’re used to fund basic retirement benefits for railroad workers.

Are there Social Security benefits for railroad spouses?

Railroad Retirement Tier II benefits are similar to a private defined benefit pension, states the SSA. Spouses of railroad workers can receive Tier II benefits in addition to receiving Social Security benefits, but divorced spouses only receive Tier II benefits if the benefits are awarded as a portion of a property settlement.

When do railroad workers qualify for RRB disability?

To get the full RRB disability amount, a railroad worker must have at least ten years of covered employment. If a worker has only five years of employment with the railroad (after 1995), then he or she can qualify for RRB disability benefits if the worker has earned at least 20 Social Security work credits from the last ten years.

What’s the difference between RRB and Social Security disability?

Unlike Social Security, workers covered by RRB are also eligible for an “occupational disability” benefit. This benefit helps people who can still do some type of work, but whose disability prevents them from doing their normal railroad duty.

How are Social Security and railroad benefits calculated?

If you apply for Social Security (SS) benefits, your SS benefit will be calculated using just your Social Security earnings. Instead of paying you directly, Social Security will ‘certify’ your benefit to the Railroad Board (RRB), who then determines your combined benefit.