Planning on collecting your Survivor Annuity and still keep 👔working .

Learn 📚 about the possible deductions from continuing to work and collecting from the RRB.

Understand 💡 the impact of these deductions on your overall retirement plan.

Do you 📅 plan to start collecting your Survivor Annuity?

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Disclaimer: This video is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. Highball Advisors encourages you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Highball Advisors, and all rights are reserved.

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Railroad Retirement Survivor Annuity is a benefit provided to surviving spouses and children of deceased railroad workers. The amount of the annuity is based on the deceased worker’s railroad retirement benefits and the survivor’s age and relationship to the deceased.

One factor that can affect the amount of the Survivor Annuity is the survivor’s work earnings. The Railroad Retirement Board (RRB) has specific rules regarding how working affects a survivor’s annuity.

If the survivor is under their Full Retirement Age (FRA) and working, their annuity may be reduced depending on how much they earn. If the survivor earns more than a certain amount, their annuity may be reduced dollar-for-dollar. However, if the survivor is over their FRA, there are no earnings limits and they can continue to receive the full annuity regardless of how much they earn.

It is important for survivors to report their earnings to the RRB promptly to ensure that their annuity is adjusted accordingly. Failure to report earnings can result in overpayments that the survivor will have to repay in the future.

On the other hand, if the survivor is receiving a railroad retirement disability annuity and also working, the rules are a bit different. The survivor’s earnings must be reported to the RRB, and their annuity may be subject to reduction if their earnings exceed certain limits. However, there are special rules that allow disabled survivors to continue receiving their full annuity if they work part-time or are engaged in vocational rehabilitation.

In conclusion, working can affect a survivor’s Railroad Retirement Survivor Annuity depending on their age, earnings, and disability status. Survivors should be aware of the rules and regulations regarding work and their annuity to ensure that they receive the correct amount of benefits. It is important to report earnings promptly and accurately to the RRB to avoid any issues with overpayments or underpayments.