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Who Should I Contact About My Railroad Retirement? Thumbnail

Who Should I Contact About My Railroad Retirement?

Tier 1 Tier 2 Video Annuity Retirement

Navigating your railroad retirement entails contacting the right entities. Hi, I'm John McNamara from Highball Advisors Railroad Retirement Whiteboard, and today, let's clarify who you should reach out to for various aspects of your retirement plan.

First up is the Railroad Retirement Board (RRB). They handle annuity payments, tax withholdings, and issues related to survivor annuities for widows or widowers with a connection. Anything concerning these matters, direct your inquiries to the RRB.

Next, consider Social Security. If you're a railroader with fewer years of service, you may file for your railroad retirement first to safeguard your Social Security benefits. Later, file an application with Social Security. Ensure you inform the RRB to prevent overpayments.

If you find yourself without a connection, Social Security becomes your go-to for survivor benefits, despite your railroad employment history.

Lastly, for all matters concerning payments and taxes, including estimated taxes, income tax returns, and handling overpayments, turn to the IRS.

Navigating these entities efficiently can save you time and frustration. Don't hesitate to reach out to the right organization for your specific needs. And if you found this video helpful, don't forget to subscribe and click the notification bell. We're aiming to reach 10,000 subscribers, and your support means a lot. Until next time, stay safe, stay on track, and take care. Goodbye for now.

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Disclaimer: This article 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 from Highball Advisors, and all rights are reserved.