Working After Retirement - Last Nonrailroad Employer

• If employee or spouse continues work for last pre-retirement nonrailroad employer
  • Tier I and vested dual benefit subject to deductions as explained on previous slide
  • In addition, tier II and supplemental payments reduced by $1 for each $2 of earnings - maximum reduction of 50%
  • Tier II and supplemental payments affected by all earnings, regardless of amount, and, unlike tier I, deductions continue after full retirement age 

Notes:

• Last pre-retirement nonrailroad employment is employment that continues through the annuity beginning date or ended within 6 months of the annuity beginning date. Work that begins on the same day as the annuity beginning date is not last pre-retirement nonrailroad employment.
• Spouse benefit subject to tier II deductions not only for spouse’s earnings, but also for employee’s. However, spouse’s earnings have no effect on employee’s annuity.