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Old 10-14-2010, 09:25 AM
29,774 posts, read 34,860,277 times
Reputation: 11687


Originally Posted by litlux View Post
Everyone who pays into social security gets to collect something if they accumulate enough "quarters" and live to the qualifying age, and yes, you can still start collecting at 62, though at a significantly reduced rate.

I could give you a more detailed answer, but explanations of how the system works are everywhere on the internet, including the SSA site itself, so it is easy enough to learn the basics if you want.

Oh, and military retirees who also collect SS are called "double dippers".
Some would say double dippers others would call them double entitled (paid their dues) to. In fact I know a number of folks who went into the military with that as their retirement plan. 20 years military and 20 in another line of work. If government work they have two government pensions and if state or local gov't two pensions and SS. They are now comfortable and rewarded for their risk and wisdom.
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Old 10-14-2010, 09:34 AM
433 posts, read 991,748 times
Reputation: 389
Jackslade, see item #6 on this web page. It sounds as if your wife's RR annuity will be reduced by any social security benefit to which she is entitled.

Railroad Retirement Spouse Benefits (http://www.rrb.gov/opa/qa/pub_0909.asp - broken link)
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Old 10-14-2010, 09:55 AM
Location: Forests of Maine
30,679 posts, read 49,437,227 times
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As was explained to me when I retired from Active Duty; and is repeated each year at annual 'Retiree Assistance' meetings held at my nearest Navy base; when I become eligible for SSA payments my Navy retirement pay will be reduced.

Right now I get approximately $1490/month. Say my SSA payments are projected to be around $700/month. When I reach 65 and start my SSA payments I will then receive around $700/month from SSA, and I will then receive around $790/month from the Navy. [700 + 790 = 1490]

The total amount I get each month will remain the same.

My SSA policy is mine. I paid into it, even when it was available to me to simply revoke my SSA policy and stop paying into it. I elected to keep my SSA policy and to continue paying into it. So that pay-out will not be effected by my military pension.

However my Navy pension will be reduced by that exact amount.

So you can say that I will be receiving pension payments from two different sources. However do not think that my total monthly income will change, it should remain the same.

Which is why I object to anyone calling it 'Double Dipping'.

On the other hand, I do have friends who have military retiree pensions and whose disabilities are not bad, so they can seek a second career where they can strive to get a second pension. It is my understanding that those people are the ones who Clinton was focusing on for 'Double-Dipping'.

For example doing 25 years in the Army; and then 25 years doing Law Enforcement for the municipality of Oklahoma City. They would get one pension from the Army, and a second pension from the municipality of Oklahoma City.
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