Retirement Plan

If we are lucky enough to collect. It is self funded and many die at a young retirement age. That is why the pension fund is so well funded.

Railroad retirement: vested after 5 years. Approx $90 per year of service. You must work one day in the month to get credit for that month. Must have 30 years AND be 60 years of age minimum to retire at 100%. Your spouse is eligible for an additional 50% on top of your retirement check if they are also at least 60 years old.However, there is no retirement medical for you or your spouse that I'm aware of. Union railroaders do not pay social security so you don't get both social security and Railroad retirement. Only the one which you've invested more into.

You actually make a good enough wage to put the money away in a plan to have a retirement fund.

Railroad retirement is an added extension to social security that can add an extra $10k to what you make each year. Added to the 5% 401k match and it's often a bit better than many large companies.