What are the railroad retirement benefits for 2023?

The monthly exempt amount for the first year of retirement in 2023 is $1,770. Exempt Amounts for Annual Earnings Test for Full Retirement Age Annuitants: In 2023, the annual exempt amount for full retirement age annuitants is $56,520. The monthly exempt amount for the first year of retirement in 2023 is $4,710.



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U.S. Railroad Retirement Board Tier I benefits, like social security benefits, will increase by 8.7 percent, which is the percentage of the CPI rise. This is the largest increase since 1981, when it was 11.2 percent. Tier II benefits will go up by 2.8 percent, which is 32.5 percent of the CPI increase.

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It is important to note that once you establish a current connection at the time your railroad retirement annuity begins, you never lose it, no matter what work you may perform thereafter.

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The railroad retirement system also provides, under certain conditions, a residual lump-sum death benefit which ensures that a railroad family receives at least as much in benefits as the employee paid in railroad retirement taxes before 1975.

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