tier 2 railroad retirement benefits are treated as social security. true or false

Expert Solution

False

Tier 2 railroad benifits are not treated like social security.Tier 2 benifits are treated like private pension

The Non social security equivalent benifit portion of tier I, tier II benefits, vested dual benefits, and supplemental annuities are all treated like private pensions for Federal income tax purposes.

This is because social security benefits based on age and service are not payable before age 62, social security disability benefit entitlement requires total disability, and the Social Security

Tier 2 benifits primarily include those in which early retirement benefits are payable to retired employees and spouses between ages 60 and 62, disability benefits, and other categories of unique RRB entitlements, the entire annuity may be treated like a private pension.

Tier 1 Railroad Retirement benefits that are designated as Social Security Equivalent Benefits, listed on Form RRB-1099, sent by the government to recipients, is taxed like Social Security. Other Tier 1 benefits and all Tier 2 benefits are treated as pension income under tax law.

ekkarill92 answered 2 years ago

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