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He was divorced in another county. I have asked him about his divorce settlement but he never says anything except he will support his kids til they graduate college and his ex will not get any part of his railroad retirement.
Sometimes I wonder if he is telling me the truth. Am I crazy to wonder or should I just let it go and risk ending up supporting him in our old age? Do railroaders retire well or are they dirt poor. He keeps me pretty much in the dark. I am suspicious because of my own retirement and age. I am a lot younger.

2007-04-28 10:29:44 · 3 answers · asked by happydawg 6 in Business & Finance Careers & Employment

He will retire in about 5 yrs and I work full time and make just as much if not more than he does. I am 12 yrs younger than he is.

2007-04-28 12:56:46 · update #1

3 answers

I would pursue this immediately; it is probably the #1 issue in your total financial future. Railroad retirements are one of the best out there. I would contact the county of his divorce, ask if the records are public, and what it would take to get a copy.

Is he already retired? If not, he will probably have some forms requiring him to include you in his retirement for continuing payments if he dies first (at a reduced amount from his maximum), or you would be asked to sign off your rights for him to get the maximum as long as he lives - with no residual to you if he lives. You 2 can purchase a life insurance policy on him if he is in good health, and that is usually a much better route for you. The process is called pension maximization. The sooner you start, the cheaper it is. You would own the policy, for your own protection, and he can receive the highest income for as long as he lives. If he dies first, the insurance purchases you and equivalent income. I don't know what state you are in, but call if you want info or a referral 1-888-686-4734. I've been a Chartered Financial Consultant for 20 years.

I have found situations where marriage or divorce papers have not even been filed. A marriage ceremony, papers signed, but the official never filed the papers. Do check on your status.

2007-04-28 11:21:32 · answer #1 · answered by Anonymous · 0 0

Railroad have great retirement. In fact they do not even pay in the Social Security System they have there own fund. was made in 1935 before Social Security System.

I know this sound way off but look it up for your self. key word "Railroad Retirement Board (RRB) "

2007-04-28 10:50:05 · answer #2 · answered by Anonymous · 0 0

maximum states finalize divorces after six months of the filing date, until eventually it develop into rocky and grew to develop into prolonged. in case your divorce develop into not rocky, then merely count number six months from the filing date and on that date you grew to develop into divorced. you're impressive that it would want to take a number of weeks for the perfect decree to achieve contained in the mail because that is not processed until eventually after the perfect divorce date. So, you're maximum in all probability divorced as of the thirteenth of might want to 2009. you could bypass on your us of a seats internet web site, click on the right place of work, and skim the training contained there about even as divorce is finalized on your state. except that I doubt there's a loose internet web site which covers each contingency in each state.

2016-12-05 00:53:44 · answer #3 · answered by ? 3 · 0 0

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