[Code of Federal Regulations]
[Title 20, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR227.5]

[Page 449]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
                  CHAPTER II--RAILROAD RETIREMENT BOARD
 
PART 227_COMPUTING SUPPLEMENTAL ANNUITIES--Table of Contents
 
Sec. 227.5  Employer tax credits.

    Employers are entitled to tax credits if they pay non-negotiated 
pensions to former employees whose supplemental annuities are reduced 
because of the pensions. Non-negotiated pensions are paid under pension 
plans that are not established by collective bargaining agreements. The 
tax credits for each month equal the sum of the reductions for employer 
pensions in the supplemental annuities of all former employees for that 
month. The Board sends a report of total tax credits to each employer 
after the end of each calendar quarter. The credits are applied to the 
man-hour supplemental annuity tax the employer pays the Internal Revenue 
Service under section 3221 of the Railroad Retirement Tax Act.