[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: 20CFR234.53]

[Page 477-478]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
                  CHAPTER II--RAILROAD RETIREMENT BOARD
 
PART 234_LUMP-SUM PAYMENTS--Table of Contents
 
                    Subpart E_Lump-Sum Refund Payment
 
Sec. 234.53  Computation of the lump-sum refund payment.

    (a) The lump-sum refund payment is calculated as follows:

[[Page 478]]

    (1) Combine the railroad employee's creditable earnings, including 
military service, under the Social Security Act and Railroad Retirement 
Act for each of the years 1951 through 1974;
    (2) Determine the amount of the employee's creditable earnings in 
excess of the amounts for each year shown in the chart in paragraph (b) 
of this section;
    (3) Multiply the results of paragraph (a)(2) of this section by the 
percentage shown in the chart in paragraph (b) of this section; and
    (4) Add the results of paragraph (a)(3) of this section. The total 
is the amount of the lump-sum refund payment.
    (b) Chart for calculation of lump-sum refund payment.

------------------------------------------------------------------------
                     Year                         Amount     Percentage
------------------------------------------------------------------------
1951-53......................................       $3,600         1.5
1954-56......................................        4,200         2.0
1957-58......................................        4,200         2.25
1959.........................................        4,800         2.5
1960-61......................................        4,800         3.0
1962.........................................        4,800         3.125
1963-65......................................        5,400         3.625
1966.........................................        6,600         4.2
1967.........................................        6,600         4.4
1968.........................................        7,800         3.3
1969-70......................................        7,800         4.2
1971.........................................        7,800         4.6
1972.........................................        9,000         4.6
1973.........................................       10,800         4.85
1974.........................................       13,200         4.95
------------------------------------------------------------------------