[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: 20CFR206.1]



[Page 195-196]

 

                      TITLE 20--EMPLOYEES' BENEFITS

 

                  CHAPTER II--RAILROAD RETIREMENT BOARD

 

PART 206_ACCOUNT BENEFITS RATIO--Table of Contents

 

Sec.  206.1  Definitions.









Sec.

206.1 Definitions.

206.2 Computations.



    Authority: 45 U.S.C. 231f(b)(5); 45 U.S.C. 231u(a).



    Source: 68 FR 51153, Aug. 26, 2003, unless otherwise noted.





    Except as otherwise expressly noted, as used in this part--

    Account benefits ratio means the amount determined by the Railroad 

Retirement Board by dividing the fair market value of the assets in the 

Railroad Retirement Account and the National Railroad Retirement 

Investment Trust (and for years prior to 2002, the Social Security 

Equivalent Benefit Account) as of the close of each fiscal year by the 

total benefits and administrative expenses paid from those accounts 

during the fiscal year.

    Administrative expenses paid means the amount of the cash transfers 

from the Railroad Retirement Account to the agency's single 

administrative fund. Also included in this term is the amount of the 

cash transfers from the Railroad Retirement Account to the Limitation on 

the Office of Inspector General and the administrative expenses paid by 

the National Railroad Retirement Investment Trust.

    Assets means the market value of cash and investments in the 

Railroad Retirement Account and the National Railroad Retirement 

Investment Trust (and for years before 2002, the Social Security 

Equivalent Benefit Account).

    Average account benefits ratio means for any calendar year, the 

average of the account benefits ratio for the 10 most recent fiscal 

years ending before



[[Page 196]]



such calendar year. If the amount computed is not a multiple of 0.1, 

such amount shall be increased to the next highest 0.1.

    Total benefits paid means the total amount of benefits paid from the 

Railroad Retirement Account and the National Railroad Retirement 

Investment Trust in a fiscal year minus any benefit overpayments 

actually recovered during that fiscal year.