[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: 20CFR225.60]



[Page 454]

 

                      TITLE 20--EMPLOYEES' BENEFITS

 

                  CHAPTER II--RAILROAD RETIREMENT BOARD

 

PART 225_PRIMARY INSURANCE AMOUNT DETERMINATIONS--Table of Contents

 

                        Subpart G_Adjusting PIA's

 

Sec.  225.60  Adjustment at age 62 when employee is entitled to an 

annuity based on 30 years of railroad service.





    (a) Description. The Tier I PIA of an employee who is entitled to an 

age annuity based on 30 years of railroad service is adjusted when the 

employee reaches age 62. The Average Indexed Monthly Earnings on which 

the PIA is based is adjusted by using the year in which the employee 

attains age 62 as the eligibility year. This adjustment applies to any 

employee who attained age 60 or acquired 30 years of railroad service 

after June 30, 1984. The adjustment affects the tier I of the employee 

and spouse annuity.

    (b) Effective date of adjustment. A PIA adjustment based on the 

employee's attainment of age 62 is effective with the first full month 

in which the employee is age 62. For purposes of a spouse age annuity 

tier I, the adjusted PIA is used beginning with the first full month 

both the employee and spouse are age 62.