[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: 20CFR230.1]



[Page 488-489]

 

                      TITLE 20--EMPLOYEES' BENEFITS

 

                  CHAPTER II--RAILROAD RETIREMENT BOARD

 

PART 230_MONTHS ANNUITIES NOT PAYABLE BY REASON OF WORK--Table of Contents

 

Sec.  230.1  Statutory provisions.









Sec.

230.1 Statutory provisions.

230.2 Loss of annuity for month in which compensated service is 

          rendered.

230.5 Exception concerning service to a local lodge or division.



    Authority: 45 U.S.C. 231f.



    Source: Board Order 60-2, 25 FR 593, Jan. 23, 1960, unless otherwise 

noted. Redesignated at 47 FR 7656, Feb. 22, 1982.





    No annuity shall be paid with respect to any month in which an 

individual in receipt of any annuity hereunder shall render compensated 

service to an employer or to the last person by whom he was employed 

prior to the date on which the annuity began to accrue. Individuals 

receiving annuities shall report to the Board immediately all such 

compensated service. No annuity under paragraph 4 or 5 of subsection (a) 

of this section shall be paid to an individual with respect to any month 

in which the individual is under age sixty-five and is paid more than 

$100 in earnings from employment or self-employment of any form: 

Provided, That for purposes of this paragraph, if a payment in any one 

calendar month is for accruals in more than one calendar month, such 

payment shall be deemed to have been paid in each of the months in which 

accrued to the extent accrued in such month. Any such individual under 

the age of sixty-five shall report to the Board any such payment of 

earnings for such employment or self-employment before receipt and 

acceptance of an annuity for the second month following the month of 

such payment. A deduction shall be imposed, with respect to any such 

individual who fails to make such report, in the annuity or annuities 

otherwise due the individual, in an amount equal to the amount of the 

annuity for each month in which he is paid such earnings in such 

employment or self-employment, except that the first deduction imposed 

pursuant to this sentence shall in no case exceed an amount equal to the 

amount of the annuity otherwise due for the first month with respect to 

which the deduction is imposed. If pursuant to the third sentence of 

this subsection an annuity was not paid to an individual with respect to 

one or more months in any calendar year, and it is subsequently 

established that the total amount of such individual's earnings during 

such year as determined in accordance with that sentence (but exclusive 

of earnings for services described in the first sentence of this 

subsection) did not exceed $1,200, the annuity with respect to such 

month or months, and any deduction imposed by reason of the failure to 

report earnings for such month or months under the fifth sentence of 

this subsection, shall then be payable. If the total amount of such 

individual's earnings during such year (exclusive of earnings for 

services described in the first sentence of this subsection) is in 

excess of $1,200, the number of months in such year with respect to 

which an annuity is not payable by reason of such third and fifth 

sentences shall not exceed one month for each $100 of such excess, 

treating



[[Page 489]]



the last $50 or more of such excess as $100; and if the amount of the 

annuity has changed during such year, any payments of annuity which 

become payable solely by reason of the limitation contained in this 

sentence shall be made first with respect to the month or months for 

which the annuity is larger. (Section 2(d) of the act.)