[Code of Federal Regulations]
[Title 20, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR206.1]

[Page 197-198]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
                  CHAPTER II--RAILROAD RETIREMENT BOARD
 
PART 206_ACCOUNT BENEFITS RATIO--Table of Contents
 
Sec.  206.1  Definitions.

    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 198]]

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.