[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: 20CFR229.2]

[Page 478]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
                  CHAPTER II--RAILROAD RETIREMENT BOARD
 
PART 229_SOCIAL SECURITY OVERALL MINIMUM GUARANTEE--Table of Contents
 
                            Subpart A_General
 
Sec.  229.2  Definitions.

    The following definitions are used in this part:
    Annuity means a payment under the Railroad Retirement Act due and 
payable to an entitled claimant for a calendar month and made to him or 
her on the first day of the following month. The recipient of an annuity 
is called an annuitant.
    Average Indexed Monthly Earnings or AIME means the average of the 
employee's monthly creditable earnings in both railroad and social 
security covered employment in the years used in computing the Primary 
Insurance Amount, after the earnings are adjusted or ``indexed''. The 
indexing is a means of expressing prior years earnings in terms of their 
current dollar value. It is based on increases in the average wages of 
all wage earners from 1951 although the second year before the year the 
worker dies or becomes eligible for benefits.
    Contribution and benefit base means the maximum earnings used in 
computing a social security benefit under section 230 of the Social 
Security Act.
    1974 Act means the Railroad Retirement Act approved October 16, 
1974, including all amendments.
    Railroad formula rate means the amount computed in accord with the 
regular railroad computations (sections 3(a), 3(b) and 3(h) of the 
Railroad Retirement Act).
    Retirement age means age 65, with respect to an employee or spouse 
who attains age 62 before January 1, 2000 (age 60 in the case of a 
widow(er), remarried widow(er) or surviving divorced spouse). For an 
employee or spouse who attains age 62 (or age 60 in the case of a 
widow(er), remarried widow(er), or surviving divorced spouse) after 
December 31, 1999, retirement age means the age provided for in section 
216(l) of the Social Security Act.