[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: 20CFR230.1]

[Page 490-491]
 
                      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.

    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 491]]

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.)