Page:United States Statutes at Large Volume 50 Part 1.djvu/334

 1 75T H CONGRESS, 1ST SESSION-CH. 382-JUNE 24, 1937 service or received such wages for time lost, shall constitute a year of service. An ultimate fraction of six months or more shall be taken as one year. An ultimate fraction of less than six months shall be taken at its actual value. "(g) The term annuity' means a monthly sum which is payable on the 1st day of each calendar month for the accrual during the pre- ceding calendar month . "(h) The term com pens atio n' m eans any form of mon ey r emun era- tion earned by an individual for services rendered as an employee to one or more employers, or as an employee representative, includin r emun erat ion paid for time lost as an emp loye e, b ut r emun erat ion- pa id for time los t shall be deemed earned in the month in which such time is lost. Such term does not include tips, or the voluntary payment by an employer, without deduction from the remuneration of the employee, of any tax now or hereafter imposed with respect to the compensation of such employee. "(i) The term Boar d' m eans the Rai lroa d Re tire ment Board . " (j) The term enactment date' means the 29th day of August 1935. j "(k) The term company' includes corporations, associations, and oint-stock companies . "(1) The term employee' includes an officer of an employer. "(m) The term carrier' means an express company, sleeping-car company, or carrier by railroad, subject to part I of the Interstate Commerce Act . "(n) The te rm person' means an individual, a partnership, an association, a joint-stock company, or a corporation. " ANNUITIES "SEC. 2 . (a) The following-described individuals, if they shall have been employees on or after the enactment date, shall, subject to the cond itio ns s et f orth in subs ecti ons (b), (c), and (d ), be eligible for annuities after they shall have ceased to render compensated service to any person, whether or not an employer as defined in section 1 (a) (but with the right to engage in other employment to the extent not prohibited by subsection (d) ) 1 . Individuals who on or after the enactment date shall be sixty- five years of age or over. "2 . Individuals who on or after the enactment date shall be sixty years of age or over and (a) either have completed thirty years of service or (b) have become totally and permanently disabled for regular employment for hire, but the annuity of such individuals shall be reduced one one-hundred-and-eightieth for each calendar month that they are under age sixty-five when the annuity begins to accrue . "3. Individuals, without regard to age, who on or after the enact- ment date are totally and permanently disabled for regular employ- ment for hire and shall have completed thirty years of service. "Such satisfactory proof of the permanent total disability and of the continuance of such disability until age sixty-five shall be made from time to time as may be prescribed by the Board . If the individual fails to comply with the requirements prescribed by the Board as to proof of the disability or the continuance of the dis- ability until age sixty-five, his right to an annuity under subdivision 2 or subdivision 3 of this subsection by reason of such disability shall, except for good cause shown to the Board, cease, but without prejudice to his rights under subdivision 1 or 2 (a) of this sub- section . If, prior to attaining age sixty-five, such an individual recovers and is no longer disabled for regular employment for hire, his annuity shall cease upon the last day of the month in which "Annuity ." "Compensation ." Tips, etc . "Board ." "Enactment date ." " Comp any ." "E mploye e ." "Carrier ." Person ." Annuities . Cl asses e ligible . 309 Attaining 65 years . Attaining 60 years and completing 30 years of service ; total disability, etc . Reduction, under SS years . Total disability, after 30 years' service re- gardless of age . Periodic examina- tions . Discontinuance of annuit y if e mploye e fails to comply . Annuity discontin- ued on recovery ; re- duction, if paid there- after.