Page:United States Statutes at Large Volume 84 Part 1.djvu/849

 84 STAT. ]

PUBLIC LAW 91-377-AUG. 12, 1970

791

Public Law 91-377 AN ACT To amend the Railroad Retirement Act of 1937 to provide a temporary 15 per centum increase in annuities, to change for a temporary period the method of computing interest on investments of the railroad retirement accounts, and for other purposes.

August 12, 1970 [H. R. 15733]

Be it enacted by the Senate and House of Rejyref^entatives of the Uinted State-H of America in Congress assembled. That section 3(a) Rauroad Reof the Railroad Retirement iVct of 1937 is amended by inserting at the "gl^f a'mfuuiel, end thereof the following paragraph: increase. 82 Stat. 17. "(3) The amiuity computed under paragraphs (1) and (2) of this 45 USC 2 2 8 c. subsection and that part of subsection (e) of this section which precedes the first proviso shall be increased by 15 per centum but not by more than $50. If the individual entitled to such annuity is also entitled to a benefit for the same month under title II of the Social Security Act, there shall be offset against the increase herein provided for any 49 Stat. 622. amount by which such individual's social security benefit was increased " ^ ^^^ 40 w29. ^ by the Social Security Amendments of 1969, but in no case shall such 83 Stat. 737. offset operate to reduce the increase below $10." "^^ "^^ ^^^ "°*^' SEC. 2. (a) Section 2(e) of the Railroad Retirement Act of 1937 is 65 Stat. ess. amended by inserting "without regard to section 3(a)(3) of this Act" '*^ "^*^ ^^^''" after "of such individual's aimuity" and by inserting "as in effect before 1970'' after "or pension" and by inserting at the end thereof the following paragraph: "The spouse's annuity computed under other provisions of this section shall be increased by 15 per centum but not by more than $25. If the individual entitled to such annuity is also entitled to a benefit for the same month under title II of the Social Security Act, there shall be offset against the increase herein provided for any amount by which such individual's social security benefit was increased by the Social Security Amendments of 1969, but in no case shall such offset operate to reduce the increase below $5. The two preceding sentences shall not operate to increase the annuity to an amount in excess of the maximum amount of a spouse's annuity as provided in the first sentence of this subsection." (b) Section 2(i) of the Railroad Retirement Act of 1937 is amended 8° Stat. 1075; by inserting "without regard to the last paragraph of such subsection 45 USC 228b. (e) " after "subsections (e) and (h) of this section". SEC. 3. Section 5 of the Railroad Retirement Act of 1937 is amended 82 Stat. 21. by striking from subsection (m) the words "other provisions" wherever they appear in such subsection and substituting in lieu thereof in each instance the words "preceding provisions", and by inserting at the end thereof the following subsection: " (n) The annuity coniDuted under the preceding provisions of this section shall be increased by 15 per centum but not by more than $25. If the individual entitled to such annuity is also entitled to a benefit for the same month under title II of the Social Security Act, there shall be offset against the incre;ise herein provided for any amount by which such individual's social security benefit was increased by the Social Security Amendments of 1969, but in no case shall such offset operate to reduce the increase below $5." SEC. 4. (a) The provisions of this Act shall be effective with respect Effective date. to annuities accruing for months after December 1969 and with respect to ]>ensions due in calendar months after January 1970. For the purposes of this Act, (i) any increase in an individual's social security benefit based on recomputations other than for the correction of errors after the first adjustment, or derived from legislation enacted after the Social Security Amendments of 1969, shall be disregarded, and 47-348 0 - 7 2 - 5 4 (Pt. 1)

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