Page:United States Statutes at Large Volume 88 Part 1.djvu/1364

 1320

45 USC 2 28c.

26 USC 3121.

PUBLIC LAW 93-445-OCT. 16, 1974

[88 STAT.

except in computing increases in amounts determined under clause (A) of this subdivision pursuant to section 3(a)(6) of the Eailroad Retirement Act of 1937. "(2) The amount computed under subdivision (1) of this subsection shall be increased by 65 per centum of the percentage increase obtained by comparing the unadjusted Consumer Price Index for the month of September 1976 with the unadjusted Consumer Price Index for the September immediately preceding the earlier of (A) the calendar year in which the individual's annuity under section 2(a)(1) of this Act begins to accrue or (B) the calendar year 1981. "(c) If an individual entitled to an annuity under section 2(a)(1) of this Act will have rendered service as an employee to an employer, or as an employee representative, subsequent to December 31, 1974, the amount of the annuity of such individual provided under the preceding subsections of this section shall be increased by $1.50 for each of the first ten years of service that the individual has prior to January 1, 1975, and by $1.00 for each year of service prior to January 1, 1975, that the individual has in excess of ten years. " (d)(1) The amount of the annuity of an individual provided under the preceding subsections of this section shall be increased according to the following formula: I = Y (.005A + 4) "(2) The amount computed under subdivision (1) of this subsection shall be increased according to the following formula: I = 2.6YC "(3) The amount computed under subdivisions (1) and (2) of this subsection shall be further increased according to the following formula: I=.005Y[.65BC-(B-D)] I n no event shall this subdivision result in a decrease in the amounts computed under subdivisions (1) and (2). " (4) For purposes of the formulae set forth in this subsection: " ' I ' represents the amount of increase in dollars; " 'A' represents the employee's average monthly compensation for service after 1974; " 'Y' represents the number of years of service of the employee after 1974; " ' C represents the percentage increase (converted to a decimal fraction) obtained by comparing the unadjusted Consumer Price Index for the month of September 1976 with the unadjusted Consumer Price Index for the September immediately preceding the earlier of the calendar year in which the individual's annuity under section 2(a)(1) of this Act begins to accrue, or the calendar year 1981; " ' B ' represents the employee's average monthly compensation for his years of service after 1974 (disregarding, for this purpose, compensation for any month after 1980 in excess of one-twelfth of the maximum taxable 'wages' as defined in section 3121 of the Internal Revenue Code of 1954 for the calendar year 1980); " 'D' represents the employee's average monthly compensation for his years of service after 1974 (disregarding, for this purpose, compensation for any month after 1976 in excess of one-twelfth of the maximum taxable 'wages' as defined in section 3121 of the Internal Revenue Code for the calendar year 1976). "(e) The supplemental annuity of an individual under section 2(b) of this Act shall be $23 plus an additional amount of $4 for each year

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