Page:United States Statutes at Large Volume 88 Part 1.djvu/1396

 1352

PUBLIC LAW 93-445-OCT. 16, 1974

[88 STAT.

45 USC 231 gjjc^ 202. (a) Every individual who would have been entitled to note. use 215-22 8 ^^ annuity under the Railroad Retirement Act of 1935 for the month 45 "°t^^i of January 1975, if this Act had not been enacted, shall be entitled to an annuity under paragraph (i) of section 2(a)(1) of the Railroad Ante, p. 1312. Retirement Act of 1974, beginning January 1, 1975, in an amount Ante, p. 1319. determined under the provisions of section 3(a) of such Act, which amount shall initially be equal to the amount determined under clause 45 USC 228c. (i) of section 3(a)(6) of the Railroad Retirement Act of 1937 for the purpose of computing the last increase in such individual's annuity under the Railroad Retirement Act of 1935 pursuant to the 45 USC 228f provisions of section 105 of Public Law 93-69, less the amount of any note. monthly insurance benefit to which such individual is actually entitled (before any deductions on account of work) under the Social Security 42 USC 1305.

r5^'usc"23i note. 45 USC 228f.

note ^^^ ^^^ 45 USC 228b.

J^QI

(b) The amount of the annuity of an individual under subsection (a) of this section shall be increased by an amount, if any, equal to the amount by which (i) his annuity under the Railroad Retirement Act of 1935 for the month of December 1974 exceeds (ii) his annuity under subsection (a) of this section for the month of January 1975. ^E<^- ^^'^- (^) Every individual who would have been entitled to a pension under section 6 of the Railroad Retirement Act of 1937 for ^]^g month of January 1975, if this Act had not been enacted, shall be entitled to an annuity under paragraph (i) of section 2(a)(1) of the Railroad Retirement Act of 1974 in an amount determined under the provisions of section 3(a) of such Act, which amount shall initially be equal to the amount determined under clause (i) of section 3(a)(6) of the Railroad Retirement Act of 1937 for the purpose of computing the last increase in such individual's pension under section 6 of the Railroad Retirement Act of 1937 pursuant to the provisions of section 105 of Public Law 93-69, less the amount of any monthly insurance benefit to which such individual is actually entitled (before any deductions on account of work) under the Social Security Act. (b) The amount of the annuity of an individual under subsection (a) of this section shall be increased by an amount, if any, equal to the amount by which (i) his pension under section 6 of the Railroad Retirement iVct of 1937 for the month of December 1974 exceeds (ii) his annuity under subsection (a) of this section for the month of January 1975. (c) The annuities of each individual under the preceding subsections of this section shall be paid on January 1, 1975, and on the first day of each calendar month thereafter during his life. ^'^^- ^^^' (^) Every individual who was entitled to an annuity under section 2(a) 1, 2(a)2, 2(a)3, 2(a)4, or 2(a)5 of the Railroad Retirement Act of 1937 for the month of December 1974, or who would have been entitled to such an annuity for such month except for the provisions of section 2(d) of such Act, and who would have been entitled to such an annuity for the month of January 1975, if this Act had not been enacted, shall be entitled to an annuity under paragraph (i), (ii), (iii), (iv),or (v), respectively, of section 2(a)(1) of the Railroad Retirement Act of 1974, beginning January 1, 1975: Provided, however, That if an individual who was entitled to an annuity under section 2(a)4 or 2(a)5 of the Railroad Retirement Act of 1974 is age 65 or older, on January 1, 1975, such individual shall be entitled to an annuity under paragraph (i) of section 2(a)(1) of the Railroad Retirement Act of 1974. For purposes of this subsection— (1) that portion of the individual's annuity as is provided under section 3(a) of the Railroad Retirement Act of 1974 shall initially be in an amount equal to the amount determined under clause (i) of section 3(a)(6) of the Railroad Retirement Act of

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