Page:United States Statutes at Large Volume 91.djvu/1548

 91 STAT. 1514

PUBLIC LAW 95-216—DEC. 20, 1977

determining the portion of the employee representative tax liability 26 USC 3211. under section 3211(a) of such Code which results from the application of the 9.5 percent rate specified therein, and for purposes of computing average monthly compensation undei; section 3(j) of the 4'5 USC 231b. Kailroad Eetirement xict of 1974, except with respect to annuity amounts determined under section 3(a) or (3)(f)(3) of such Act, clause (2) and the preceding sentence of this subsection shall be disregarded.". 42 USC 430. (c)(1) Section 230 of such Act is further amended by adding at the end thereof the following new subsection: "(d) Notwithstanding any other provision of law, the contribution and benefit base determined under this section for any calendar year after 1976 for purposes of section 4022(b)(3)(B) of Public Law 29 USC 1322. 93-406, with respect to any plan, shall be the contribution and benefit base that would have been determined for such year if this section as in effect immediately prior to the enactment of the Social Security Amendments of 1977 had remained in effect without change.". Effective date. (2) The amendment made by paragraph (1) shall apply with 42 USC 430 note, respect to plan terminations occurring after the date of the enactment of this Act. (d)(1) The second sentence of section 215(i)(2)(D)(v) of such 42 USC 415. Act is amended by striking out "is equal to one-twelfth of the new contribution and benefit base" and inserting in lieu thereof "is equal to, or exceeds by less than $5, one-twelfth of the new contribution and benefit base". (2) The third sentence of section 215(i)(2)(D)(v) of such Act is amended by striking out all that follows "clause (iv)" and inserting in lieu thereof "plus 20 percent of the excess of the second figure in the last line of column III as extended under the preceding sentence over such second figure for the calendar year in which the table of benefits is revised.". EFFECTIVE DATE

26 USC 1401 "''*^-

SEC. 104. The amendments made by this title shall apply with respect to remuneration paid or received, and taxable years beginning, after 1977. TITLE II—STABILIZATION OF KEPLACEMENT RATES I N THE OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE PROGRAM COMPUTATION OF PRIMARY INSURANCE A M O U N T

42 USC 415.

S E C 201. (a) Section 215(a) of the Social Security Act is amended to read as follows: "(a)(1)(A) The primary insurance amount of an individual shall (except as otherwise provided in this section) be equal to the sum of— "(i) 90 percent of the individual's average indexed monthly earnings (determined under subsection (b)) to the extent that such earnings do not exceed the amount established for purposes of this clause by subparagraph (B), "(ii) 32 percent of the individual's average indexed monthly earnings to the extent that such earnings exceed the amount established for purposes of clause (i) but do not exceed the amount established for purposes of this clause by subparagraph (B), and

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