Page:United States Statutes at Large Volume 95.djvu/657

 PUBLIC LAW 97-35—AUG. 13, 1981 this Act, the amount of compensation used with respect to each month used in making such determination shall be the product of— "(i) the compensation credited to such individual for such month under paragraph (1) of this subsection; and "(ii) the quotient obtained by dividing— "(I) the average of total wages (as determined under section 215(b)(3)(A)(iiXI) of the Social Security Act) for the second calendar year preceding the earliest of the year of the individual's death or the year in which an annuity begins to accrue to such individual (disregarding an annuity based on disability which is terminated because such individual has recovered from such disability if such individual engages in any regular employment after such termination); by "(11) the average of total wages (as determined under section 215(b)(3)(A)(iiXII) of the Social Security Act) for the calendar year during which such month occurred, unless such month occurred prior to calendar year 1951, in which case, the average of total wages so determined for 1951. In no event shall 'average monthly compensation' determined for an individual under this subdivision exceed the maximum 'average monthly compensation' which can be determined under subdivision (1) of this subsection for any person retiring January 1 of the year in which such individual's annuity began to accrue.". (b) Subsections (c) and (d) of section 3 of the Railroad Retirement Act of 1974 are repealed. (c)(1) Section 3(fKl) is amended by striking out "subsections (b), (c), and (d)" each place it appears and inserting in lieu thereof "subsection (b)". (2) Section 3(f) of the Railroad Retirement Act of 1974 is amended by striking out of subdivision (1) all after "effective after the date on which such" and before "(A) 100 per; centum of his" and inserting in lieu thereof "individual's annuity under section 2(a)(l) of this Act begins to accrue, exceed an amount equal to the sum of'. (d) Subsection (g) of section 3 of the Railroad Retirement Act of 1974 is amended to read as follows: "(g) Effective with the month of June for any year after 1981, that portion of the annuity of an individual which is computed under subsection (b) of this section shall, if such individual's annuity under section 2(a)(l) of this Act began to accrue on or before June 1 of such year, be increased by 32.5 per centum of the percentage increase, if any (rounded to the nearest one-tenth of 1 per centum), obtained by comparing (A) the unadjusted Consumer Price Index for the calendar quarter ending March 31 of such year with (B) the higher of (i) such index for the calendar quarter ending March 31 of the year immediately preceding such year or (ii) such index for the calendar quarter ending March 31 of any preceding year after 1980. The unadjusted Consumer Price Index for any calendar quarter shall be the arithmetical mean of such index for the three months in such quarter.". (e) Section 3(h) of the Railroad Retirement Act of 1974 is amended— (1) by striking out "subsections (a) through (d)" each place it appears and inserting in lieu thereof "subsections (a) and (b)"; (2) by striking out all after "January 1, 1975," in section 3(h)(5) and inserting in lieu thereof "to the earlier of the date on which the individual's annuity under section 2(a)(l) of this Act began to accrue or January 1, 1982.", and (3) by adding at the end thereof the following new subdivision:

9-194 O—82

42: QL3

95 STAT. 631

42 USC 415.

45 USC 23ib.

45 USC 23ia.

45USe23ib.

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