Page:United States Statutes at Large Volume 97.djvu/448

 97 STAT. 416 PUBLIC LAW 98-76—AUG. 12, 1983 42 USC 1305. Effective date. 45 USC 231d note. 45 USC 231a. 42 USC 402. 45 USC 231d. Effective date. 45 USC 231a note. 45 USC 231a. 45 USC 231u. Five-year projection of anticipated revenues. Report submittal. subsection shall be deemed to govern the beginning dates of monthly benefits provided under the Social Security Act.". (b) The amendments made by this section shall become effective on the first day of the first month beginning after the date of the enactment of this Act, and shall apply only with respect to annuities awarded on the basis of applications filed on or after that day. SEC. 104. (a) Clause (B) of section 2(d)(l)(iii) of the Railroad Retire- ment Act of 1974 is amended to read as follows: "(B) will be less than nineteen years of age and a full-time elementary or secondary school student, or". (b) Section 2(d)(4) of the Railroad Retirement Act of 1974 is amended— (1) by striking out "full-time student" each place it appears and inserting in lieu thereof "full-time elementary or secondary school student"; (2) by striking out "educational institution" each place it appears and inserting in lieu thereof "elementary or secondary school"; (3) by striking out "twenty-two" in the fourth sentence and inserting in lieu thereof "nineteen"; and (4) by striking out "degree from a four-year college or univer- sity" and inserting in lieu thereof "diploma or equivalent certif- icate from a secondary school (as defined in section 202(d)(7)(c)(i) of the Social Security Act)". (c) Section 5(c)(7) of the Railroad Retirement Act of 1974 is amended— (1) by striking out "full-time student" and inserting in lieu thereof "full-time elementary or secondary school student"; and (2) by striking out "22" and inserting in lieu thereof "19". (d) The amendments made by this section shall be effective with respect to annuities accruing for months after the month in which this Act is enacted except in the case of a child who has attained the age of eighteen in or before the month in which this Act is enacted and is entitled to an annuity under section 2(d) of the Railroad Retirement Act of 1974 for the month in which this Act is enacted or, if earlier, for the month of April 1983. SEC. 105. Section 22 of the Railroad Retirement Act of 1974 is amended by striking out "(a)" and all that follows through the end of subsection (a) of such section and inserting in lieu thereof the following: "(a)(1) On or before February 1 of each year beginning in 1984, the Railroad Retirement Board shall prepare a five-year pro- jection of anticipated revenues to and payments from the Railroad Retirement Account to determine the ability of such Account to pay benefits in each of the next succeeding five calendar years. No later than April 1 of each year, the Board shall submit a written report to the President, the Speaker of the House, and the President of the Senate setting forth the results of the projection prepared pursuant to the preceding sentence. If the projection indicates that the funds in the Railroad Retirement Account will be insufficient to pay the full amount of the benefits under this Act which are payable from that Account at any time during the five-year period, the Board's report shall include— "(A) the first fiscal year during which benefits under this Act must be reduced, in the absence of any adjustments, because insufficient funds (including any general revenue borrowing authority under this Act) would preclude payment of full bene-

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