Page:United States Statutes at Large Volume 97.djvu/471

 PUBLIC LAW 98-76—AUG. 12, 1983 97 STAT. 439 Social Security Amendments of 1983 to the extent that the Ante, p. 80. amount which would have been so transferred is attribut- able to taxation of social security equivalent benefits. Amounts appropriated to the Railroad Retirement Account shall be appropriately reduced to take into account the amounts appropriated under this paragraph to the Social Security Equiv- alent Benefit Account. "(2) FINANCIAL INTERCHANGE AMOUNTS. —On and after Octo- ber 1, 1984, any amount which (but for this section) would have been transferred to the Railroad Retirement Account pursuant to paragraph (2) or (4) of section 7(c) of this Act shall be Ante, p. 430. transferred to the Social Security Equivalent Benefit Account. On and after October 1, 1984, no transfer shall be made to the Railroad Retirement Account pursuant to paragraph (2) or (4) of section 7(c) of this Act. "(3) CERTAIN CREDITED MILITARY SERVICE AMOUNTS. —TO the extent that the authorization for appropriation contained in section 15(b) is attributable to the cost of social security equiva- Ante, p. 431. lent benefits, on and after October 1, 1984, any reference in such section to the Railroad Retirement Account shall be treated as a reference to the Social Security Equivalent Benefit Account. "(4) TIME AND MANNER OF CREDITS AND TRANSFERS.— Amounts appropriated or transferred to the Social Security Equivalent Benefit Account under this section shall be credited or trans- ferred to such Account at the same time and in the same manner as such amounts would have been credited or trans- ferred to the Railroad Retirement Account but for this section. "(c)(1) Except as otherwise provided in this section, amounts in the Social Security Equivalent Benefit Account shall be available only for purposes of paying social security equivalent benefits under this Act and to provide for the administrative expenses of the Board allocable to social security equivalent benefits. "(2) On and after October 1, 1984, any transfer which (but for this paragraph) would be required to be made from the Railroad Retire- ment Account under paragraph (2) or (4) of section 7(c) shall be made from the Social Security Equivalent Benefit Account. "(d)(1) Whenever the Board finds that the balance in the Social Security Equivalent Benefit Account will be insufficient to pay social security equivalent benefits which it estimates are due in any month, it shall request the Secretary of the Treeisury to transfer from the Railroad Retirement Account to the credit of the Social Security Equivalent Benefit Account such moneys as the Board estimates will be necessary for the payment of such benefits, and the Secretary shall make such transfer. Whenever later in such month there is a transfer to the Social Security Equivalent Benefit Account under paragraph (2) or (4) of section 7(c) of this Act, the amount so transferred shall be immediately retransferred to the Railroad Re- tirement Account. The amount retransferred under the preceding sentence shall not exceed the amount of any outstanding transfers under this paragraph from the Railroad Retirement Account plus such additional amounts determined by the Board to be equal to the loss of interest to the Railroad Retirement Account resulting from such outstanding transfers. "(2) Whenever the Board determines that— "(A) amounts in the Railroad Retirement Account will not be sufficient to pay the annuities which it estimates are due, or will become due, from such Account, and

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