§231v — Title 45 Railroads | U.S. Code

Summary

Compute and report the account benefits ratios to the Secretary of the Treasury. The Railroad Retirement Board must, by November 1, 2003, calculate the ratios for each of the ten most recent fiscal years and send them to the Secretary. Then, by November 1 every year after 2003, the Board must calculate the ratio for the fiscal year that just ended and send it to the Secretary. Account benefits ratio: defined in Internal Revenue Code section 3241(c).

Title 45, §231v

Railroads — Source: USLM XML via OLRC

(a)On or before November 1, 2003, the Railroad Retirement Board shall—

(1)compute the account benefits ratios for each of the most recent 10 preceding fiscal years, and

(2)certify the account benefits ratios for each such fiscal year to the Secretary of the Treasury.

(b)On or before November 1 of each year after 2003, the Railroad Retirement Board shall—

(1)compute the account benefits ratio for the fiscal year ending in such year, and

(2)certify the account benefits ratio for such fiscal year to the Secretary of the Treasury.

(c)As used in this section, the term “account benefits ratio” has the meaning given that term in section 3241(c) of the Internal Revenue Code of 1986 [26 U.S.C. 3241(c)].

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 231v, act Aug. 29, 1935, ch. 812, § 23, as added Aug. 12, 1983, Pub. L. 98–76, title IV, § 418, 97 Stat. 438, provided that for purposes of Inspector General Act of 1978, the Railroad Retirement Board is an “establishment” and the Chairman of such Board the “head of the establishment”, prior to repeal by Pub. L. 100–504, title I, §§ 102(e)(3), 113, Oct. 18, 1988, 102 Stat. 2517, 2530, effective 180 days after Oct. 18, 1988.

§231v Computation and Certification of Account Benefit Ratios

Summary

Title 45, §231v

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Citations & Metadata