20 CFR 206.2 – Computation
Current as of: 2024 | Check for updates
|
Other versions
(a) On or before November 1, 2003, the Railroad Retirement Board shall:
Terms Used In 20 CFR 206.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(1) Compute the account benefits ratios for each of the most recent 10 preceding fiscal years; and
(2) Certify the account benefits ratio 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) No later than May 1 of each year, beginning 2003, the Board shall compute its projection of the account benefits ratio and the average account benefits ratios for each of the next succeeding 5 fiscal years.