20 CFR 227.3 – Reduction for railroad retirement family maximum
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If the railroad retirement family maximum applies, and the reduction amount is higher than the spouse tier II rate, as shown in part 226 of this chapter, the initial supplemental annuity rate from § 227.2 is reduced by the smaller of—
Terms Used In 20 CFR 227.3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(a) The difference between the total railroad retirement maximum reduction amount and the reduction in the spouse annuity; or
(b) The total supplemental annuity rate from § 227.2.