20 C.F.R. § 229.50 Age reduction in employee or spouse benefit.
Title 20 - Employees' Benefits
(a) When age reduction applies. The employee overall minimum benefit is reduced for each month the employee is under retirement age on the date the employee becomes eligible for an increase under the overall minimum, as shown in §229.22 of this part, unless the employee has a period of disability and §229.52 of this part does not apply, in which case no age reduction is applied. The spouse overall minimum benefit is reduced for each month a spouse, who is not a spouse with the employee's child under 16 years old or disabled before attaining age 22 in his or her care, is under retirement age on the date the spouse is eligible for an increase under the overall minimum (see §229.21 of this part). If a spouse's overall minimum benefit is reduced for age and he or she later begins caring for an eligible child, no age reduction will apply for the months the child is in his or her care. (b) Employee age reduction. The Overall Minimum PIA plus any delayed retirement credits is reduced by (c) Spouse age reduction. The amount of the spouse overall minimum benefit, after any adjustment for the family maximum, is reduced by (d) Age reduction after 1999. Beginning in the year 2000 the amount of age reduction shall be as specified in paragraphs (b) and (c) of this section for the first 36 months of the reduction period, as defined in paragraph (e) of this section, and (e) Reduction period defined. The reduction period is the number of months beginning with the first month for which the O/M is payable and ending with the month before the month the beneficiary attains retirement age.
Title 20: Employees' Benefits
PART 229—SOCIAL SECURITY OVERALL MINIMUM GUARANTEE
Subpart F—Computation of the Overall Minimum Rate
§ 229.50 Age reduction in employee or spouse benefit.