REPEAL OF RAILROAD RETIREMENT MAXIMUM.

SEC. 104. REPEAL OF RAILROAD RETIREMENT MAXIMUM. (a) Employee Annuities.— (1) In general.—Section 3(f) of the Railroad Retirement Act of 1974 (45 U.S.C. 23 lb(f)) is amended— (A) by striking subdivision (1); and (B) by redesignating subdivisions (2) and (3) as subdivisions (1) and (2), respectively. (2) Conforming amendments.— (A) The first sentence of section 3(f)(1) of the Railroad Retirement Act of 1974 (45 U.S.C. 231b(f)(1)), as redesignated by paragraph (1)(B), is amended by striking “, without regard to the provisions of subdivision (1) of this subsection,”. (B) Paragraphs (i) and (ii) of section 7(d)(2) of the Railroad Retirement Act of 1974 (45 U.S.C. 231f(d)(2)) are each amended by striking “section 3(f)(3)” and inserting “section 3(f)(2)”. (b) Spouse and Survivor Annuities.—Section 4 of the Railroad Retirement Act of 1974 (45 U.S.C. 231c) is amended by striking subsection (c). (c) Effective Date.—The amendments made by this section shall take effect on January 1, 2002, and shall apply to annuity amounts accruing for months after December 2001.