TN 8 (11-93)

RS 01401.240 Guaranteed Annual Income (GAI) Payments

A. DEFINITION

GAI payments are part of a bargaining agreement in union contracts which provide a continuation of income during periods of reduced employment.

B. POLICY

GAI payments are wages.

EXCEPTION: GAI payments made by the New York Shipping Association are not wages. SSA and IRS determined that the payments from this plan are a form of supplemental unemployment benefits.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0301401240
RS 01401.240 - Guaranteed Annual Income (GAI) Payments - 12/06/1993
Batch run: 01/27/2009
Rev:12/06/1993