; and (C) $250,000 per year thereafter. (b) Duration; frequency (1) In general The annuity and monetary allowance under subsection (a) shall— (A) terminate on the date that is 30 days after the date on which the former President dies; and (B) be payable by the Secretary of the Treasury on a monthly basis. (2) Appointive or elective positions The annuity and monetary allowance under subsection (a) shall not be payable for any period during which a former President holds an appointive or elective position in or under the Federal Government to which is attached a rate of pay other than a nominal rate. (c) Cost-of-Living increases Effective December 1 of each year, each annuity and monetary allowance under subsection (a) that commenced before that date shall be increased by the same percentage by which benefit amounts under title II of the Social Security Act ( 42 U.S.C. 401 et seq.) are increased, effective as of that date, as a result of a determination under section 215(i) of that Act ( 42 U.S.C. 415(i) ). (d) Limitation on monetary allowance (1) In general Notwithstanding any other provision of this section, the monetary allowance payable under subsection (a)(2) to a former President for any 12-month period— (A) except as provided in subparagraph (B), may not exceed the amount by which— (i) the monetary allowance that (but for this subsection) would otherwise be so payable for the 12-month period, exceeds (if at all) (ii) the applicable reduction amount for the 12-month period