High-resolution neutron spectroscopy and neutron diffraction results o
n the magnetic properties of Tb in the high-T-c superconductor Pb2Sr2T
b0.5Ca0.5Cu3O8 are presented. The lowest-lying crystalline-electric-fi
eld transition, expected at 7 mu eV, is not observed, indicating that
the system can still be described in the mean-field approximation at 2
0 K, well above T-N (4 K). The inelastic neutron spectra can be decomp
osed into an elastic and a quasi-elastic part, indicating that a singl
e Lorentzian does not describe well the magnetic-response function and
/or that Tb 2D short-range correlations persist up to temperatures abo
ve 100 K.