§ 4062. Unfunded liability obligations

Statutory text

Notice of interest and military service credit

At the end of each fiscal year, the Secretary of State shall notify the Secretary of the Treasury of the amount equivalent to—

interest on the unfunded liability computed for that year at the interest rate used in the then most recent valuation of the System, and

that portion of disbursement for annuities for that year which the Secretary of State estimates is attributable to credit allowed for military and naval service, less an amount determined by the Secretary of State to be appropriate to reflect the value of the deposits made to the credit of the Fund under section 4045(e) of this title.

Credit to Fund

Before closing the accounts for each fiscal year, the Secretary of the Treasury shall credit such amounts to the Fund, as a Government contribution, out of any money in the Treasury of the United States not otherwise appropriated.

Reports to Congress

Requests for appropriations to the Fund under section 4061(b) of this title shall include reports to the Congress on the sums credited to the Fund under this section.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1980
Pub. L. 96–465 title I § 822 · 94 Stat. 2071
Enacted · 22 U.S.C. § 4062
Pub. L. 96–465, title I, § 822, Oct. 17, 1980, 94 Stat. 2121
Source evidence
Code source credit
Pub. L. 96–465, title I, § 822, Oct. 17, 1980, 94 Stat. 2121
Enacted provision · exact public law section
Sec. 822. Unfunded Liability Obligations.— (a) At the end of each 22 USC 4062. fiscal year, the Secretary of State shall notify the Secretary of the Treasury of the amount equivalent to— (1) interest on the unfunded liability computed for that year at the interest rate used in the then most recent valuation of the System, and (2) that portion of disbursement for annuities for that year which the Secretary of State estimates is attributable to credit allowed for military and naval service. (b) Before closing the accounts for each fiscal year, the Secretary of the Treasury shall credit such amounts to the Fund, as a Government contribution, out of any money in the Treasury of the United States not otherwise appropriated. (c) Requests for appropriations to the Fund under section 821(b) shall include reports to the Congress on the sums credited to the Fund under this section.
undated
Public Law not identified
Inserted · 22 U.S.C. § 4062(a)(2)
Subsec. (a)(2). Ex. Ord. No. 12446 inserted “, less an amount determined by the Secretary of State to be appropriate to reflect the value of the deposits made to the credit of the Fund under section 4045(e) of this title”
Unresolved: No Public Law or Statutes at Large citation in the Code source.
Source evidence
Code amendment note
Subsec. (a)(2). Ex. Ord. No. 12446 inserted “, less an amount determined by the Secretary of State to be appropriate to reflect the value of the deposits made to the credit of the Fund under section 4045(e) of this title”.

1 of 2 references resolved to an enrolled provision · 1 unresolved

Editorial Notes

Amendments

1983—Subsec. (a)(2). Ex. Ord. No. 12446 inserted “, less an amount determined by the Secretary of State to be appropriate to reflect the value of the deposits made to the credit of the Fund under section 4045(e) of this title”.

Statutory Notes and Related Subsidiaries

Effective Date of 1983 Amendment

Amendment by Ex. Ord. No. 12446 effective Oct. 17, 1983, see section 4(e) of Ex. Ord. No. 12446, set out under section 4067 of this title.

Termination of Reporting Requirements

For termination, effective May 15, 2000, of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which a report required under subsec. (c) of this section is listed on page 127), see section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance.

Credits

1980–1983 · 2 acts

1980Pub. L. 96–465, title I, § 822, Oct. 17, 1980, 94 Stat. 2121
1983Ex. Ord. No. 12446, § 4(d), Oct. 17, 1983, 48 F.R. 48445.

Show as published

(Pub. L. 96–465, title I, § 822, Oct. 17, 1980, 94 Stat. 2121; Ex. Ord. No. 12446, § 4(d), Oct. 17, 1983, 48 F.R. 48445.)