§ 1962. Authority for higher monthly installments payable to certain annuitants

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.

1. 1988

   Veterans

   Pub. L. 100–322 title III § 331(b)(1) · 102 Stat. 487

   Enacted · 38 U.S.C. § 1962

   Added Pub. L. 100–322, title III, § 331(b)(1), May 20, 1988, 102 Stat. 536, § 762

   Source evidence

   Code source credit
   Added Pub. L. 100–322, title III, § 331(b)(1), May 20, 1988, 102 Stat. 536, § 762

   Enacted provision · exact public law section
   (1) Subchapter II of chapter 19 is amended by adding at the end the following new section: “§ 762. Authority for higher monthly installments payable to certain annuitants “(a) Subject to subsections (b) and (c) of this section, the Administrator may from time to time adjust the dollar amount of the monthly installments payable to a beneficiary of United States Government Life Insurance who is receiving the proceeds of such insurance under a life annuity settlement option. The Administrator may make such an adjustment only if the Administrator determines that the adjustment is administratively and actuarially sound. The Administrator may make such an adjustment without regard to the provisions of section 744 of this title with respect to interest rates and the use of mortality tables. “(b) The Administrator shall determine the amount in the trust fund in the Treasury held for payment of proceeds to United States Government Life Insurance beneficiaries attributable to interest and mortality gains on the reserves held for annuity accounts. Such amount shall be available for distribution to the life annuitants referred to in subsection (a) of this section as a fixed percentage of, and in addition to, the monthly installment amount to which the annuitants are entitled under this subchapter. For the purposes of this section, gains on the reserves are defined as funds attributable solely to annuity accounts that are in excess of actuarial liabilities. “(c) The monthly amount of an annuity authorized in section 744 of this title, as adjusted under this section, may not be less than the monthly amount of such annuity that would otherwise be applicable without regard to this section.”.

2. 1991

   Pub. L. 102–83 § 5(a) · 105 Stat. 378

   Changed · 38 U.S.C. § 1962

   Pub. L. 102–83, § 5(a), renumbered section 762 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 5(a), renumbered section 762 of this title as this section.

   Enacted provision · exact public law section
   (a) Redesignation of Sections to Conform to Chapter Numbers.— Each section contained in any of chapters 11 through 23 is redesignated by replacing the first digit of the section number with the number of the chapter containing that section. Each section contained in any of chapters 24 through 42 is redesignated so that the first two digits of the section number of that section are the same as the chapter number of the chapter containing that section.

3. 1991

   Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1962(a)

   Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”.

   Enacted provision · exact public law section
   (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

4. 1991

   Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1962(a)

   Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing.

   Enacted provision · exact public law section
   (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

5. 1991

   Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1962(b)

   Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.

   Enacted provision · exact public law section
   (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

6. 1991

   Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1962(c)

   Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”.

   Enacted provision · exact public law section
   (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

6 of 6 references resolved to an enrolled provision