§ 2091. Estimate of appropriations needed

Statutory text

Estimates of annual appropriations

The Director shall prepare the estimates of the annual appropriations required to be made to the fund.

Actuarial valuations

The Director shall cause to be made actuarial valuations of the fund at such intervals as the Director determines to be necessary, but not less often than every five years.

Changes in law affecting actuarial status of fund

Any statute which authorizes—

new or increased benefits payable from the fund under this subchapter, including annuity increases other than under section 2131 of this title;

extension of the coverage of this subchapter to new groups of employees; or

increases in pay on which benefits are computed;

is deemed to authorize appropriations to the fund in order to provide funding for the unfunded liability created by that statute, in 30 equal annual installments with interest computed at the rate used in the then most recent valuation of the system and with the first payment thereof due as of the end of the fiscal year in which such new or liberalized benefit, extension of coverage, or increase in pay is effective.

Authorization

There is hereby authorized to be appropriated to the fund for each fiscal year such amounts as may be necessary to meet the amount of normal cost for each year that is not met by contributions under section 2021(a) of this title.

Unfunded liability; credit allowed for military service

There is hereby authorized to be appropriated to the fund for each fiscal year such sums as may be necessary to provide 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 that the Director estimates is attributable to credit allowed for military service,

less an amount determined by the Director to be appropriate to reflect the value of the deposits made to the credit of the fund under section 2082(h) of this title.

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.

1992
Pub. L. 88–643 title II § 261 · 78 Stat. 1043
Enacted · 50 U.S.C. § 2091
(Pub. L. 88–643, title II, § 261, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3234.)
Source evidence
Code source credit
(Pub. L. 88–643, title II, § 261, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3234.)
Enacted provision · exact public law section
Sec. 261. estimate of appropriations needed The Director shall prepare the estimates of the annual appropriations required to be made to the fund, and shall cause to be made actuarial valuations of the fund at intervals of five years, or oftener if deemed necessary by him.

1 of 1 references resolved to an enrolled provision

Editorial Notes

Prior Provisions

A prior section 261 of Pub. L. 88–643, title II, Oct. 13, 1964, 78 Stat. 1052; Pub. L. 94–522, title I, § 102, Oct. 17, 1976, 90 Stat. 2467; Ex. Ord. No. 12443, § 12, Sept. 27, 1983, 48 F.R. 44754; Pub. L. 99–335, title V, § 501(2), (3), June 6, 1986, 100 Stat. 622, related to estimate of appropriations needed and was set out as a note under section 403 of this title prior to the general amendment of Pub. L. 88–643 by section 802 of Pub. L. 102–496.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on first day of fourth month beginning after Oct. 24, 1992, see section 805 of Pub. L. 102–496, set out as a note under section 2001 of this title.

Credits

(Pub. L. 88–643, title II, § 261, as added Pub. L. 102–496, title VIII, § 802, Oct. 24, 1992, 106 Stat. 3234.)