22 USC 4062 - Unfunded liability obligations

U.S Code last checked for updates: Nov 22, 2024

§ 4062.

Unfunded liability obligations

(a)

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—

(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, 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.

(b)

Credit to Fund

(c)

Reports to Congress

(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.)

cite as: 22 USC 4062