Page:United States Statutes at Large Volume 103 Part 1.djvu/653

 PUBLIC LAW 101-94—AUG. 16, 1989 103 STAT. 625 salaries becomes effective by 3 percent for each full 5 percent by which those salaries were increased. "§ 4098. Court of Veterans Appeals Retirement Fund "(a) There is established in the Treasury a fund known as the Court of Veterans Appeals Retirement Fund. "(b) Amounts in the fund are available for the payment of judges' retired pay under section 4096 of this title and of annuities, refunds, and allowances under section 4097 of this title. "(c) Amounts deposited by, or deducted and withheld from the salary and retired pay of, a judge under section 4096 or 4097 of this title shall be deposited in the fund and credited to an individual account of the judge. "(d) The chief judge of the Court of Veterans Appeals shall submit to the President an annual estimate of the expenditures and appro- priations necessary for the maintenance and operation of the fund, and such supplemental and deficiency estimates as may be required from time to time for the same purposes, according to law. "(e)(1) The chief judge may cause periodic examinations of the retirement fund to be made by an actuary, who may be an actuary employed by another department of the Government temporarily assigned for the purpose. "(2)(A) Subject to the availability of appropriations, there shall be deposited in the Treasury to the credit of the retirement fund, not later than the close of each fiscal year, such amounts as may be required to reduce to zero the unfunded liability (if any) of the fund. Such deposits shall be taken from sums available for that fiscal year for the payment of the expenses of the Court. "(B) For purposes of subparagraph (A) of this paragraph, the term 'unfunded liability', with respect to any fiscal year, means the ^- amount estimated by the chief judge to be equal to the excess (as of ?^ the close of that fiscal year) of— "(i) the present value of all benefits payable from the fund (determined on an annual basis in accordance with section 9503 of title 31), over "(ii) the sum of— "(I) the present values of future deductions under sections 4096(i) and 4097(c) of this title and future deposits under . sections 4096(j) and 4096(d) of this title, and I' "(II) the balance in the fund as of the close of the fiscal year. "(C) Amounts deposited in the retirement fund under this para- graph shall not be credited to the account of any individual. "(f) The Secretary of the Treasury shall invest from time to time, Securities, in interest-bearing securities of the United States, such portions of the retirement fund as in such Secretary's judgment may not be immediately required for payments from the fund. The income derived from such investments shall constitute a part of the fund.". ^ (b) CLERICAL AMENDMENT.—The table of sections at the beginning ^'' of chapter 72 of such title is amended by adding at the end the following: '- "SUBCHAPTER V—RETIREMENT AND SURVIVORS ANNUITIES i "4096. Retirement of judges. "4i)7. Survivor annuities. - "4!)H. Court of Veterans Appeals Retirement Fund.".

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