Page:United States Statutes at Large Volume 111 Part 1.djvu/750

 Ill STAT. 726 PUBLIC LAW 105-33—AUG. 5, 1997 (1) Amounts deposited into such Fund under the provisions of this subtitle. (2) Any amount otherwise appropriated to such Fund. (3) Any income earned on the investment of the assets of such Fund pursuant to subsection (b). (b) INVESTMENT OF ASSETS.— The Secretary shall invest such portion of the Federal Supplemental Fund as is not in the judgment of the Secretary required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable to the needs of the Federal Supplemental Fund, as determined by the Secretary, and bearing interest at rates determined by the Secretary, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. (c) RECORDKEEPING FOR ACTUARIAL STATUS.— The Secretary shall provide for the keeping of such records as are necessary for determining the actuarial status of the Federal Supplemental Fund. SEC. 11052. USES OF AMOUNTS IN FUND. Amounts in the Federal Supplemental Fund shall be used for the accumulation of funds in order to finance obligations of the Federal Government for benefits and necessary administrative expenses under the provisions of this subtitle, in accordance with the methodology selected by the Secretary under section 11054(b), except that payments from the Fund for administrative expenses may be made only the extent and in such amounts as are provided in advance in appropriations acts. SEC. 11053. DETERMINATION OF ANNUAL PAYMENT INTO FEDERAL SUPPLEMENTAL FUND. (a) IN GENERAL.— At the end of each applicable fiscal year the Secretary shall promptly pay into the Federal Supplemental Fund from the General Fund of the Treasury an amount equal to the sum of— (1) the annual amortization amount for the year (which may not be less than zero); and (2) the covered administrative expenses for the year. (b) DETERMINATION OF AMOUNTS. —For purposes of this section: (1) The "original unfunded liability is the amount that is the present value as of the freeze date of future benefits payable from the Federal Supplemental Fund. (2) The "annual amortization amount" is the amount determined by the enrolled actuary to be necessary to amortize in equal sinnual installments (until fully amortized)— (A) the original unfunded liability over a 30-year period; (B) a net experience gain or loss over a 10-year period; and (C) any other changes in actuarial liability over a 20- year period. (3) The "covered administrative expenses" are the expenses determined by the Secretary (on an annual basis) to be necessary to administer the Federal Supplemental Fund. (c) TIMING.— The first applicable fiscal year under subsection (a) is the first fiscal year that ends more than six months after the replacement plan adoption date.

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