Page:United States Statutes at Large Volume 118.djvu/3996

 118 STAT. 3966 PUBLIC LAW 108–489—DEC. 23, 2004 Public Law 108–489 108th Congress An Act To amend the Balanced Budget Act of 1997 to improve the administration of Federal pension benefit payments for District of Columbia teachers, police officers, and fire fighters, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ‘‘District of Columbia Retirement Protection Improvement Act of 2004’’. SEC. 2. ESTABLISHMENT OF DISTRICT OF COLUMBIA FEDERAL PEN- SION FUND FOR PAYMENT OF FEDERAL BENEFIT PAY- MENTS TO DISTRICT OF COLUMBIA TEACHERS, POLICE OFFICERS, AND FIRE FIGHTERS. (a) IN GENERAL.—Subtitle A of title XI of the Balanced Budget Act of 1997 (sec. 1—801.01 et seq., D.C. Official Code) is amended— (1) by redesignating chapter 9 as chapter 10; (2) by redesignating sections 11081 through 11087 as sec- tions 11091 through 11097; and (3) by inserting after chapter 8 the following new chapter: ‘‘CHAPTER 9—DISTRICT OF COLUMBIA FEDERAL PENSION FUND ‘‘SEC. 11081. CREATION OF FUND. ‘‘(a) ESTABLISHMENT.—There is established on the books of the Treasury the District of Columbia Teachers, Police Officers, and Firefighters Federal Pension Fund (hereafter referred to as the ‘D.C. Federal Pension Fund’), consisting of the following: ‘‘(1) The assets transferred pursuant to section 11083. ‘‘(2) The annual Federal payments deposited pursuant to section 11084. ‘‘(3) Any amounts otherwise appropriated to such Fund. ‘‘(4) 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 assets of the D.C. Federal Pension Fund as is not in the judgment of the Secretary required to meet current with- drawals. Such investments shall be in public debt securities with maturities suitable to the needs of the D.C. Federal Pension Fund, as determined by the Secretary, and bearing interest at rates deter- mined by the Secretary, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. District of Columbia Retirement Protection Improvement Act of 2004. Dec. 23, 2004 [H.R. 4657] VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00500 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

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