Page:United States Statutes at Large Volume 118.djvu/3997

 118 STAT. 3967 PUBLIC LAW 108–489—DEC. 23, 2004 ‘‘(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 D.C. Federal Pension Fund. ‘‘SEC. 11082. USES OF AMOUNTS IN FUND. ‘‘(a) IN GENERAL.—Amounts in the D.C. Federal Pension Fund shall be used— ‘‘(1) to make Federal benefit payments under this subtitle; ‘‘(2) subject to subsection (b), to cover the reasonable and necessary administrative expenses incurred by any person in administering the D.C. Federal Pension Fund and carrying out this chapter; ‘‘(3) for the accumulation of funds in order to finance obliga- tions of the Federal Government for future benefits; and ‘‘(4) for such other purposes as are specified in this subtitle. ‘‘(b) BUDGETING, CERTIFICATION, AND APPROVAL OF ADMINISTRA- TIVE EXPENSES.—The administrative expenses of the D.C. Federal Pension Fund shall be paid in accordance with an annual budget set forth by the Pension Fund Trustee which shall be subject to certification and approval by the Secretary. ‘‘SEC. 11083. TRANSFER OF ASSETS AND OBLIGATIONS OF TRUST FUND AND FEDERAL SUPPLEMENTAL FUND. ‘‘(a) TRANSFER OF OBLIGATIONS.—Effective October 1, 2004, all obligations to make Federal benefit payments shall be transferred from the Trust Fund to the D.C. Federal Pension Fund. ‘‘(b) TRANSFER OF ASSETS.—Effective October 1, 2004, all assets of the Trust Fund and all assets of the Federal Supplemental Fund as of such date shall be transferred to the D.C. Federal Pension Fund. ‘‘SEC. 11084. DETERMINATION OF ANNUAL FEDERAL PAYMENTS INTO D.C. FEDERAL PENSION FUND. ‘‘(a) ANNUAL AMORTIZATION AMOUNT.— ‘‘(1) IN GENERAL.—At the end of each fiscal year (beginning with fiscal year 2005), the Secretary shall promptly pay into the D.C. Federal Pension Fund from the general fund of the Treasury an amount equal to the annual amortization amount for the year (which may not be less than zero). ‘‘(2) DETERMINATION OF AMOUNT.—For purposes of para- graph (1)— ‘‘(A) the ‘original unfunded liability’ is the present value as of the effective date of this Act of expected future benefits payable from the Federal Supplemental Fund; and ‘‘(B) the ‘annual amortization amount’ means the amount determined by the enrolled actuary to be necessary to amortize in equal annual installments (until fully amor- tized)— ‘‘(i) the original unfunded liability over a 30-year period, ‘‘(ii) a net experience gain or loss over a 10-year period, and ‘‘(iii) any other changes in actuarial liability over a 20-year period. ‘‘(3) SCHEDULE FOR AMORTIZATION.—In determining the annual amortization amount under paragraph (2)(B), the enrolled actuary shall include amounts necessary to complete Effective date. Effective dates. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00501 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

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