Page:United States Statutes at Large Volume 97.djvu/677

 PUBLIC LAW 98-94—SEPT. 24, 1983 97 STAT. 645 former members of the armed forces, including chapter 73 of this title, section 4 of Public Law 92-425, and section 5 of Public Law 96-402. "§1462. Assets of Fund "There shall be deposited into the Fund the following, which shall constitute the assets of the Fund: "(1) Amounts paid into the Fund under section 1466 of this title. "(2) Any amount appropriated to the Fund. "(3) Any return on investment of the assets of the Fund. "§ 1463. Payments from the Fund "(a) There shall be paid from the Fund— "(1) retired pay payable to persons on the retired lists of the Army, Navy, Air Force, and Marine Corps; "(2) retainer pay payable to members of the Fleet Reserve and Fleet Marine Corps Reserve; and "(3) benefits payable under programs under the jurisdiction of the Department of Defense that provide annuities for survivors of members and former members of the armed forces, including chapter 73 of this title, section 4 of Public Law 92-425, and section 5 of Public Law 96-402. "(b) The assets of the Fund are hereby made available for pay- ments under subsection (a). "§ 1464. Board of Actuaries "(a)(1) There is established in the Department of Defense a De- partment of Defense Retirement Board of Actuaries (hereinafter in this chapter referred to as the 'Board'). The Board shall consist of three members, who shall be appointed by the President from among qualified professional actuaries who are members of the Society of Actuaries. "(2)(A) Except as provided in subparagraph (B), the members of the Board shall serve for a term of 15 years, except that a member of the Board appointed to fill a vacancy occurring before the end of the term for which his predecessor was appointed shall only serve until the end of such term. A member may serve after the end of his term until his successor has taken office. A member of the Board may be removed by the President for misconduct or failure to perform functions vested in the Board, and for no other reason. "(B) Of the members of the Board who are first appointed under this subsection, one each shall be appointed for terms ending five, ten, and fifteen years, respectively, after the date of appointment, as designated by the President at the time of appointment. "(3) A member of the Board who is not otherwise an employee of the United States is entitled to receive pay at the daily equivalent of the annual rate of basic pay of the highest rate of basic pay then currently being paid under the General Schedule of subchapter III of chapter 53 of title 5, for each day the member is engaged in the performance of duties vested in the Board and is entitled to travel expenses, including a per diem allowance, in accordance with sec- tion 5703 of title 5. "(b) The Board shall report to the Secretary of Defense annually on the actuarial status of the Fund and shall furnish its advice and opinion on matters referred to it by the Secretary. 10 USC 1431 et seq., 1448notes. 10 USC 1462. 10 USC 1463. 10 USC 1431 et seq. 10 USC 1448 notes. 10 USC 1464. Membership. Term of office. Removal. Pay and per diem allowance. 5 USC 5331. 5 USC 5703. Annual report to Defense Secretary.

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