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Code · BILL · 116th Congress · H.R. 6395 (Engrossed in House) — To authorize appropriations for fiscal year 2021 for military activities of the Department of Defense, for military c... · Sec. 9214

Sec. 9214. Determination of contributions to Fund

410 words·~2 min read·/bill/116/hr/6395/eh/section-9214

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Section 1465 of title 10, United States Code, is amended— in subsection (a)— by striking and inserting the following:
(a)Not Not ; and by adding at the end the following: Not later than October 1, 2022, the Board of Actuaries shall determine the amount that is the present value (as of September 30, 2022) of future benefits payable from the Fund that are attributable to service in the Coast Guard performed before October 1, 2022. That amount is the original Coast Guard unfunded liability of the Fund. The Board shall determine the period of time over which the original Coast Guard unfunded liability should be liquidated and shall determine an amortization schedule for the liquidation of such liability over that period. Contributions to the Fund for the liquidation of the original Coast Guard unfunded liability in accordance with such schedule shall be made as provided in section 1466(b) of this title. ; in subsection (b)— in paragraph (1)— in the matter preceding subparagraph (A)— by inserting , in consultation with the Secretary of the department in which the Coast Guard is operating, after Secretary of Defense ; and by inserting and Coast Guard after Department of Defense ; in subparagraph (A)(ii) by striking (other than the Coast Guard) and inserting members of the Armed Forces ; and in subparagraph (B)(ii) by striking (other than the Coast Guard) ; in paragraph
(2)by inserting the Coast Guard Retired Pay account and the after appropriated to ; and in paragraph
(3)by inserting and Coast Guard after Department of Defense ; in subsection (c)— in paragraph (1)— in the matter preceding subparagraph
(A)by inserting , in consultation with the Secretary of the department in which the Coast Guard is operating, after Secretary of Defense ; in subparagraph
(A)by striking (other than the Coast Guard) and inserting members of the Armed Forces ; in subparagraph
(B)by striking (other than the Coast Guard) ; in paragraph
(2)by inserting , in consultation with the Secretary of the department in which the Coast Guard is operating, after Secretary of Defense ; in paragraph
(3)by inserting , in consultation with the Secretary of the department in which the Coast Guard is operating, after Secretary of Defense ; in subsection
(e)by striking Secretary of Defense shall and inserting Secretary of Defense and, with regard to the Coast Guard, the Secretary of the department in which the Coast Guard is operating .
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