Sec. 11032. USES OF AMOUNTS IN TRUST FUND
188 words·~1 min read·
/statute-compilations/comps-10833/sec-11032A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 11032 USES OF AMOUNTS IN TRUST FUND ###
(a)In General Amounts in the Trust Fund shall be used— ####
(1)to make Federal benefit payments under this subtitle; ####
(2)subject to subsection (b)(1), to cover the reasonable and necessary expenses of administering the Trust Fund under the contract entered into pursuant to section 11035(b); ####
(3)to cover the reasonable and necessary administrative expenses incurred by the Secretary in carrying out the Secretary's responsibilities under this subtitle; and ####
(4)for such other purposes as are specified in this subtitle. ###
(b)Special Rules Regarding Administrative Expenses ####
(1)Budgeting; certification and approval The administrative expenses of the Trust Fund shall be paid in accordance with an annual budget set forth by the Trustee which shall be subject to certification and approval by the Secretary. ####
(2)Use of District retirement fund for interim administration The Secretary is authorized to requisition from the District Retirement Fund such sums as are necessary to administer the Trust Fund (including expenses described in section 11041(b)) until assets are transferred to the Trust Fund pursuant to section 11033.