§ 3715a. Operation of Fund

342 words·~2 min read·/usc/title-22/section-3715a

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(a)Deposits to Fund The Panama Canal Commission shall make deposits on a regular basis to the Fund, beginning on October 1, 1988, to accumulate an amount sufficient to defray the estimated total cost of liability for the workers’ compensation benefits and other payments payable under chapter 81 of title 5 for the disability or death of employees of the Panama Canal Commission or any of its predecessor agencies on account of injuries sustained on or before December 31, 1999, except for those claims arising before, on, or after October 1, 1988, for which the Secretary of Labor has assumed fiscal responsibility.

(b)Calculation of amounts to be deposited The amounts deposited under subsection

(a)shall be based upon periodic actuarial studies conducted by experts or consultants whose services are procured by the Panama Canal Commission by contract. The amounts of such deposits shall take into consideration interest earnings in accordance with subsection

(c)of this section and expected cost of living adjustments as provided in section 8146a of title 5, but not amounts payable by the Commission for continuation of pay pursuant to section 8118 of such title.

(c)Investment of amounts in Fund The Secretary of the Treasury, upon the request of the Secretary of Labor, shall invest moneys in the Fund in public debt securities which shall bear interest at rates determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturity. Such interest shall be credited to and form a part of the Fund.

(Pub. L. 100–705, § 3, Nov. 19, 1988, 102 Stat. 4685.)

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U.S. Code

statutes-at-large

Public Law 100–705
To establish the Panama Canal Commission Compensation Fund to provide for the accumulation of funds to meet the Panama Canal Commission’s obligations under chapter 81 of title 5, United States Code, and for other purposes

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U.S. Code

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Pub. L. 100–705, § 3
102 Stat. 4685
section 10 of Pub. L. 100–705

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cites case law

§ 3715a

Operation of Fund

U.S.C.×6

Stat.×1

U.S.C.§ 8146a

U.S.C.§ 3612

Pub. L.Pub. L. 100–705, § 3

Stat.102 Stat. 4685

Pub. L.section 10 of Pub. L. 100–705

Cites 5Cited by 7 across 2 sources