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District of Columbia Code Division I. Government of District. § 1-811.01. Creation of Federal Supplemental Fund.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Establishment. -- There is established on the books of the Treasury the Federal Supplemental District of Columbia Pension Fund, which shall be administered by the Secretary and shall consist of the following assets:

(1) Amounts deposited into such Fund under the provisions of this chapter.

(2) Any amount otherwise appropriated to such Fund.

(3) Any income earned on the investment of the assets of such Fund pursuant to subsection (b) of this section.

(b) Investment of assets. -- The Secretary shall invest such portion of the Federal Supplemental Fund as is not in the judgment of the Secretary required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable to the needs of the Federal Supplemental Fund, as determined by the Secretary, and bearing interest at rates determined by the Secretary, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities.

(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 Federal Supplemental Fund.

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 1-811.01. Creation of Federal Supplemental Fund. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-1-811-01/

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