(a) Determination of actuarial valuations. -- The Trustee shall engage an enrolled actuary (as defined in § 7701(a)(35) of the Internal Revenue Code of 1986) who is a member of the American Academy of Actuaries to perform an annual actuarial valuation (in a manner and form determined by the Secretary) of the Trust Fund and the Federal Supplemental Fund for obligations assumed by the Federal Government under this chapter.
(b) Annual report on status of Funds. -- The enrolled actuary shall prepare and submit to the Secretary and the Trustee an annual report on the actuarial status of the Trust Fund and the Federal Supplemental Fund, and shall include in the report:
(1) A projection of when assets in the Trust Fund will be insufficient to pay benefits and necessary administrative expenses when due; and
(2) A determination of the annual payment to the Federal Supplemental Fund under § 1-811.03.
(Aug. 5, 1997, 111 Stat. 727, Pub. L. 105-33, § 11061; Apr. 20, 1999, D.C. Law 12-264, § 6(b), 46 DCR 2118.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 1-767.1.
Legislative History of Laws
For legislative history of D.C. Law 12-264, see Historical and Statutory Notes following § 1-811.04.
References in Text
"Section 7701(a)(35) of the Internal Revenue Code of 1986," referred to in (a), is codified as 26 U.S.C. § 7701(a)(35).
(a) In general. -- The Comptroller General is authorized to conduct evaluations of the administration of this chapter to ensure that the Trust Fund and Federal Supplemental Fund are being properly administered and shall report the findings of such evaluations to the Secretary and the Congress.
(b) Access to information. -- For the purpose of evaluations under subsection (a) of this section the Comptroller General, subject to § 6103 of the Internal Revenue Code of 1986, shall have access to and the right to copy any books, accounts, records, correspondence or other pertinent documents that are in the possession of the Secretary or the Trustee, or any contractor or subcontractor of the Secretary or the Trustee.
(Aug. 5, 1997, 111 Stat. 728, Pub. L. 105-33, § 11062.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 1-767.2.
References in Text
"Section 6103 of the Internal Revenue Code of 1986," referred to in (b), is codified as 26 U.S.C. § 6103.
