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22 U.S.C. § 3715c — Operation of Fund
Federal law — U.S. Code and appendices · legal_authorities
**(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8146a&num=0&edition=prelim), 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.
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Source location: Title 22, Chapter 51, § 3715c; chapter-051-panama-canal.md
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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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section8146a&num=0&edition=prelim), 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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) References to Panama Canal Treaty of 1977 and related agreements** For purposes of this chapter—
(1) references to the Panama Canal Treaty of 1977 refer to the Panama Canal Treaty between the United States of America and the Republic of Panama, signed September 7, 1977; and
(2) references to the Panama Canal Treaty of 1977 and related agreements refer to the Panama Canal Treaty of 1977, the agreements relating to and implementing that Treaty, signed September 7, 1977, and the Agreement Between the United States of America and the Republic of Panama Concerning Air Traffic Control and Related Services, concluded January 8, 1979.
**(b) Definitions** Subject to the provisions of subsection (c) of this section, for purposes of applying laws of the United States and regulations issued pursuant to such laws with respect to transactions, occurrences, or status on or after October 1, 1979—
(1) “Canal Zone” shall be deemed to refer to the areas and installations in the Republic of Panama made available to the United States pursuant to the Panama Canal Treaty of 1977 and related agreements;
(2) “Canal Zone waters” and “waters of the Canal Zone” shall be deemed to refer to “Panama Canal waters” and “waters of the Panama Canal”, respectively;
(3) “Government of the Canal Zone” or “Canal Zone Government” shall be deemed to refer to the United States of America;
(4) “Governor of the Canal Zone” or “Governor”, wherever the reference is to the Governor of the Canal Zone, shall be deemed to refer to the Panama Canal Commission; and
(5) “Panama Canal Company” or “Company”, wherever the reference is to the Panama Canal Company, shall be deemed to refer to the Panama Canal Commission.
**(c) Applicability of subsection (b)** Any reference set forth in subsection (b) of this se
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 3612
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Compensation payable on account of disability or death which occurred more than one year before March 1 of each year shall be annually increased on that date by the amount determined by the Secretary of Labor to represent the percent change in the price index published for December of the preceding year over the price index published for the December of the year prior to the preceding year, adjusted to the nearest one-tenth of 1 percent.
**(b)** The regular periodic compensation payments after adjustment under this section shall be fixed at the nearest dollar. However, the regular periodic compensation after adjustment shall reflect an increase of at least $1.
**(c)** This section shall be applicable to persons excluded by section 15 of the Federal Employees’ Compensation Act Amendments of 1966 (Public Law 89–488) under the following statutes: Act of February 15, 1934 (48 Stat. 351); Act of June 26, 1936 (49 Stat. 2035); Act of April 8, 1935 (49 Stat. 115); Act of July 25, 1942 (56 Stat. 710); Public Law 84–955 (August 3, 1956); Public Law 77–784 (December 2, 1942); Public Law 84–879 (August 1, 1956); Public Law 80–896 (July 3, 1948); Act of September 8, 1959 (73 Stat. 469). Benefit payments to these persons shall initially be increased by the total percentage of the increases in the price index from the base month of July 1966, to the next most recent base month following the effective date of this subsection.
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Federal law — U.S. Code and appendices · legal_authorities
Page 1400
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 3715b
ficient to defray the estimated total cost of li-
ability 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 sus-
tained 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 as-
sumed 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 serv-
ices are procured by the Panama Canal Commis-
sion 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 pro-
vided 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 re-
quest 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 con-
sideration the current average market yield on
outstanding
marketable
obligations
of
the
United States of comparable maturity. Such in-
terest shall be credited to and form a part of the
Fund.
(Pub. L. 100–705, § 3, Nov. 19, 1988, 102 Stat. 4685.)
Editorial Notes
CODIFICATION
Section was enacted as part of the Panama Canal
Commission Compensation Fund Act of 1988, and not as
part of the Panama Canal Act of 197
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 3715c
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