5 U.S.C. § 8713 — Effect of other statutes

Page 1225 TITLE 5—GOVERNMENT ORGANIZATION AND EMPLOYEES § 8714 (2) the total of all mortality and other claim charges incurred for that period; and (3) the amounts of the insurers’ expense and risk charges for that period. An excess of the total of paragraph (1) of this section over the sum of paragraphs (2) and (3) of this section shall be held by the company issuing the policy as a special contingency re- serve to be used by the company only for charges under the policy. The reserve shall bear interest at a rate determined in advance of each policy year by the company and approved by the Office as being consistent with the rates gen- erally used by the company for similar funds held under other group life insurance policies. When the Office determines that the special con- tingency reserve has attained an amount esti- mated by it to make satisfactory provision for adverse fluctuations in future charges under the policy, any further excess shall be deposited in the Treasury of the United States to the credit of the Employees’ Life Insurance Fund. When a policy is discontinued, any balance remaining in the special contingency reserve after all charges have been made shall be deposited in the Treas- ury to the credit of the Fund. The company may make the deposit in equal monthly installments over a period of not more than 2 years. (Pub. L. 89–554, Sept. 6, 1966, 80 Stat. 598; Pub. L. 95–454, title IX, § 906(a)(2), (3), Oct. 13, 1978, 92 Stat. 1224.) HISTORICAL AND REVISION NOTES Derivation U.S. Code Revised Statutes and Statutes at Large .................. 5 U.S.C. 2097(d). Aug. 17, 1954, ch. 752, § 8(d), 68 Stat. 741. The words ‘‘A policy purchased under this chapter’’ are substituted for ‘‘Each such policy’’ for clarity. The word ‘‘insurance’’, preceding the word ‘‘company’’, is omitted as unnecessary; and the word ‘‘company’’ is substituted for ‘‘company or companies’’ on authority of 1 U.S.C. 1. The words ‘‘Employees’ Life Insurance Fund’’ are substituted for ‘‘fund’’. Standard changes are made to conform with the defi- nitions applicable and the style of this title as outlined in the preface to the report. Editorial Notes AMENDMENTS 1978—Pub. L. 95–454 substituted ‘‘Office of Personnel Management’’ and ‘‘Office’’ for ‘‘Civil Service Commis- sion’’ and ‘‘Commission’’, respectively. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–454 effective 90 days after Oct. 13, 1978, see section 907 of Pub. L. 95–454, set out as a note under section 1101 of this title. § 8713. Effect of other statutes Any provision of law outside of this chapter which provides coverage or any other benefit under this chapter to any individuals who (based on their being employed by an entity other than the Government) would not otherwise be eligible for any such coverage or benefit shall not apply with respect to any individual appointed, trans- ferred, or otherwise commencing that type of employment on or after October 1, 1988. (Added Pub. L. 100–238, title I, § 108(a)(2)(A), Jan. 8, 1988, 101 Stat. 1747.) Editorial Notes PRIOR PROVISIONS A prior section 8713, Pub. L. 89–554, Sept. 6, 1966, 80 Stat. 598; Pub. L. 90–83, § 1(93), Sept. 11, 1967, 81 Stat. 219; Pub. L. 95–454, title IX, § 906(a)(1), (4), Oct. 13, 1978, 92 Stat. 1224, 1225, provided for an advisory committee to be appointed by the Director of the Office of Per- sonnel Management to be composed of five employees insured under this chapter, to serve without additional pay, to advise the Office regarding matters of concern to employees under this chapter, prior to repeal by Pub. L. 96–427, § 9(a), Oct. 10, 1980, 94 Stat. 1837, effective Oct. 10, 1980, with the repeal to have no effect in the case of an employee who died, was separated, or retired before Oct. 10, 1980. § 8714. Employees’ Life Insurance Fund (a) The amounts withheld from employees under section 8707 of this title and the sums con- tributed from appropriations and funds under section 8708 of this title shall be deposited in the Treasury of the United States to the credit of the Employees’ Life Insurance Fund. The Fund is available without fiscal year limitation for— (1) premium payments under an insurance policy purchased under this chapter; and (2) expenses incurred by the Office of Per- sonnel Management in the administration of this chapter within the limitations that may be specified annually by appropriation acts. (b) The Secretary of the Treasury may invest and reinvest any of the money in the Fund in in- terest-bearing obligations of the United States, and may sell these obligations for the purposes of the Fund. The interest on and the proceeds from the sale of these obligations, and the in- come derived from dividend or premium rate ad- justments from insurers, become a part of the Fund. (c)(1) No tax, fee, or other monetary payment may be imposed or collected by any State, the District of Columbia, or the Commonwealth of Puerto Rico, or by any political subdivision or other governmental authority thereof, on, or with respect to, any premium paid under an in- surance policy purchased under this chapter. (2) Paragraph (1) of this subsection shall not be construed to exempt any company issuing a policy of insurance under this chapter from the imposition, payment, or collection of a tax, fee, or other monetary payment on the net income or profit accruing to or realized by that com- pany from business conducted under this chap- ter, if that tax, fee, or payment is applicable to a broad range of business activity. (Pub. L. 89–554, Sept. 6, 1966, 80 Stat. 598; Pub. L. 95–454, title IX, § 906(a)(2), Oct. 13, 1978, 92 Stat. 1224; Pub. L. 96–499, title IV, § 405(a), Dec. 5, 1980, 94 Stat. 2606.)