10 U.S.C. § 1467 — Investment of assets of Fund

Page 1394 TITLE 10—ARMED FORCES § 1467 Subsec. (a)(2)(B). Pub. L. 109–364, § 591(b)(2), sub- stituted ‘‘Selected Reserve’’ for ‘‘Ready Reserve’’ and ‘‘Coast Guard) for service’’ for ‘‘Coast Guard and other than members on full-time National Guard duty other than for training) who are’’. 2004—Subsec. (b)(2)(D). Pub. L. 108–375 substituted ‘‘1413a’’ for ‘‘1413, 1413a,’’. 2003—Subsec. (b)(1). Pub. L. 108–136, § 641(c)(5)(A), sub- stituted ‘‘sections 1465(a), 1465(b)(3), 1465(c)(2), and 1465(c)(3)’’ for ‘‘sections 1465(a) and 1465(c)’’. Subsec. (b)(2)(D). Pub. L. 108–136, § 641(c)(5)(B), added subpar. (D). 1999—Subsec. (c). Pub. L. 106–65 added subsec. (c). 1987—Subsec. (a). Pub. L. 100–26, § 7(a)(3), inserted at end ‘‘Amounts paid into the Fund under this subsection shall be paid from funds available for the pay of mem- bers of the armed forces under the jurisdiction of the Secretary of a military department.’’ Subsec. (a)(1)(B), (2)(B). Pub. L. 100–26, § 4(a)(1), amended Pub. L. 99–500 and 99–591, title I, § 101(c) [title IX, § 9103(3)]. See 1986 Amendment note below. 1986—Subsec. (a). Pub. L. 99–661 amended first sen- tence of subsec. (a), which after amendment by Pub. L. 99–500 and Pub. L. 99–591 was the only sentence of sub- sec. (a), by substituting language which was substan- tially identical to that substituted by Pub. L. 99–500 and Pub. L. 99–591. Pub. L. 99–500 and Pub. L. 99–591, title I, § 101(c) [§ 9131], amended subsec. (a) generally. Prior to amend- ment, subsec. (a) read as follows: ‘‘The Secretary of De- fense shall pay into the Fund at the end of each month as the Department of Defense contribution to the Fund for that month the amount that is the product of— ‘‘(1) the level percentage of basic pay determined under the most recent (as of the first day of the cur- rent fiscal year) actuarial valuation under section 1465(c) of this title; and ‘‘(2) the total amount of basic pay paid that month to members of the armed forces (other than the Coast Guard) on active duty or in the Selected Reserve. Amounts paid into the Fund under this subsection shall be paid from funds available for the pay of members of the armed forces under the jurisdiction of the Sec- retary of a military department.’’ Subsec. (a)(1)(B), (2)(B). Pub. L. 99–500 and Pub. L. 99–591, title I, § 101(c) [title IX, § 9103(3)], as amended by Pub. L. 100–26, § 4(a)(1), substituted ‘‘accrued for that month by’’ for ‘‘paid that month to’’ in pars. (1)(B) and (2)(B) as amended by section 661(b) of Pub. L. 99–661, see above. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2008 AMENDMENT Pub. L. 110–181, div. A, title X, § 1063(c), Jan. 28, 2008, 122 Stat. 322, provided that the amendment made by section 1063(c)(4) is effective as of Oct. 17, 2006, and as if included in the John Warner National Defense Au- thorization Act for Fiscal Year 2007, Pub. L. 109–364, as enacted. EFFECTIVE DATE OF 2006 AMENDMENT Amendment by Pub. L. 109–364 effective Oct. 1, 2007, see section 591(c) of Pub. L. 109–364, set out as a note under section 1465 of this title. EFFECTIVE DATE OF 2003 AMENDMENT Amendment by Pub. L. 108–136 effective Oct. 1, 2003, with Secretary of Defense to provide for certain admin- istrative adjustments, see section 641(c)(6) of Pub. L. 108–136, set out as a note under section 1413a of this title. EFFECTIVE DATE OF 1999 AMENDMENT Pub. L. 106–65, div. A, title VI, § 651(c), Oct. 5, 1999, 113 Stat. 664, provided that: ‘‘The amendments made by this section [amending this section and repealing sec- tion 5532 of Title 5, Government Organization and Em- ployees] shall take effect on October 1, 1999.’’ EFFECTIVE DATE OF 1987 AMENDMENT Pub. L. 100–26, § 12(b), Apr. 21, 1987, 101 Stat. 289, pro- vided that: ‘‘The amendments made by section 4 [amending this section and provisions set out as a note under section 1014 of Title 37, Pay and Allowances of the Uniformed Services] shall apply as if included in Public Laws 99–500 and 99–591 when enacted on October 18, 1986, and October 30, 1986, respectively.’’ EFFECTIVE DATE OF 1986 AMENDMENTS Amendment by Pub. L. 99–661 applicable to payments required to be made under subsec. (a) of this section for months beginning on or after Nov. 14, 1986, see section 661(d) of Pub. L. 99–661, set out as a note under section 1465 of this title. Amendment by section 101(c) [title IX, § 9131] of Pub. L. 99–500 and Pub. L. 99–591 effective Oct. 18, 1986, and applicable to payments required to be made under sub- sec. (a) of this section for months beginning on or after that date, see section 642(c) of S. 2638, as enacted into law, set out as a note under section 1465 of this title. Amendment by section 101(c) [title IX, § 9103(3)] of Pub. L. 99–500 and Pub. L. 99–591 effective Sept. 1, 1987, see section 101(c) [title IX, § 9103(4)] of Pub. L. 99–500 and Pub. L. 99–591, as amended, set out as an Effective Date note under section 1014 of Title 37, Pay and Allow- ances of the Uniformed Services. EFFECTIVE DATE Section effective Oct. 1, 1984, see section 925(b)(2) of Pub. L. 98–94, set out as a note under section 1463 of this title. § 1467. Investment of assets of Fund The Secretary of the Treasury shall invest such portion of the Fund as is not in the judg- ment of the Secretary of Defense required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable to the needs of the Fund, as determined by the Secretary of Defense, and bearing inter- est at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obli- gations of the United States of comparable ma- turities. The income on such investments shall be credited to and form a part of the Fund. (Added Pub. L. 98–94, title IX, § 925(a)(1), Sept. 24, 1983, 97 Stat. 648.) CHAPTER 75—DECEASED PERSONNEL Subchapter Sec. I. Death Investigations ............................. 1471 II. Death Benefits ....................................... 1475 Editorial Notes AMENDMENTS 1999—Pub. L. 106–65, div. A, title VII, § 721(a), Oct. 5, 1999, 113 Stat. 692, substituted ‘‘DECEASED PER- SONNEL’’ for ‘‘DEATH BENEFITS’’ as chapter heading and added subchapter analysis. Statutory Notes and Related Subsidiaries NOTIFICATION TO NEXT OF KIN UPON THE DEATH OF A MEMBER OF THE ARMED FORCES: STUDY; UPDATE; TRAINING; REPORT Pub. L. 117–263, div. A, title V, § 527, Dec. 23, 2022, 136 Stat. 2572, provided that: ‘‘(a) STUDY.—Not later than 180 days after the date of the enactment of this Act [Dec. 23, 2022], the Secretary of Defense shall conduct a study on the notification processes of the next of kin upon the death of a member