(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 [26 U.S.C. § 7701(a)(35)]) 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.)
Prior Codifications1981 Ed., § 1-767.1.
Section ReferencesThis section is referenced in § 1-801.02 and § 1-817.06.
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).