[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 568 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 568

    To amend title 10, United States Code, to provide for improved 
  treatment of future actuarial gains and losses to the Department of 
                   Defense Military Retirement Fund.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 19, 1995

  Mr. Murtha introduced the following bill; which was referred to the 
                     Committee on National Security

_______________________________________________________________________

                                 A BILL


 
    To amend title 10, United States Code, to provide for improved 
  treatment of future actuarial gains and losses to the Department of 
                   Defense Military Retirement Fund.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TREATMENT OF FUTURE ACTUARIAL GAINS AND LOSSES TO DEPARTMENT 
              OF DEFENSE MILITARY RETIREMENT FUND.

    (a) Determination of Contributions to the Fund.--Section 1465 of 
title 10, United States Code, is amended--
            (1) in subsection (b)(1), by adding at the end the 
        following new subparagraph:
            ``(C) The amount (including any negative amount) expected 
        to be paid into the Fund for that fiscal year under section 
        1466(c)(1) of this title.'';
            (2) in subsection (b)(2), by striking out ``section 
        1466(a)'' and inserting in lieu thereof ``subsections (a) and 
        (c) of section 1466'';
            (3) in subsection (c)(2), by inserting after ``created by 
        such change'' the following: ``attributable to service 
        performed before October 1, 1984, and a separate such 
        amortization methodology and schedule with respect to service 
        performed on or after October 1, 1984,''; and
            (4) in subsection (c)(3), by inserting after ``such change 
        in assumptions'' the following: ``attributable to service 
        performed before October 1, 1984, and a separate such 
        amortization methodology and schedule with respect to service 
        performed on or after October 1, 1984,''.
    (b) Payments Into the Fund.--Section 1466 of such title is 
amended--
            (1) in subsection (b)(2), by inserting ``attributable to 
        service performed before October 1, 1984,'' in subparagraphs 
        (B) and (C) after ``to the Fund''; and
            (2) by adding at the end the following new subsection:
    ``(c)(1) At the beginning of each fiscal year, the Secretary of 
Defense shall promptly pay into the Fund the amount determined under 
paragraph (2). Amounts (including negative amounts) paid into the Fund 
under this paragraph shall be paid from funds available for the pay of 
members of the armed forces under the jurisdiction of the Secretary of 
a military department (or used to offset amounts paid under subsection 
(a)).
    ``(2) At the beginning of each fiscal year, the Secretary of 
Defense shall determine the amount equal to the sum of the following:
            ``(A) The amount (including any negative amount) for that 
        year under the most recent amortization schedule determined by 
        the Secretary of Defense under section 1465(c)(2) of this title 
        for the amortization of any cumulative unfunded liability (or 
        any gain) to the Fund attributable to service performed on or 
        after October 1, 1984, resulting from changes in benefits.
            ``(B) The amount (including any negative amount) for that 
        year under the most recent amortization schedule determined by 
        the Secretary of Defense under section 1465(c)(3) of this title 
        for the amortization of any cumulative actuarial gain or loss 
        to the Fund attributable to service performed on or after 
        October 1, 1984.''.
    (c) Effective Date.--The amendments made by this section shall take 
effect with respect to the budget for fiscal year 1997 and payments 
into the Department of Defense Military Retirement Fund for fiscal year 
1997.
                                 <all>