unfunded liability

(2) Appropriations where unfunded liability (A) In general Not later than the close of each fiscal year, there shall be deposited in the Treasury of the United States to the credit of the survivors annuity fund, in accordance with such procedures as may be prescribed by the Comptroller General of the United States, amounts required to reduce to zero the unfunded liability (if any) of such fund. Subject to appropriation Acts, such deposits shall be taken from sums available for such fiscal year for the payment of amounts described in subsection (a)(4) and section 7443A(d), and shall immediately become an integrated part of such fund. (B) Exception The amount required by subparagraph (A) to be deposited in any fiscal year shall not exceed an amount equal to 11 percent of the aggregate amounts described in subsection (a)(4) and (a)(6) paid during such fiscal year. (C) Unfunded liability defined For purposes of subparagraph (A), the term “unfunded liability” means the amount estimated by the Secretary to be equal to the excess (as of the close of the fiscal year involved) of— (i) the present value of all benefits payable from the survivors annuity fund (determined on an annual basis in accordance with section 9503 of title 31 , United States Code), over (ii) the sum of— (I) the present values of future deductions under subsection (c) and future deposits under subsection (d), plus (II) the balance in such fund as of the close of such fiscal year. (D) Amounts not credited to individual accounts Amounts appropriated pursuant to this paragraph shall not be credited to the account of any individual for purposes of subsection (g).

Source

26 USC § 7448(c)(2)

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Scoping language

None identified, default scope is assumed to be the parent (part I) of this section.

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