
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 10USC12528]

 
                         TITLE 10--ARMED FORCES
 
                     Subtitle E--Reserve Components
 
                      PART II--PERSONNEL GENERALLY
 
        CHAPTER 1214--READY RESERVE MOBILIZATION INCOME INSURANCE
 
Sec. 12528. Reserve Mobilization Income Insurance Fund

    (a) Establishment.--There is established on the books of the 
Treasury a fund to be known as the ``Reserve Mobilization Income 
Insurance Fund'', which shall be administered by the Secretary of the 
Treasury. The Fund shall be used for the accumulation of funds in order 
to finance the liabilities of the insurance program on an actuarially 
sound basis.
    (b) Assets of Fund.--There shall be deposited into the Fund the 
following:
        (1) Premiums paid under section 12527 of this title.
        (2) Any amount appropriated to the Fund.
        (3) Any return on investment of the assets of the Fund.

    (c) Availability.--Amounts in the Fund shall be available for paying 
insurance benefits under the insurance program.
    (d) Investment of Assets of Fund.--The Secretary of the Treasury 
shall invest such portion of the Fund as is not in the judgment of the 
Secretary of Defense required to meet current liabilities. 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 interest at rates determined by the Secretary of the Treasury, 
taking into consideration current market yields on outstanding 
marketable obligations of the United States of comparable maturities. 
The income on such investments shall be credited to the Fund.
    (e) Annual Accounting.--At the beginning of each fiscal year, the 
Secretary, in consultation with the Board of Actuaries and the Secretary 
of the Treasury, shall determine the following:
        (1) The projected amount of the premiums to be collected, 
    investment earnings to be received, and any transfers or 
    appropriations to be made for the Fund for that fiscal year.
        (2) The amount for that fiscal year of any cumulative unfunded 
    liability (including any negative amount or any gain to the Fund) 
    resulting from payments of benefits.
        (3) The amount for that fiscal year (including any negative 
    amount) of any cumulative actuarial gain or loss to the Fund.

(Added Pub. L. 104-106, div. A, title V, Sec. 512(a)(1), Feb. 10, 1996, 
110 Stat. 302.)

                  Section Referred to in Other Sections

    This section is referred to in section 12521 of this title.
