
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC3715a]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                        CHAPTER 51--PANAMA CANAL
 
              SUBCHAPTER I--ADMINISTRATION AND REGULATIONS
 
                       Part 3--Funds and Accounts
 
                            subpart i--funds
 
Sec. 3715a. Operation of Fund


(a) Deposits to Fund

    The Panama Canal Commission shall make deposits on a regular basis 
to the Fund, beginning on October 1, 1988, to accumulate an amount 
sufficient to defray the estimated total cost of liability for the 
workers' compensation benefits and other payments payable under chapter 
81 of title 5 for the disability or death of employees of the Panama 
Canal Commission or any of its predecessor agencies on account of 
injuries sustained on or before December 31, 1999, except for those 
claims arising before, on, or after October 1, 1988, for which the 
Secretary of Labor has assumed fiscal responsibility.

(b) Calculation of amounts to be deposited

    The amounts deposited under subsection (a) of this section shall be 
based upon periodic actuarial studies conducted by experts or 
consultants whose services are procured by the Panama Canal Commission 
by contract. The amounts of such deposits shall take into consideration 
interest earnings in accordance with subsection (c) of this section and 
expected cost of living adjustments as provided in section 8146a of 
title 5, but not amounts payable by the Commission for continuation of 
pay pursuant to section 8118 of such title.

(c) Investment of amounts in Fund

    The Secretary of the Treasury, upon the request of the Secretary of 
Labor, shall invest moneys in the Fund in public debt securities which 
shall bear interest at rates determined by the Secretary of the 
Treasury, taking into consideration the current average market yield on 
outstanding marketable obligations of the United States of comparable 
maturity. Such interest shall be credited to and form a part of the 
Fund.

(Pub. L. 100-705, Sec. 3, Nov. 19, 1988, 102 Stat. 4685.)

                          Codification

    Section was enacted as part of the Panama Canal Commission 
Compensation Fund Act of 1988, and not as part of the Panama Canal Act 
of 1979 which comprises this chapter.


                             Effective Date

    Section effective Oct. 1, 1988, see section 10 of Pub. L. 100-705, 
set out as an Effective Date of 1988 Amendment note under section 3612 
of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 3715b, 3715c of this title.
