
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC1927]

 
                      TITLE 38--VETERANS' BENEFITS
 
                        PART II--GENERAL BENEFITS
 
                          CHAPTER 19--INSURANCE
 
              SUBCHAPTER I--NATIONAL SERVICE LIFE INSURANCE
 
Sec. 1927. Authority for higher monthly installments payable to 
        certain annuitants
        
    (a) Subject to subsections (b) and (c) of this section, the 
Secretary may from time to time adjust the dollar amount of the monthly 
installments payable to a beneficiary of National Service Life 
Insurance, Veterans Special Life Insurance, or Veterans Reopened 
Insurance who is receiving the proceeds of such insurance under a life 
annuity settlement option. The Secretary may make such an adjustment 
only if the Secretary determines that the adjustment is administratively 
and actuarially sound for the program of insurance concerned. The 
Secretary may make such an adjustment without regard to the provisions 
of sections 1902, 1923, and 1925 of this title with respect to interest 
rates and the use of mortality tables.
    (b) The Secretary shall determine the amount in the trust funds in 
the Treasury held for payment of proceeds to National Service Life 
Insurance, Veterans Special Life Insurance, and Veterans Reopened 
Insurance beneficiaries attributable to interest and mortality gains on 
the reserves held for annuity accounts. Such amount shall be available 
for distribution to the life annuitants referred to in subsection (a) of 
this section as a fixed percentage of, and in addition to, the monthly 
installment amount to which the annuitants are entitled under this 
subchapter. For the purposes of this section, gains on the reserves are 
defined as funds attributable solely to annuity accounts that are in 
excess of actuarial liabilities.
    (c) The monthly amount of an annuity authorized in sections 1902, 
1923, and 1925 of this title, as adjusted under this section, may not be 
less than the monthly amount of such annuity that would otherwise be 
applicable without regard to this section.

(Added Pub. L. 100-322, title III, Sec. 331(a)(1), May 20, 1988, 102 
Stat. 536, Sec. 727; renumbered Sec. 1927 and amended Pub. L. 102-83, 
Secs. 4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404-406.)


                               Amendments

    1991--Pub. L. 102-83, Sec. 5(a), renumbered section 727 of this 
title as this section.
    Subsec. (a). Pub. L. 102-83, Sec. 5(c)(1), substituted ``1902, 1923, 
and 1925'' for ``702, 723, and 725''.
    Pub. L. 102-83, Sec. 4(b)(1), (2)(E), substituted ``Secretary'' for 
``Administrator'' wherever appearing.
    Subsec. (b). Pub. L. 102-83, Sec. 4(b)(1), (2)(E), substituted 
``Secretary'' for ``Administrator''.
    Subsec. (c). Pub. L. 102-83, Sec. 5(c)(1), substituted ``1902, 1923, 
and 1925'' for ``702, 723, and 725''.
