38-U.S.C.-1927
§1927 – Authority For Higher Monthly Installments Payable to Certain Annuitants
Pathway
Title 38 > Part II > Chapter 19 > Subchapter I > Section 1927
Details
- Reference: Section 1927
- Legend: §1927 – Authority For Higher Monthly Installments Payable to Certain Annuitants
- USCode Year: 2013
Provision Content
(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, §331(a)(1), May 20, 1988, 102 Stat. 536, §727; renumbered §1927 and amended Pub. L. 102–83, §§4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404–406.)
Amendments
1991—Pub. L. 102–83, §5(a), renumbered section 727 of this title as this section.
Subsec. (a). Pub. L. 102–83, §5(c)(1), substituted 1902, 1923, and 1925 for 702, 723, and 725.
Pub. L. 102–83, §4(b)(1), (2)(E), substituted Secretary for Administrator wherever appearing.
Subsec. (b). Pub. L. 102–83, §4(b)(1), (2)(E), substituted Secretary for Administrator.
Subsec. (c). Pub. L. 102–83, §5(c)(1), substituted 1902, 1923, and 1925 for 702, 723, and 725.
U.S. Encyclopedia of Law Coverage
38-U.S.C.-1919 in the Legal Encyclopedia: Veterans
In this entry about 38-U.S.C.-1919, find legal reference material, bibliographies and premiere content related to veterans in the American Encyclopedia of Law, presenting a comprehensive view of the United States veterans-specific issues, written by authorities in the field.
38-U.S.C.-1927 in the Legal Encyclopedia: Life Insurance
In this entry about 38-U.S.C.-1927, find legal reference material, bibliographies and premiere content related to life insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States life insurance-specific issues, written by authorities in the field.
38-U.S.C.-1916 in the Legal Encyclopedia: Insurance
In this entry about 38-U.S.C.-1916, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.
38-U.S.C.-1927 in the Legal Encyclopedia: Benefits
In this entry about 38-U.S.C.-1927, find legal reference material, bibliographies and premiere content related to benefits in the American Encyclopedia of Law, presenting a comprehensive view of the United States benefits-specific issues, written by authorities in the field.
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