§ 1466. Payments into the Fund
(a)
The Secretary of Defense shall pay into the Fund at the end of each month as the Department of Defense contribution to the Fund for that month the amount that is the sum of the following:
(1)
The product of—
(A)
the level percentage of basic pay determined using all the methods and assumptions approved for the most recent (as of the first day of the current fiscal year) actuarial valuation under section
1465
(c)(1)(A) of this title (except that any statutory change in the military retirement and survivor benefit systems that is effective after the date of that valuation and on or before the first day of the current fiscal year shall be used in such determination); and
(B)
the total amount of basic pay accrued for that month for active duty (other than the Coast Guard) and for full-time National Guard duty (other than full-time National Guard duty for training only), but excluding the amount expected to be paid for any duty that would be excluded for active-duty end strength purposes by section
115
(i) of this title.
(2)
The product of—
(A)
the level percentage of basic pay and of compensation (paid pursuant to section
206 of title
37) determined using all the methods and assumptions approved for the most recent (as of the first day of the current fiscal year) actuarial valuation under section
1465
(c)(1)(B) of this title (except that any statutory change in the military retirement and survivor benefit systems that is effective after the date of that valuation and on or before the first day of the current fiscal year shall be used in such determination); and
(B)
the total amount of basic pay and of compensation (paid pursuant to section
206 of title
37) accrued for that month by members of the Selected Reserve of the armed forces (other than the Coast Guard) for service not otherwise described in paragraph (1)(B).
Amounts paid into the Fund under this subsection shall be paid from funds available for the pay of members of the armed forces under the jurisdiction of the Secretary of a military department.
(b)
(1)
At the beginning of each fiscal year the Secretary of the Treasury shall promptly pay into the Fund from the General Fund of the Treasury the amount certified to the Secretary by the Secretary of Defense under paragraph (3). Such payment shall be the contribution to the Fund for that fiscal year required by sections
1465
(a),
1465
(b)(3),
1465
(c)(2), and
1465
(c)(3) of this title.
(2)
At the beginning of each fiscal year the Secretary of Defense shall determine the sum of the following:
(A)
The amount of the payment for that year under the amortization schedule determined by the Board of Actuaries under section
1465
(a) of this title for the amortization of the original unfunded liability of the Fund.
(B)
The amount (including any negative amount) for that year under the most recent amortization schedule determined by the Secretary of Defense under section
1465
(c)(2) of this title for the amortization of any cumulative unfunded liability (or any gain) to the Fund resulting from changes in benefits.
(c)
(1)
The Secretary of Defense shall pay into the Fund at the beginning of each fiscal year such amount as may be necessary to pay the cost to the Fund for that fiscal year resulting from the repeal, as of October 1, 1999, of section
5532 of title
5, including any actuarial loss to the Fund resulting from increased benefits paid from the Fund that are not fully covered by the payments made to the Fund for that fiscal year under subsections (a) and (b).