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2026-07-06 09:52:37 -04:00

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LegalText 10 U.S.C. § 12528 Reserve Mobilization Income Insurance Fund us united_states_code code_section 10 ARMED FORCES 1214 READY RESERVE MOBILIZATION INCOME INSURANCE 12528 10 U.S.C. § 12528 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc10@119-100.zip /us/usc/t10/s12528 data/legal/raw/us/code/title-10/usc10.xml ded60475914e996bb4a237a811ec047bb37d776ee9d4968b6031fb484fd90249 06a2679d38355c44f4219c983fdad34009233205d6ba271593a4c1b17a739ec1 6d3eca8ff2780105c61ae705edcd3456b520ae8006e16adc3656e24590a47b81 2026-07-04 official
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10 U.S.C. § 12528 - Reserve Mobilization Income Insurance Fund

Text

(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. 104106, div. A, title V, § 512(a)(1), Feb. 10, 1996, 110 Stat. 302.)