Investment of Insurance Funds: Hearing, Eighty-sixth Congress, Second Session, February 2, 1960U.S. Government Printing Office, 1960 - 30 pages Considers H.R. 9378, to transfer power of investment of National Service Life Insurance funds from Treasury Department to VA and to allow VA to invest such funds into public debt securities bearing higher interest rates than present investments. |
From inside the book
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Page 780
... maturities requested by the Administrator . ( 4 ) Require such interest - bearing obligations of the United States to bear annual interest from the date of acquisition at the higher of the following rates : ( A ) 3 percent on NSLI and ...
... maturities requested by the Administrator . ( 4 ) Require such interest - bearing obligations of the United States to bear annual interest from the date of acquisition at the higher of the following rates : ( A ) 3 percent on NSLI and ...
Page 783
... maturities of 3 or more years ) for the social security trust funds was recommended to the Congress by the Depart- ments of the Treasury and Health , Education , and Welfare last August . Last November a similar proposal for the civil ...
... maturities of 3 or more years ) for the social security trust funds was recommended to the Congress by the Depart- ments of the Treasury and Health , Education , and Welfare last August . Last November a similar proposal for the civil ...
Page 784
... maturities distributed over a period from 1 to 15 years . The Senate report on the Independent Offices Appropriation Act for 1959 requested the Civil Service Commission and the Budget Bureau to submit recommendations to the Legislative ...
... maturities distributed over a period from 1 to 15 years . The Senate report on the Independent Offices Appropriation Act for 1959 requested the Civil Service Commission and the Budget Bureau to submit recommendations to the Legislative ...
Page 785
... maturities beyond 5 years . If the formula were now in effect , the interest rate on current special issue invest- ments would be 4 % percent . In view of the historic basis used for establishing rates of interest of 31⁄2 and 3 percent ...
... maturities beyond 5 years . If the formula were now in effect , the interest rate on current special issue invest- ments would be 4 % percent . In view of the historic basis used for establishing rates of interest of 31⁄2 and 3 percent ...
Page 786
... maturities of the funds from 1 to 15 years . The new securities will carry rates of interest based upon the new formula , subject to a maximum of 4 percent for issues with maturities beyond 5 years , so long as the present interest rate ...
... maturities of the funds from 1 to 15 years . The new securities will carry rates of interest based upon the new formula , subject to a maximum of 4 percent for issues with maturities beyond 5 years , so long as the present interest rate ...
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Common terms and phrases
3½ percent actuarial ADAIR amend sections 720 American Legion average market yield BAIRD based upon current bear interest bill bonds Budget Bureau calendar month CHAIRMAN civil service retirement Committee on Investment Committee on Veterans Congress current market yields disability insurance trust due or callable effect Federal old-age fiscal fixing interest rates formula for fixing Government life insurance Heffelfinger insurance companies insurance fund insurance trust fund interest earnings interest-bearing obligations Investment Policy January 14 June 30 legislation market rates million MITCHELL national service NSLI fund old-age and survivors OLIN E proposed public debt obligations rates not less rates of interest rates on special recommended ROBERT N. C. NIX ROSS ADAIR Secretary Security Financing service life insurance service retirement fund special issues maturing special obligations issued special public debt statutory survivors insurance trust TEAGUE title 38 Treasury formula Treasury obligations issued U.S. Government United States Code USGLI fund W. J. BRYAN DORN
Popular passages
Page 789 - ... and for such purpose the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities...
Page 792 - Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue, borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt; except that where such average rate is not a multiple of oneeighth of 1 per centum...
Page 779 - Administrator. (b) The Administrator is authorized to set aside out of such fund such reserve amounts as may be required under accepted actuarial principles, to meet all liabilities under such insurance ; and the Secretary of the Treasury is hereby authorized to invest and reinvest...
Page 785 - Account from the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund...
Page 791 - That the United States shall bear the expenses of administration and the excess mortality and disability cost resulting from the hazards of war. The premium rates shall be the net rates based upon the American Experience Table of Mortality and interest at three and one-half per centum per annum.
Page 796 - Act now provides that special obligations issued to the railroad retirement accounts "shall bear interest at a rate equal to the average market yield, computed as of the end of the calendar month next preceding the date of such issue, borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt that are not due or callable until after the expiration of 3 years from the end of such calendar month * * *" The bill would change the words "average" and...
Page 804 - Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.
Page 790 - The bureau is authorized to set aside out of the fund so collected such reserve funds as may be required, under accepted actuarial principles, to meet all liabilities under such insurance; and the Secretary of the Treasury is hereby authorized to invest and reinvest the said United States Government life insurance...
Page 789 - Be it enacted by the Senate and House of Representatives of the Vnited States of America in Congress assembled, That...
Page 804 - Treasury is hereby authorized to invest and reinvest such fund, or any part thereof, in interest-bearing obligations of the United States or in obligations guaranteed as to principal and interest by the United States, and to sell such obligations for the purposes of such fund.