---
kind: "section"
citation: "10 U.S.C. § 12529"
title: "10"
title_heading: "Armed Forces"
number: "12529"
heading: "Board of Actuaries"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/10/12529"
units:
  - "Subtitle E — Reserve Components"
  - "Part II — Personnel Generally"
  - "Chapter 1214 — Ready Reserve Mobilization Income Insurance"
---

# §12529. Board of Actuaries

- (a) **Actuarial Responsibility.—** The [Board of Actuaries](/usc/10/12521.md?p=6) shall have the actuarial responsibility for the [insurance program](/usc/10/12521.md?p=1).
- (b) **Valuations and Premium Recommendations.—** The [Board of Actuaries](/usc/10/12521.md?p=6) shall carry out periodic actuarial valuations of the benefits under the [insurance program](/usc/10/12521.md?p=1) and determine a premium [rate](/usc/10/101.md?p=b-9) methodology for the [Secretary](/usc/10/12521.md?p=4) to use in setting premium [rates](/usc/10/101.md?p=b-9) for the [insurance program](/usc/10/12521.md?p=1). The Board shall conduct the first valuation and determine a premium [rate](/usc/10/101.md?p=b-9) methodology not later than six months after the [insurance program](/usc/10/12521.md?p=1) is established.
- (c) **Effects of Changed Benefits.—** If at the time of any actuarial valuation under [subsection (b)](#b) there has been a change in benefits under the [insurance program](/usc/10/12521.md?p=1) that has been made since the last such valuation and such change in benefits increases or decreases the present value of amounts payable from the [Fund](/usc/10/12521.md?p=7), the [Board of Actuaries](/usc/10/12521.md?p=6) shall determine a premium [rate](/usc/10/101.md?p=b-9) methodology, and recommend to the [Secretary](/usc/10/12521.md?p=4) a premium schedule, for the liquidation of any liability (or actuarial gain to the [Fund](/usc/10/12521.md?p=7)) resulting from such change and any previous such changes so that the present value of the sum of the scheduled premium payments (or reduction in payments that would otherwise be made) equals the cumulative increase (or decrease) in the present value of such benefits.
- (d) **Actuarial Gains or Losses.—** If at the time of any such valuation the [Board of Actuaries](/usc/10/12521.md?p=6) determines that there has been an actuarial gain or loss to the [Fund](/usc/10/12521.md?p=7) as a result of changes in actuarial assumptions since the last valuation or as a result of any differences, between actual and expected experience since the last valuation, the Board shall recommend to the [Secretary](/usc/10/12521.md?p=4) a premium [rate](/usc/10/101.md?p=b-9) schedule for the amortization of the cumulative gain or loss to the [Fund](/usc/10/12521.md?p=7) resulting from such changes in assumptions and any previous such changes in assumptions or from the differences in actual and expected experience, respectively, through an increase or decrease in the payments that would otherwise be made to the [Fund](/usc/10/12521.md?p=7).
- (e) **Insufficient Assets.—** If at any time liabilities of the [Fund](/usc/10/12521.md?p=7) exceed assets of the [Fund](/usc/10/12521.md?p=7) as a result of members of the Ready [Reserve](/usc/10/101.md?p=c-6) being ordered to [active duty](/usc/10/101.md?p=d-1) as described in [section 12521(2) of this title](/usc/10/12521.md?p=2), and [funds](/usc/10/12521.md?p=7) are unavailable to [pay](/usc/10/101.md?p=a-15) benefits completely, the [Secretary](/usc/10/12521.md?p=4) shall request the President to submit to Congress a request for a special appropriation to cover the unfunded liability. If appropriations are not made to cover an unfunded liability in any fiscal year, the [Secretary](/usc/10/12521.md?p=4) shall reduce the amount of the benefits paid under the [insurance program](/usc/10/12521.md?p=1) to a total amount that does not exceed the assets of the [Fund](/usc/10/12521.md?p=7) expected to accrue by the end of such fiscal year. Benefits that cannot be paid because of such a reduction shall be deferred and may be paid only after and to the extent that additional [funds](/usc/10/12521.md?p=7) become available.
- (f) **Definition of Present Value.—** The [Board of Actuaries](/usc/10/12521.md?p=6) shall define the term “present value” for purposes of this subsection.

## Source credit

(Added Pub. L. 104–106, div. A, title V, § 512(a)(1), Feb. 10, 1996, 110 Stat. 303.)