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   (b) At the request and direction of the Board, it shall be the duty of the Secretary of the Treasury to invest such portion of the amounts credited to the Trust Fund as, in the judgment of the Board, is not immediately required for the payment of annuities and death benefits in accordance with the provisions of this Act in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose such obligations may be acquired on original issue at par or by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under the Second Liberty Bond Act, as amended, are hereby extended to authorize the issuance at par of special obligations exclusively to the Trust Fund. Such special obligations shall bear interest at the rate of three per centum per annum. Obligations other than such special obligations may be acquired for the Trust Fund only on such terms as to provide an investment yield of not less than three per centum per annum. It shall be the duty of the Secretary of the Treasury to sell and dispose of obligations in the Trust Find if it shall be in the interest of the Trust Fund so to do. Any obligations acquired by the Trust Fund, except special obligations issued exclusively to the Trust Fund, may be sold at the market price. Special obligations issued exclusively to the Trust Fund shall, at the request of the Board, be redeemed at par plus accrued interest. All amounts credited to the Trust Fund shall be available for the payment of all annuities and lump sums in accordance with the provisions of this Act. 
   (c) The Board is hereby authorized and directed to select two actuaries, one from recommendations made by representatives of pilots and the other from recommendations made by representatives of employers.