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- 29 - 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, ones from recommendations made by representative of pilots and the other from recommendations made by representative of employers. These actuaries, along with a third who shall by designated by the Secretary of the Treasury, shall be known as the Actuarial Advisory Committee with respect to the Air Line Pilots' Retirement Trust Fund. The committee shall examine the actuarial reports and estimates made by the Trust Fund and shall have authority to recommend to the Board such changes in the actuarial methods employed in such actuarial reports and estimates as they may deem necessary. The compensation of the member of the committee of actuaries, exclusive of the member designated by the Secretary, shall be fixed by the Board on a per diem basis. (d) The Board shall include in its annual report a statement of the status and the operations of the Trust Fund. At intervals not longer than three years the Board shall make estimates of the liabilities created by this Act and of the revenues to be derived from the Air Line Pilots' Retirement Contributions Act and of the revenues to be derived from the Air line Pilots' Retirement Contributions Act and shall include such estimates in its annual report. (e) The Secretary of the Treasury is directed to pay from the Trust Fund into the Treasury the amount estimated by him and the Board which will expended during a three-month period by the Board and the Treasury Department for the administration of the Act and the Air Line Pilots' Retirement Contributions Act. Such payments shall be covered into the Treasury as repayments to the Trust Fund for reimbursements of expenses incurred in connection with the administration of this Act and the Air Line Pilots Retirement Contributions Act. Such repayment shall not be available for expenditures but shall be carried to the surplus fund of the Treasury. If it subsequently appears that the estimates in any particular three-month period were too high or too low, appropriate adjustments shall be made by the Secretary of the Treasury in future payments. (f) In addition to the amount authorized to be appropriated in subsection (a) of this section there is hereby authorized to be appropriated to the Trust Fund for each fiscal year an amount sufficient to meet the additional cost of counting in the years of service, months spent by pilots in the active military or naval service of the United states in the period September 1, 1939 through December 31, 1947, inclusive, in accordance with the provisions of sections 1 (e). The additional cost of crediting military service shall be deemed to be the difference between the actuarial value of each retirement or survivor annuity or lump sum payment based in part on military service and the actuarial value of the annuity or lump sum which would be payable to the same individual without regard to military service. In calculating these actuarial values (1) whenever a retirement annuity based in part on military service begins to accrue before age sixty, the retirement annuity without regard to military service shall be valued on the assumption of deferment to age