Employees’ Life Insurance Fund

§ 8714. Employees’ Life Insurance Fund (a) The amounts withheld from employees under section 8707 of this title and the sums contributed from appropriations and funds 80 Stat. 599under section 8708 of this title shall be deposited in the Treasury of the United States to the credit of the Employees’ Life Insurance Fund. The Fund is available without fiscal year limitation for— (1) premium payments under an insurance policy purchased under this chapter; and (2) expenses incurred by the Civil Service Commission in the administration of this chapter within the limitations that may be specified annually by appropriation acts. (b) The Secretary of the Treasury may invest and reinvest any of the money in the Fund in interest-bearing obligations of the United States, and may sell these obligations for the purposes of the Fund. The interest on and the proceeds from the safe of these obligations, and the income derived from dividend or premium rate adjustments from insurers, become a part of the Fund.