JUDICIAL RETIREMENT AND SURVIVORS ANNUITY FUND.

SEC. 11251. JUDICIAL RETIREMENT AND SURVIVORS ANNUITY FUND. (a) Establishment of Fund.—Section 11–1570, District of Columbia Code, is amended to read as follows: “§ 11–1570. The District of Columbia Judicial Retirement and Survivors Annuity Fund. “(a) There is established in the Treasury a fund known as the District of Columbia Judicial Retirement and Survivors Annuity Fund (hereafter in this section referred to as the ‘Fund’), which shall consist of the following assets: “(1) Amounts deposited by, or deducted and withheld from the salary and retired pay of, a judge under section 1563 or 1567 of this title, which shall be credited to an individual account of the judge. “(2) Amounts transferred from the District of Columbia Judges’ Retirement Fund under section 124(c)(1) of the District 111 STAT. 757of Columbia Retirement Reform Act, as amended by section 11252 of the Balanced Budget Act of 1997. “(3) Amounts deposited under subsection (d). “(4) Any return on investment of the assets of the Fund. “(b)(1) The Secretary of the Treasury (hereafter in this section referred to as the ‘Secretary’) shall be responsible for the administration of the Fund. The Secretary may carry out such responsibilities through an agreement with a Trustee or contractor (who may be the Trustee or contractor appointed to carry out responsibilities relating to Federal benefit payments under title I of the National Capital Revitalization and Self-Government Improvement Act of 1997) and an enrolled actuary (as defined in section 7701(a)(35) of the Internal Revenue Code of 1986) who is a member of the American Academy of Actuaries (who may be the enrolled actuary engaged under such Act). “(2) The chief judges of the District of Columbia Court of Appeals and Superior Court of the District of Columbia shall submit to the President and the Secretary an annual estimate of the expenditures and appropriations necessary for the maintenance and operation of the Fund, and such supplemental and deficiency estimates as may be required from time to time for the same purposes, according to law. “(3) The Secretary may cause periodic examinations of the Fund to be made by an enrolled actuary (as defined in section 7701(a)(35) of the Internal Revenue Code of 1986) who is a member of the American Academy of Actuaries. “(c)(1) Amounts in the Fund are available for the payment of judges’ retirement pay, annuities, refunds, and allowances under this subchapter. “(2) Notwithstanding any other provision of District law or any other law, rule, or regulation, the Secretary may review benefit determinations under this subchapter made prior to the date of the enactment of the National Capital Revitalization and Self-Government Improvement Act of 1997, and shall make initial benefit determinations after such date. “(d)(1) Subject to the availability of appropriations, there shall be deposited in the Fund, not later than the close of each fiscal year (beginning with the first fiscal year which ends more than 6 months after the replacement plan adoption date described in section 103(13) of the National Capital Revitalization and Self-Government Improvement Act of 1997), an amount equal to the sum of— “(A) the normal cost for the year; “(B) the annual amortization amount for the year (which may not be less than zero); and “(C) the covered administrative expenses for the year. “(2) For purposes of this subsection: “(A) The ‘original unfunded liability’ is the amount that is the present value as of June 30, 1997, of future benefits payable from the Fund (net the sum of future normal cost and plan assets as of such date). “(B) The ‘annual amortization amount’ is the amount determined by the enrolled actuary to be necessary to amortize in equal annual installments (until fully amortized)— “(i) the original unfunded liability over a 30-year period;111 STAT. 758 “(ii) a net experience gain or loss over a 10-year period; and “(iii) any other changes in actuarial liability over a 20-year period. “(C) The ‘covered administrative expenses’ are the expenses determined by the Secretary (on an annual basis) to be necessary to administer the Fund. “(3) Deposits made under this subsection shall be taken from sums available for that fiscal year for the payment of the expenses of the Court, and shall not be credited to the account of any individual. “(e) The Secretary shall invest such portion of the Fund as is not in the judgment of the Secretary required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable to the needs of the Fund, as determined by the Secretary, and bearing interest at rates determined by the Secretary, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. “(f) None of the moneys mentioned in this subchapter shall be assignable, either in law or in equity, or be subject to execution, levy, attachment, garnishment, or other legal process (except to the extent permitted pursuant to the District of Columbia Spouse Equity Act of 1988). “(g) Notwithstanding any other provision of District law, rule, or regulation, any civil action brought— “(1) by an individual to enforce or clarify rights to benefits from the Fund; or “(2) by the Secretary— “(A) to enforce any claim arising (in whole or in part) under this section or any contract entered into to carry out this section, “(B) to recover benefits improperly paid from the Fund or to clarify an individual’s rights to benefits from the Fund, or “(C) to enforce any provision of this section or any contract entered into to carry out this section, shall be brought in the United States District Court for the District of Columbia.”. (b) Clerical Amendment.—The table of sections for subchapter III of chapter 15 of title 11, District of Columbia Code, is amended by amending the item relating to section 11–1570 to read as follows: “11–1570. The District of Columbia Judicial Retirement and Survivors Annuity Fund.”.