ANNUAL VALUATIONS AND REPORTS BY ENROLLED ACTUARY.

SEC. 11061. ANNUAL VALUATIONS AND REPORTS BY ENROLLED ACTUARY. (a) Determination of Actuarial Valuations.—The Trustee shall engage 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 to shall perform an annual actuarial valuation (in a manner and form determined by the Secretary) of the Trust Fund and the Federal Supplemental Fund for obligations assumed by the Federal Government under this subtitle. (b) Annual Report on Status of Funds.—The enrolled actuary shall prepare and submit to the Secretary and the Trustee an annual report on the actuarial status of the Trust Fund and the Federal Supplemental Fund, and shall include in the report— (1) a projection of when assets in the Trust Fund will be insufficient to pay benefits and necessary administrative expenses when due; and (2) a determination of the annual payment to the Federal Supplemental Fund under section 11053.