Establishment of Federal Advisory Committee.
Under the provisions of the Federal Advisory Committee Act of 1972 (5 U.S.C. Appendix, as amended), and the Government in the Sunshine Act of 1976 (5 U.S.C. 552b, as amended), the Department of Defense gives notice that it is establishing the Department of Defense Board of Actuaries (hereafter referred to as the Board).
The Board is a non-discretionary federal advisory committee established under the authority of 10 U.S.C. 183. The Board shall: (1) Review valuations of the Department of Defense Military Retirement Fund in accordance with 10 U.S.C. 1465(c) and submit to the President and Congress, not less than once every four years, a report on the status of the Fund including such recommendations for modifications to the funding or amortization of that Fund as the Board considers appropriate and necessary to maintain that Fund on a sound actuarial basis; (2) review valuations of the Department of Defense Education Benefits Fund in accordance with 10 U.S.C. 2006(e), as amended, and make recommendations to the President and Congress on such modifications to the funding or amortization of that Fund as the Board considers appropriate to maintain that Fund on a sound actuarial basis; and (3) review valuations of such other funds as the Secretary of Defense shall specify for purpose of 10 U.S.C. 183 and make recommendations to the President and Congress on such modifications to the funding or amortization of such funds as the Board considers appropriate to maintain such funds on a sound actuarial basis. The Secretary of Defense shall ensure that the Board has access to such records regarding the Military Retirement Fund and the Department of Defense Education Benefits Fund as the Board shall require to determine the actuarial status of such funds.
The Board shall be composed of not more than three members appointed by the Secretary of Defense from among qualified professional actuaries who are members of the Society of Actuaries. Members appointed by the Secretary of Defense, who are not federal officers or employees, shall serve as Special Government Employees under the authority of 5 U.S.C. 3109.
The members shall serve for a term of 15 years, except that a member of the Board appointed to fill a vacancy occurring before the end of the term for which the predecessor was appointed shall serve only until the end of such term. A member may serve after the end of the term until a successor has taken office. A member of the Board may be removed by the Secretary of Defense for Start Printed Page 10229misconduct or failure to perform functions vested in the Board, and for no other reason.
Each member of the Department of Defense Retirement Board of Actuaries or the Department of Defense Education Benefits Board of Actuaries, as of the date of enactment of section 906 of Public Law 110-181, shall serve as an initial member of the Department of Defense Board of Actuaries from that date until the date otherwise provided for the completion of such individual's term as a member of the Department of Defense Retirement Board of Actuaries or the Department of Defense Education Benefits Board of Actuaries, as the case may be, unless earlier removed by the Secretary of Defense.
A member of the Board who is not an employee of the United States is entitled to receive pay at the daily equivalent of the annual rate of basic pay of the highest rate of basic pay then currently being paid under the General Schedule of subchapter III of chapter 53 of title 5, United States Code, for each day the member is engaged in the performance of the duties of the Board. In addition, each member shall receive compensation for per diem and travel for official Board travel.
Members shall not be reappointed for successive terms. The Chairperson of the Board shall be designated by the Under Secretary of Defense for Personnel and Readiness, on behalf of the Secretary of Defense, for a five-year term.
The Board shall be authorized to establish subcommittees, as necessary and consistent with its mission, and these subcommittees or working groups shall operate under the provisions of the Federal Advisory Committee Act of 1972, the Government in the Sunshine Act of 1976, and other appropriate federal regulations.
Such subcommittees or workgroups shall not work independently of the chartered Board, and shall report all their recommendations and advice to the Board for full deliberation and discussion. Subcommittees or workgroups have no authority to make decisions on behalf of the chartered Board nor can they report directly to the Department of Defense or any federal officers or employees who are not Board members.End Preamble Start Supplemental Information
The Committee shall meet at the call of the Board's Designated Federal Officer, in consultation with the Board's chairperson and the Under Secretary of Defense for Personnel and Readiness. The Designated Federal Officer, pursuant to DoD policy, shall be a full-time or permanent part-time DoD employee, and shall be appointed in accordance with established DoD policies and procedures. The Designated Federal Officer or duly appointed Alternate Designated Federal Officer shall attend all board meetings and subcommittee meetings.
Pursuant to 41 CFR 102-3.105(j) and 102-3.140, the public or interested organizations may submit written statements to the Department of Defense Board of Actuaries' membership about the Board's mission and functions. Written statements may be submitted at any time or in response to the stated agenda of planned meeting of the Department of Defense Board of Actuaries.
All written statements shall be submitted to the Designated Federal Officer for the Department of Defense Board of Actuaries, and this individual will ensure that the written statements are provided to the membership for their consideration. Contact information for the Department of Defense Board of Actuaries' Designated Federal Officer, once appointed, may be obtained from the GSA's FACA Database—https://www.fido.gov/facadatabase/public.asp.
The Designated Federal Officer, pursuant to 41 CFR 102-3.150, will announce planned meetings of the Department of Defense Board of Actuaries. The Designated Federal Officer, at that time, may provide additional guidance on the submission of written statements that are in response to the stated agenda for the planned meeting in question.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Jim Freeman, Deputy Committee Management Officer for the Department of Defense, 703-601-2554, extension 128.Start Signature
Dated: February 19, 2008.
Alternate OSD Federal Register Liaison Officer, Department of Defense.
[FR Doc. E8-3602 Filed 2-25-08; 8:45 am]
BILLING CODE 5001-06-P