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Title 38 — Veterans' BenefitsRelease 119-73

§1927 Authority for higher monthly installments payable to certain annuitants

Title 38 › Part PART II— - GENERAL BENEFITS › Chapter CHAPTER 19— - INSURANCE › Subchapter SUBCHAPTER I— - NATIONAL SERVICE LIFE INSURANCE › § 1927

Last updated Apr 6, 2026|Official source

Summary

The Secretary may change the monthly dollar payments for people who get life annuities from three kinds of veterans' life insurance (National Service Life Insurance, Veterans Special Life Insurance, and Veterans Reopened Insurance). The change can only happen if it is administratively and actuarially sound for that insurance program. The Secretary may ignore some rules about interest rates and mortality tables when making the change. The Secretary must figure out how much money in the trust funds comes from interest and mortality gains on annuity reserves. A fixed percentage of those gains can be added to annuitants’ monthly payments as extra money. Any adjusted monthly payment cannot be lower than the payment that would apply without these extra distributions.

Full Legal Text

Title 38, §1927

Veterans' Benefits — Source: USLM XML via OLRC

(a)Subject to subsections (b) and (c) of this section, the Secretary may from time to time adjust the dollar amount of the monthly installments payable to a beneficiary of National Service Life Insurance, Veterans Special Life Insurance, or Veterans Reopened Insurance who is receiving the proceeds of such insurance under a life annuity settlement option. The Secretary may make such an adjustment only if the Secretary determines that the adjustment is administratively and actuarially sound for the program of insurance concerned. The Secretary may make such an adjustment without regard to the provisions of section 1902, 1923, and 1925 of this title with respect to interest rates and the use of mortality tables.
(b)The Secretary shall determine the amount in the trust funds in the Treasury held for payment of proceeds to National Service Life Insurance, Veterans Special Life Insurance, and Veterans Reopened Insurance beneficiaries attributable to interest and mortality gains on the reserves held for annuity accounts. Such amount shall be available for distribution to the life annuitants referred to in subsection (a) of this section as a fixed percentage of, and in addition to, the monthly installment amount to which the annuitants are entitled under this subchapter. For the purposes of this section, gains on the reserves are defined as funds attributable solely to annuity accounts that are in excess of actuarial liabilities.
(c)The monthly amount of an annuity authorized in section 1902, 1923, and 1925 of this title, as adjusted under this section, may not be less than the monthly amount of such annuity that would otherwise be applicable without regard to this section.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1991—Pub. L. 102–83, § 5(a), renumbered section 727 of this title as this section. Subsec. (a). Pub. L. 102–83, § 5(c)(1), substituted “1902, 1923, and 1925” for “702, 723, and 725”. Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing. Subsec. (b). Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”. Subsec. (c). Pub. L. 102–83, § 5(c)(1), substituted “1902, 1923, and 1925” for “702, 723, and 725”.

Reference

Citations & Metadata

Citation

38 U.S.C. § 1927

Title 38 — Veterans' Benefits

Last Updated

Apr 6, 2026

Release point: 119-73