Section 2
SEC. 2. The Government Service Insurance Board constituted under the provisions of the Government Insurance Act is hereby authorized and directed to effect forthwith the liquidation of the Teachers' Retirement and Disability Fund so as to determine the actual net worth thereof on November first, nineteen hundred and thirty-six, taking into account only all current liabilities up to said date. From and after November first, nineteen hundred and thirty-six, the pensions payable from the said Fund shall continue in the same amounts as at present, only until December thirty-first, nineteen hundred and thirty-six, and thereafter they shall be for the reduced amount as may be fixed under the provisions of this Act.