1. Short title This Act may be cited as the Coast Guard Retirement Parity Act . 2. Establishment and purpose of Fund; definition Section 1461(a) of title 10, United States Code, is amended by inserting and the Coast Guard after liabilities of the Department of Defense . 3. Payments from the Fund Section 1463(a) of title 10, United States Code, is amended— (1) in paragraph (1) by striking and Marine Corps and inserting Marine Corps, and Coast Guard ; (2) in paragraph (2) by striking (other than retired pay payable by the Secretary of Homeland Security) ; and (3) in paragraph (4) by inserting and the Department of Homeland Security that after Department of Defense . 4. Determination of contributions to the Fund Section 1465 of title 10, United States Code, is amended— (1) in subsection (a)— (A) by striking (a) Not and inserting the following: (a) (1) Not ; and (B) by adding at the end the following: (2) Not later than October 1, 2022, the Board of Actuaries shall determine the amount that is the present value (as of September 30, 2022) of future benefits payable from the Fund that are attributable to service in the Coast Guard performed before October 1, 2022. That amount is the original Coast Guard unfunded liability of the Fund. The Board shall determine the period of time over which the original Coast Guard unfunded liability should be liquidated and shall determine an amortization schedule for the liquidation of such liability over that period. Contributions to the Fund for the liquidation of the original Coast Guard unfunded liability in accordance with such schedule shall be made as provided in section 1466(b) of this title. ; (2) in subsection (b)— (A) in paragraph (1)— (i) in the matter preceding subparagraph (A)— (I) by inserting , in consultation with the Secretary of the department in which the Coast Guard is operating, after Secretary of Defense ; and (II) by inserting and Coast Guard after Department of Defense