§ 9. Actuarial Investigations  

Latest version.
  • At least once in each five-year period, the board shall cause an actuarial investigation to be made into the mortality, service and compensation experience of the members and beneficiaries of the retirement system, and shall make a valuation of its assets and liabilities. Taking into account the results of such investigation and valuation, the board shall:

    (a) Adopt such mortality service and other tables as it shall consider necessary;

    (b) Certify the rates of contributions payable by members in accordance with ordinance provisions;

    (c) Certify the rates of contribution payable by the city on account of new entrants at various ages.

    On the basis of its tables, the board shall cause an actuarial valuation to be made of the assets and liabilities of the retirement system.

(Amended by Ord. No. 546-1983, eff. Dec. 23, 1983)