HARRY HUGHES, Governor

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(I)   ADOPT FOR THIS PENSION SYSTEM THE MORTALITY
AND SERVICE TABLES THAT IT CONSIDERS NECESSARY; AND

(II) CERTIFY THE RATES OF CONTRIBUTION PAYABLE
UNDER THIS SUBTITLE.

(6)   (A) IN 1982 AND AT LEAST ONCE IN EACH 5-YEAR
PERIOD THEREAFTER, THE ACTUARY SHALL MAKE:

(I)   AN ACTUARIAL INVESTIGATION INTO THE
MORTALITY, SERVICE, AND COMPENSATION EXPERIENCE OF THE
MEMBERS AND BENEFICIARIES OF THIS PENSION SYSTEM; AND

(II)  A VALUATION OF THE ASSETS AND
LIABILITIES OF THE FUNDS OF THIS PENSION SYSTEM.

(B) TAKING INTO ACCOUNT THE RESULTS OF THE
INVESTIGATION AND VALUATION OF THE ACTUARY, THE BOARD OF
TRUSTEES SHALL:

(I)   ADOPT FOR THIS PENSION SYSTEM THE
MORTALITY, SERVICE, AND ANY OTHER TABLES THAT IT CONSIDERS
NECESSARY; AND

(II)  CERTIFY THE RATES OF CONTRIBUTION
PAYABLE UNDER THIS SUBTITLE.

(7)   ON THE BASIS OF THE INTEREST RATES AND TABLES
ADOPTED BY THE BOARD OF TRUSTEES, THE ACTUARY SHALL MAKE AN
ANNUAL VALUATION OF THE ASSETS AND LIABILITIES OF THE FUNDS
OF THIS PENSION SYSTEM.

(8)   (1) EACH YEAR, THE BOARD OF TRUSTEES SHALL
PUBLISH A REPORT SHOWING:

(I)   THE FISCAL TRANSACTIONS OF THIS
PENSION SYSTEM FOR THE PRECEDING FISCAL YEAR;

(II)  THE AMOUNT OF THE ACCUMULATED CASH
AND SECURITIES OF THIS SYSTEM; AND

(III) THE LAST BALANCE SHEET THAT SHOWS THE
FINANCIAL CONDITION OF THIS PENSION SYSTEM BY MEANS OF AN
ACTUARIAL VALUATION OF THE ASSETS AND LIABILITIES OF THIS
SYSTEM.

(2)   EACH YEAR, THE BOARD OF TRUSTEES SHALL
PROVIDE EACH MEMBER AND BENEFICIARY A STATEMENT THAT:

(A)   SUMMARIZES THE INFORMATION IN THE
ANNUAL REPORT;

(B)   SHOWS THE MEMBER'S VESTED BENEFITS,
OR THE BENEFITS THE MEMBER WILL BE ENTITLED TO ON VESTING
AND THE DATE ON WHICH THE MEMBER WILL BE VESTED.

(C)   SHOWS THE PRESENT VALUE OF THE
MEMBER'S ANNUITY; AND