HARRY HUGHES, Governor

137

SERVICE TABLES ADOPTED FOR USE UNDER THE RETIREMENT SYSTEM.
THE BOARD OF TRUSTEES SHALL:

(1)   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 1983 AND AT LEAST ONCE IN EACH 5-YEAR
PERIOD AFTER, 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 RESULT OF THE
INVESTIGATION AND VALUATION, THE BOARD OF TRUSTEES SHALL:

(I)   ADOPT FOR THIS PENSION SYSTEM THE
MORTALITY, SERVICE, AND 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
THAT THE BOARD OF TRUSTEES ADOPTS, 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 THAT SHOWS:

(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 SHOWING 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 WITH A STATEMENT THAT:

(A)   SUMMARIZES THE INFORMATION IN THE
ANNUAL REPORT;

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