3160

LAWS OF MARYLAND

Ch. 506

(ii) Perform any other duties as required in
connection with these funds.

(5)  Until the initial investigation of the mortality,
service, and compensation experience of the members of this
pension system, the actuary shall use the mortality and
service tables adopted for use under the retirement system.
The board of trustees shall:

(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 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: