WILLIAM DONALD SCHAEFER, Governor                    Ch. 580

(B) THE ACTUARY OF THIS PENSION SYSTEM SHALL COMPUTE THE
CONTRIBUTIONS THAT WOULD BE PAYABLE EACH YEAR ON BEHALF OF
MEMBERS WHO ARE LAW ENFORCEMENT OFFICERS OF A PARTICIPATING
MUNICIPAL CORPORATION. THE AMOUNTS COMPUTED SHALL BE A CHARGE
AGAINST THE PARTICIPATING MUNICIPAL CORPORATION TO BE PAID IN
ACCORDANCE WITH THE PROVISIONS OF THIS SECTION.

(C) EACH YEAR, ON BEHALF OF ITS LAW ENFORCEMENT OFFICERS,
THE PARTICIPATING MUNICIPAL CORPORATION SHALL PAY AN AMOUNT THAT
IS AT LEAST EQUAL TO A PERCENTAGE OF THE AGGREGATE ANNUAL
EARNABLE COMPENSATION OF THE LAW ENFORCEMENT OFFICERS THAT IS
KNOWN AS THE "NORMAL CONTRIBUTION" AND AN ADDITIONAL AMOUNT THAT
IS KNOWN AS THE "ACCRUED LIABILITY CONTRIBUTION".

(D) ON THE BASIS OF INTEREST AND THE MORTALITY AND SERVICE
TABLES THAT ARE ADOPTED BY THE BOARD OF TRUSTEES, IMMEDIATELY
AFTER MAKING EACH ACTUARIAL VALUATION, THE ACTUARY SHALL
DETERMINE THE NORMAL CONTRIBUTIONS ON ACCOUNT OF THE LAW
ENFORCEMENT OFFICERS, NET OF CONTRIBUTIONS BY THE LAW ENFORCEMENT
OFFICERS, ON THE BASIS OF THE ENTRY-AGE ACTUARIAL COST METHOD.
THE RATIO OF THE SUM OF THE NORMAL CONTRIBUTIONS SO DETERMINED TO
THE AGGREGATE ANNUAL EARNABLE COMPENSATION OF THE LAW ENFORCEMENT
OFFICERS IS KNOWN AS THE "NORMAL CONTRIBUTION" RATES. UPON THE
RECOMMENDATION OF THE ACTUARY, THE BOARD OF TRUSTEES MAY ADJUST
THE NORMAL CONTRIBUTION RATES TO PROVIDE FOR EXPERIENCE GAINS AND
LOSSES, THE EFFECT OF CHANGES IN ACTUARIAL ASSUMPTIONS, AND THE
EFFECT OF LEGISLATION ENACTED FROM JULY 1, 1989.

(E) THE ACCRUED LIABILITY CONTRIBUTION RATES SHALL BE
COMPUTED, ON THE BASIS OF THE ENTRY-AGE ACTUARIAL COST METHOD AND
ANY OTHER ASSUMPTIONS ADOPTED BY THE BOARD OF TRUSTEES AS THE
RATE PERCENT OF THE AGGREGATE EARNABLE COMPENSATION OF THE LAW
ENFORCEMENT OFFICERS OF THE PARTICIPATING MUNICIPAL CORPORATIONS
THAT IS SUFFICIENT TO LIQUIDATE OVER A PERIOD OF 40 YEARS FROM
JULY 1, 1989 THE TOTAL LIABILITIES OF THE PARTICIPATING MUNICIPAL
CORPORATIONS ON JULY 1, 1989 THAT ARE NOT DISCHARGED BY THE
ASSETS TO THE CREDIT OF THE PARTICIPATING MUNICIPAL CORPORATIONS
IN THE ACCUMULATION FUND AND THAT ARE NOT DISCHARGED BY THE
PRESENT VALUE OF FUTURE NORMAL CONTRIBUTIONS, FUTURE SPECIAL
ACCRUED LIABILITY CONTRIBUTIONS, FUTURE WITHDRAWAL LIABILITY
CONTRIBUTIONS, AND FUTURE CONTRIBUTIONS BY THE LAW ENFORCEMENT
OFFICERS.

(F) EACH YEAR THE BOARD OF TRUSTEES SHALL CERTIFY TO THE
CHIEF FISCAL OFFICER OF EACH MUNICIPAL CORPORATION THE
CONTRIBUTION RATES FOR ALL MUNICIPAL CORPORATION LAW ENFORCEMENT
OFFICERS, THE NORMAL CONTRIBUTION RATES FOR ALL MUNICIPAL
CORPORATIONS, AND THE ACCRUED LIABILITY CONTRIBUTION RATES FOR
ALL MUNICIPAL CORPORATIONS. THE BOARD OF TRUSTEES, ALSO, SHALL
CERTIFY THE SPECIAL ACCRUED LIABILITY AND THE WITHDRAWAL
LIABILITY CONTRIBUTION RATES DETERMINED IN ACCORDANCE WITH §§ 166
AND 168 OF THIS ARTICLE.

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