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97B.61 Annual valuation of assets.

The department shall cause an annual actuarial valuation to be made of the assets and liabilities of the retirement system and shall prepare an annual statement of the amounts to be contributed by the employer under this chapter, and shall publish annually such valuation of the assets and liabilities and the statement of receipts and disbursements of the retirement system.

After accepting the actuarial methods and assumptions of the valuation, the department shall certify to the governor the contribution rates determined thereby as the rates necessary and sufficient for members and employers to fully fund the benefits and retirement allowances being credited.

Section History: Early form

[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 97B.61]

Section History: Recent form

94 Acts, ch 1183, §50

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