1. The court administrator shall cause an actuarial valuation to be made of the assets and liabilities of the judicial retirement fund at least once every four years commencing with the fiscal year beginning July 1, 1981. For each fiscal year in which an actuarial valuation is not conducted, the court administrator shall cause an annual actuarial update to be prepared for the purpose of determining the adequacy of the contribution rates specified in section 602.9104, subsection 4. The court administrator shall adopt mortality tables and other necessary factors for use in the actuarial calculations required for the valuation upon the recommendation of the actuary. Following the actuarial valuation or annual actuarial update, the court administrator shall determine the condition of the system and shall report its findings and recommendations to the general assembly.
2. The cost of the actuarial valuation or annual actuarial update shall be paid from the judicial retirement fund.
[C81, § 605A.18]
83 Acts, ch 186, § 10202(2)
CS83, § 602.9116
94 Acts, ch 1183, §85
Referred to in § 602.9104
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