§88-105  Actuarial investigations,valuations.  (a)  At least once in each five-year period, commencing withfiscal year 1994-1995, the actuary shall make an actuarial investigation of theexperience of the system and shall recommend to the board of trustees theadoption for actuarial valuation of the system of mortality, service, and othertables as shall be deemed appropriate and necessary, and the actuary shallrecommend to the legislature for its adoption the investment yield rate.  Theactuary shall further recommend the acceptable funded ratio for the system,taking into consideration the guaranties of article XVI, section 2 of the stateconstitution, section 88-107, and section 88-127.

(b)  Commencing with fiscal year 2009-2010, theactuary shall recommend, based on the actuarial investigation, the appropriateadjustments to the contribution rates under section 88-122(e).

(c)  On the basis of such tables and otherfactors as the board or legislature, as the case may be, shall adopt, andcommencing with fiscal year 2005-2006 and the contribution rates of section88-122(e), the actuary shall make an annual valuation of the assets andliabilities of the funds of the system. [L 1925, c 55, §5(14), (15), (16); amimp L 1927, c 251; RL 1935, pt of §7924; RL 1945, pt of §707; RL 1955, §6-71;am L 1964, c 62, §9; HRS §88-95; am L 1969, c 110, pt of §1; am L 1994, c 276,§5; am L 2004, c 181, §1; am L 2007, c 256, §2]

 

Attorney General Opinions

 

  Change to "unisex" option factor tables valid. Att. Gen. Op. 82-3.