§88-90.5  Actuarial assumptions.  (a) Notwithstanding any provision in this chapter to the contrary, the board mayapprove the effect of the post retirement allowance under section 88-90, or ofany other mandatory fixed scheduled increase in the benefits payable under partII, VII, or VIII, as an actuarial assumption for the purpose of determining thevalue of the options available under sections 88-83, 88-283, and 88-333.

(b)  Subject to the recommendation of theactuary appointed under section 88-29, the board may adopt, by motion at anyduly noticed meeting of the board, actuarial tables, factors, and assumptionsfor the purposes of parts II, VII, and VIII.  The tables, factors, andassumptions that are used to compute benefits shall be in writing and certifiedby the administrator. [L 2005, c 56, §2; am L 2007, c 215, §15]