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



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