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Illinois Statutes Chapter 40. Pensions § 5/18-152. Duties of actuary

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§ 18-152. Duties of actuary. The actuary shall be the technical advisor of the Board and, in addition to supplying general information on technical matters, shall:

(1) make a general investigation at least once every 3 years of the mortality, retirement, disability, separation, interest and employee earnings rates and recommend, as a result thereof, the tables to be adopted for all required actuarial calculations; and

(2) make an annual valuation of the liabilities and reserves of the system, an annual determination of the amount of the required State contributions and certify the results thereof to the board.

This chapter applies to:

(1) an original public security;

(2) a refunding public security;

(3) an exchanged or converted public security;  or

(4) any combination of those securities.

Cite this article: - Illinois Statutes Chapter 40. Pensions § 5/18-152. Duties of actuary - last updated January 01, 2019 |

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