At least once every two years the board shall cause a competent actuary familiar with
public systems of retirement and death benefits to prepare a report evaluating the
current and prospective assets and liabilities of the system and indicating its current
and prospective financial condition. In preparing the report the actuary shall investigate the mortality, disability, service
and other experience of the members of, and employers participating in the system,
shall state fully the condition of the system, and shall make such recommendations
as the actuary deems advisable to facilitate administering it properly. The board shall publish and distribute a summary of the report to all the public employers
participating in the system. The board may authorize the transfer of any portion of the funds collected under the
provisions of ORS 238.225 to carry out the recommendations of the actuary.
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