Regular interest requirements, and the maintenance of reserves in accordance with
the provisions of this chapter, are guaranteed by the respective participating municipalities,
which guaranty extends only to their proportionate interests in the retirement system
as determined upon the basis of the liabilities for the several benefits on account
of the participating members from each municipality. Adjustment shall be made at least once every five (5) years, as provided in this chapter,
in the applicable contribution rates for the municipalities for any regular interest
or reserve requirements, or for any amounts above statutory requirements, as determined
by actuarial valuation, in accordance with the provisions of this chapter.
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