Okla. Stat. tit. 47, § 47-2-308.2
This is the official text of Okla. Stat. tit. 47, § 47-2-308.2, part of Oklahoma’s Stat. tit. 47, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 47,." Browse the sections below, each linked to its official government source.
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Actuarial investigation - Establishment of tables and
Official statutory text
rates - Actuarial valuation of assets and liabilities –
Determination of employer contributions.
A. At least once each five (5) years the actuary shall make an
actuarial investigation of the experience of the System including
the mortality, service and compensation experience of members and
beneficiaries. Based on the results of such investigation the
actuary shall recommend for adoption by the Board such tables and
rates as are required for the operation of the System and for the
preparation of annual actuarial valuations.
B. On the basis of such tables and rates as the Board shall
adopt, the actuary shall prepare an annual actuarial valuation of
the assets and liabilities of the System and certify the rates of
contribution payable by the state under the provisions of law
concerning the System.
C. Subject to the funds available to the System, the employer
contributions to the System shall be determined on the basis of the
most recent actuarial valuation, which amount shall be calculated as
the sum of the normal cost for the fiscal year plus expected
administrative expenses plus the payment required to amortize the
unfunded accrued liability according to the amortization schedule
recommended by the actuary and adopted by the Board.
Determination of employer contributions.
A. At least once each five (5) years the actuary shall make an
actuarial investigation of the experience of the System including
the mortality, service and compensation experience of members and
beneficiaries. Based on the results of such investigation the
actuary shall recommend for adoption by the Board such tables and
rates as are required for the operation of the System and for the
preparation of annual actuarial valuations.
B. On the basis of such tables and rates as the Board shall
adopt, the actuary shall prepare an annual actuarial valuation of
the assets and liabilities of the System and certify the rates of
contribution payable by the state under the provisions of law
concerning the System.
C. Subject to the funds available to the System, the employer
contributions to the System shall be determined on the basis of the
most recent actuarial valuation, which amount shall be calculated as
the sum of the normal cost for the fiscal year plus expected
administrative expenses plus the payment required to amortize the
unfunded accrued liability according to the amortization schedule
recommended by the actuary and adopted by the Board.
Status: in_force · Read it on the official government site
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