Illinois Compiled Statutes 40 ILCS 5/18-152 – Duties of actuary
Current as of: 2024 | Check for updates
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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
(1) make a general investigation at least once every
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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
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(2) make an annual valuation of the liabilities and
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reserves of the system, an annual determination of the amount of the required State contributions and certify the results thereof to the board.
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/18-152
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14