§ 13-8-18. Experience investigations.

(a)

Generally. The secretary of the board shall keep, or cause to be kept, in convenient form, such data as shall be necessary for an actuarial valuation of the funds of the plan, and for checking and compiling the experience of the plan. At least once in each three (3) year period, the board shall cause an actuarial investigation to be made into the mortality, and other experience of the members and beneficiaries. On the basis of such actuarial investigation the board shall carry out the provisions of paragraphs (b), (c) and (d) of this section.

(b)

Adopt experience tables. The board shall adopt such mortality and other tables of experience as shall be necessary.

(c)

Certify rates of contributions by members. The board shall certify the rates of contributions payable by members under the provisions of this article.

(d)

Certify rates of contributions by city. The board shall certify the rates of contributions payable by the city and its subdivisions.

(Charter 1918, T-IX, C-VIII, § 7)