Department of Administrative Services - Disability Leave Benefits - Actuarial evaluation of the fund.


Published: 2012-08-26

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Every year, the director shall have prepared, by an accredited actuary familiar with disability insurance, a report showing a complete actuarial evaluation of the fund and the adequacy of the rates of contribution and reserves. The report shall contain such recommendations as the actuary considers advisable. The director may at any time request the actuary to conduct studies or evaluations to determine the adequacy of the rates of contribution. Such rates may be adjusted by the director, as recommended by the actuary, to be effective as of the first of any fiscal year thereafter.