HRS §87A-27
Annual check of the fund's money and promises
Starting July 1, 2017, the board's actuary must check the fund's assets and liabilities every year. The check uses tables and factors the board adopts each year. The actuary must also update certain fund-specific assumptions at least once every three years.
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The statute, as written — Actuarial investigation; valuations
Beginning on July 1, 2017, the actuary retained by the board pursuant to section 87A-42 shall make an annual valuation of the assets and liabilities of the fund based on tables and other factors adopted by the board annually. The annual valuation shall include an update of assumptions specific to the fund that are not updated pursuant to section 88-105, as deemed necessary by the actuary, at least once in each three-year period.
Sections this one refers to
§87A-42 Setting up a trust fund for retiree health benefits
§88-105 Actuarial checks and funding reviews
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