Alabama § 45-37-123.81 Actuarial Methods

Alabama Statutes

§ 45-37-123.81 — Actuarial Methods

Alabama § 45-37-123.81

JurisdictionAlabama

Title 45Local Laws

Ch. 37Jefferson County

Art. 12Employees

Part 4Pension System

Subpart 4Contributions and Valuations

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Bluebook

Ala. Code § 45-37-123.81 (2026).

Text

There shall be an actuarial valuation of the plan at least once every five years. The plan assets are to be valued on the last day of the fiscal year, or on any other date determined by the pension board, using any reasonable method of valuation. In establishing the liabilities under the plan and contributions thereto, an enrolled actuary shall use such methods and assumptions as shall reasonably reflect the cost of the benefits. The actuary shall be a member of the American Academy of Actuaries or the Society of Actuaries, and the board shall require the actuary, taking into account the result of the investigation and analysis, to certify whether or not the rates of benefits established herein or from time to time established by the pension board are actuarially feasible and adequate in v

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There shall be an actuarial valuation of the plan at least once every five years. The plan assets are to be valued on the last day of the fiscal year, or on any other date determined by the pension board, using any reasonable method of valuation. In establishing the liabilities under the plan and contributions thereto, an enrolled actuary shall use such methods and assumptions as shall reasonably reflect the cost of the benefits. The actuary shall be a member of the American Academy of Actuaries or the Society of Actuaries, and the board shall require the actuary, taking into account the result of the investigation and analysis, to certify whether or not the rates of benefits established herein or from time to time established by the pension board are actuarially feasible and adequate in view of the funds available.