19-17-107. Employment of actuary -- annual investigation. (1) The board shall retain a competent actuary who is an enrolled member of the American academy of actuaries and who is familiar with public pension systems. The actuary is the technical adviser to the board on matters regarding the actuarial funding of the pension trust fund.
(2) The board shall require the actuary to make an annual actuarial valuation of the assets and liabilities of the pension trust fund. The actuarial valuation must include the sufficiency of the fund to pay full and partial benefits to members and benefit recipients and must include recommendations for any changes that should be made to those benefits or the contributions to the pension trust fund to ensure the actuarial soundness of the pension trust fund.
(3) The board shall require the actuary to conduct periodic actuarial experience studies of the pension trust fund and to recommend any changes in actuarial assumptions or tables based upon the studies.
History: En. Sec. 2, Ch. 175, L. 1995; amd. Sec. 33, Ch. 283, L. 2009.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 17. Volunteer Firefighters' Compensation Act
19-17-103. Renumbered 19-17-205
19-17-105. Duties of volunteer firefighters
19-17-106. Pension trust fund established -- restrictions on use
19-17-107. Employment of actuary -- annual investigation
19-17-108. Credit for service as volunteer firefighter -- records
19-17-109. Eligible fire company
19-17-110. Allowable payments to volunteer firefighters
19-17-111. Records information management