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§47-2-308.2.
§47-2-308.2.
(2) On the basis of such tables and rates as the Board shall adopt,
the actuary shall prepare an annual actuarial valuation of the assets
and liabilities of the System and certify the rates of contribution
payable by the state under the provisions of law concerning the
System.
(3) Subject to the funds available to the System, the employer
contributions to the System shall be determined on the basis of the
most recent actuarial valuation, which amount shall be calculated as
the sum of the normal cost for the fiscal year plus the payment
required to amortize the unfunded accrued liability by level dollar
payments over forty (40) years from July 1, 1980.
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