Employees' Retirement System and Elected Officials' Retirement System - Actuarial Assumptions; Benefit Payments - Clarifications and Modifications FOR the purpose of modifying the definitions of "employee", "regular interest" (for valuation purposes), and "actuarial equivalent"; changing the frequency of actuarial experience studies; clarifying the Board of Trustees' authority over System staff hiring and compensation; providing for distribution of accumulated contributions; changing eligibility for death benefits payable to surviving spouses and minor children; amending certain provisions to reflect current administrative practices; correcting, clarifying, and conforming related provisions; providing for a special effective date; and generally relating to the Employees' Retirement System and the Elected Officials' Retirement System.

Committee

Taxation, Finance and Economic Development Committee

Requested by

Employees' and Elected Officials' Retirement Systems

Introduced

March 14, 2016

Passed

June 21, 2016

Enactment no.

16-488