2001 Minnesota Statutes

     356.217 Modifications in actuarial services. 

    (a) The cost of any requested benefit projections by the 
 commission-retained actuary relating to the Minnesota 
 postretirement investment fund for the state board of investment 
 is payable by the state board of investment. 

    (b) Actuarial valuations under section 356.215, for July 1, 
 1991, and thereafter, are not required to have an individual 
 commentary section.  The commentary section, if omitted from the 
 individual plan actuarial valuation, must be included in an 
 appropriate generalized format as part of the report to the 
 legislature under section 3.85, subdivision 11. 

    (c) Actuarial valuations under section 356.215, for July 1, 
 1991, and thereafter, are not required to contain separate 
 actuarial valuation results for basic and coordinated programs 
 unless each program has a membership of at least ten percent of 
 the total membership of the fund.  Actuarial valuations under 
 section 356.215, for July 1, 1991, and thereafter, are not 
 required to contain cash flow forecasts. 

    (d) Actuarial valuations of the public employees police and 
 fire fund local consolidation accounts for July 1, 1991, and 
 thereafter, are not required to contain separate tabulations or 
 summaries of active member, service retirement, disability 
 retirement, and survivor data for each local consolidation 
 account. 

    (e) The commission-retained actuary is: 

    (1) required to publish experience findings for plans for 
 which experience findings are required only on a quadrennial 
 basis for the four-year period ending June 30, 1992, and every 
 four years thereafter; 

    (2) not required to prepare a separate experience analysis 
 or publish separate experience findings for basic and 
 coordinated programs if separate actuarial valuation results for 
 the programs are not required; and 

    (3) not required to calculate investment rate of return 
 experience results on any basis other than current asset value 
 as defined in section 356.215, subdivision 1, clause (6). 

    HIST: 1991 c 269 art 3 s 20; 1997 c 233 art 1 s 60