1999 Minnesota Code
Chapters 352 - 356A Retirement
Chapter 356 Retirement Systems, Generally
Section 356.23 Supplemental valuations; alternative reports and valuations.

356.23 Supplemental valuations; alternative reports and valuations.

Subdivision 1. Supplemental actuarial valuations. Any supplemental actuarial valuations prepared on behalf of any governing or managing board of any pension and retirement fund enumerated in section 356.20, subdivision 2, by an approved actuary, shall be prepared in accordance with the applicable provisions of sections 356.20 to 356.23 and the standards adopted by the legislative commission on pensions and retirement. Any pension and retirement fund which prepares an alternative actuarial valuation under subdivision 2 shall also have a supplemental actuarial valuation prepared.

Subd. 2. Alternative reports and valuations. In addition to the financial reports and actuarial valuations required by sections 356.20 to 356.23, the governing or managing board of any fund concerned may submit alternative reports and valuations for distribution to the legislature, any of its committees, or the legislative commission on pensions and retirement on a different basis or on different assumptions than are specified in sections 356.20 to 356.23. The assumptions and basis of any alternative reports and valuations shall be clearly stated in the document.

HIST: 1965 c 359 s 4; 1971 c 7 s 7; 1975 c 192 s 6; 1984 c 655 art 1 s 59; 1987 c 259 s 58