N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 136-2.6

Current through Register Vol. 46, No. 43, October 23, 2024

Section 136-2.6 - Financial soundness and actuarial principles

(a) Consistent with his or her obligations as a fiduciary, the Comptroller shall establish an actuarial committee comprised exclusively of unaffiliated persons that have expertise and experience in actuarial science.

(b) The Comptroller shall:

(1) develop an actuarial committee charter for the committee;

(2) establish written standards for the selection of actuarial committee members;

(3) authorize the actuarial committee to make recommendations to the retirement system actuary regarding actuarial assumptions and methodologies; and

(4) authorize the actuarial committee to review and report to the Comptroller on the financial soundness of the retirement system.

N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 136-2.6