§ 25303 Actuarial Report For Retirement

• •Before creating a retirement plan, the board must get a report from an expert who studies money and risks (an actuary).
• •The report must show how much the retirement benefits will cost.
• •The report must also show what the plan will own (assets) and owe (liabilities) in the future.

A city wants to start a new retirement plan for its workers.

The city must first hire an expert to write a report. This report will explain how much the retirement benefits will cost the city and what the plan’s money situation will look like over time.