(relating to supplemental annuities commencing 1998), 8348.6
(relating to supplemental annuities commencing 2002) and
8348.7 (relating to supplemental annuities commencing 2003),
in excess of the total assets in the fund (calculated by
recognizing the actuarially expected investment return
immediately and recognizing the difference between the actual
investment return and the actuarially expected investment
return over a five-year period), excluding the balance in the
annuity reserve account, and of the present value of normal
contributions and of member contributions payable with
respect to all active members on July 1, 2002, during the
remainder of their active service.
(2) For the fiscal years beginning July 1, 2003, and
ending June 30, 2011, the amount of each annual accrued
liability contribution shall be equal to the amount of such
contribution for the fiscal year, beginning July 1, 2002,
except that, if the accrued liability is increased by
legislation enacted subsequent to June 30, 2002, but before
July 1, 2003, such additional liability shall be funded over
a period of ten years from the first day of July, coincident
with or next following the effective date of the increase.
The amount of each annual accrued liability contribution for
such additional legislative liabilities shall be equal to the
amount of such contribution for the first annual payment.
(3) Notwithstanding any other provision of law,
beginning July 1, 2004, and ending June 30, 2011, the
outstanding balance of the increase in accrued liability due
to the change in benefits enacted in 2001 and the outstanding
balance of the net actuarial loss incurred in fiscal year
2000-2001 shall be amortized in equal dollar annual
contributions over a period that ends 30 years after July 1,
2002, and the outstanding balance of the net actuarial loss
incurred in fiscal year 2001-2002 shall be amortized in equal
dollar annual contributions over a period that ends 30 years
after July 1, 2003. For fiscal years beginning on or after
July 1, 2004, if the accrued liability is increased by
legislation enacted subsequent to June 30, 2003, such
additional liability shall be funded in equal dollar annual
contributions over a period of ten years from the first day
of July coincident with or next following the effective date
of the increase.
(4) For the fiscal year beginning July 1, 2011, the
accrued liability contribution rate shall be computed as the
rate of total compensation of all active members which shall
be certified by the actuary as sufficient to fund as a level
percentage of compensation over a period of 24 years from
July 1, 2011, the present value of the liabilities for all
prospective benefits calculated as of June 30, 2010,
including the supplemental benefits as provided in sections
8348, 8348.1, 8348.2, 8348.3, 8348.4, 8348.5, 8348.6 and
8348.7, in excess of the actuarially calculated assets in the
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