R2-8-123. Actuarial Assumptions and Actuarial Value of Assets

A. For the purposes of this Section, “market value” means an estimated monetary worth of an asset based on the current demand for the asset and the amount of that type of asset available for sale. B. The Board adopts the following actuarial assumptions and asset valuation method: 1. The interest and investment return rate assumptions are determined by the Board. 2. The actuarial value of assets equals the market value of assets: a. Minus a 10-year phase-in of the excess for years in which actual investment return exceeds expected investment return; and b. Plus a 10-year phase-in of the shortfall for years in which actual investment return falls short of expected investment return.