123:1-71-04. Actuarial evaluation of the fund

Every year, the director shall have prepared, by an accredited actuary familiar with life and health insurance, a report showing a complete actuarial evaluation of the fund and the adequacy of the rates of contribution and reserves. The report shall contain such recommendations as the actuary considers advisable. The director may at any time request the actuary to conduct studies or evaluations to determine the adequacy of the rates of contribution. Such rates may be adjusted by the director, as recommended by the actuary, to be effective as of the first of any fiscal year thereafter.

Replaces: 125-1-04

Five Year Review (FYR) Dates: 05/15/2017 and 05/15/2022
Promulgated Under: 119.03
Statutory Authority: 124.09
Rule Amplifies: 124.87
Prior Effective Dates: 3/18/82, 2/4/96, 8/26/12

Prior History: (Effective: 08/26/2012
R.C. 119.032 review dates: 05/15/2017
Promulgated Under: 119.03
Statutory Authority: 124.09
Rule Amplifies: 124.87
Prior Effective Dates: 3/18/82, 2/4/96 )