Sacramento Municipal Code Art. XII Administration, Investment and Fiscal Management Board

The administration, investment and fiscal management board shall exercise the powers and perform the duties conferred on it by the City Charter and this chapter. (Prior code § 34.12.1200)

Member's contributions and the city's contributions shall be accounted for in the manner provided in former (1989) Charter Section 386. (Prior code § 34.12.1201)

As of January 1, 1977, and on or before January 1st of every third year thereafter, the board shall make an actuarial investigation into the mortality, service and compensation experience of the members and beneficiaries under the equal shares plan provided for in Article V of this chapter, and further shall make an actuarial evaluation of the assets and liabilities of the retirement system held for the funding of said plan, and upon the basis of such investigation and evaluation shall:

A. Adopt for the retirement system such interest rate and such mortality, service and tables as shall be deemed necessary for the equal shares plan;

B. Make such revision in member's normal rates of contribution provided in Article V of this chapter, and the city's contribution percentages provided in such chapter, as shall be deemed necessary to conform with the requirements of former (1989) Charter Section 385.

The actuarial evaluation of all other retirement plans of the system shall be conducted in the manner provided in former (1989) Charter Section 384. (Prior code § 34.12.1202)