Alabama § 45-37-123.81 - Actuarial Methods.
Full text of Alabama Code of Alabama § 45-37-123.81 — Actuarial Methods., with citation guidance and answers to common questions.
§ 45-37-123.81. Actuarial Methods.
There shall be an actuarial valuation of the plan at least once every five years. The plan assets are to be valued on the last day of the fiscal year, or on any other date determined by the pension board, using any reasonable method of valuation. In establishing the liabilities under the plan and contributions thereto, an enrolled actuary shall use such methods and assumptions as shall reasonably reflect the cost of the benefits. The actuary shall be a member of the American Academy of Actuaries or the Society of Actuaries, and the board shall require the actuary, taking into account the result of the investigation and analysis, to certify whether or not the rates of benefits established herein or from time to time established by the pension board are actuarially feasible and adequate in view of the funds available.
Frequently Asked Questions About Alabama § 45-37-123.81
What does Code of Alabama § 45-37-123.81 cover?
Section 45-37-123.81 ("Actuarial Methods.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 45-37-123.81?
A common citation format is "Code of Alabama § 45-37-123.81" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 45-37-123.81 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.