Actuarial Funding Assumptions, Tables and Factors—Traditional Retirement Plan.
Ann Arbor City Code § 1:568
in effect1:568. - Actuarial Funding Assumptions, Tables and Factors—Traditional Retirement Plan.
The Retirement System shall be funded on an actuarial basis as set forth in the Retirement Ordinance and in accordance with Michigan Constitution of 1963 Article 9, Section 24 and Michigan Public Act 314 of 1965 (MCLA Section 38.1132 et seq.). After consultation with an actuary, the Board shall adopt such mortality and other tables of experience as are necessary for the funding of the Retirement System on an actuarial basis.
City contributions shall be determined by an annual actuarial valuation using reasonable actuarial cost methods, interest assumptions, mortality and other experience assumptions that meet the standards of the Actuarial Standards Board/American Academy of Actuaries.
The Board shall review the actuarial funding assumptions used to fund the Retirement System. Such review shall occur not less frequently than once every 6 years and may occur more frequently if the Board determines that extraordinary actuarial experience or other changed circumstances should call for an earlier review.
(Ord. No. 16-28, § 1, 1-3-17)
Source: City of Ann Arbor, Michigan, Code (Municode Library, library.municode.com)URL: https://library.municode.com/mi/ann_arbor/codes/code_of_ordinances?nodeId=TITIAD_CH18EMRESY_1_568ACFUASTAFARAREPLFetched: 11/8/2026