2.43.1310    APPLICATION OF ACTUARIAL ASSUMPTIONS FOR DETERMINING GABA

(1) For purposes of determining the PERS GABA rates referenced in 19-3-1605(5), MCA, the actuary will:

(a) reduce the 1.5% GABA rate established in 19-3-1605(4), MCA by 0.1% for each full 2 percentage points the funded percentage is below 90%;

(b) establish a GABA rate expressed in tenths of a percent.

(2) This rule will not apply until the PERS amortization period is under 40 years.

(3) Once the PERS amortization period is under 40 years, the actuary will adjust the 1.5% GABA each year, based on that year's funding percentage.

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History: 19-2-403, 19-3-1605, MCA; IMP, 19-2-405, 19-3-1605, MCA; NEW, 2013 MAR p. 2069, Eff. 11/15/13.