Sec. 7. (a) After each fiscal year, the actuary shall report the status of the reserve account for persons receiving benefits from the fund. The report must contain a statement of the reserves in the account and the accrued liability for these persons. (b) Taking into consideration the actuary's report, the board shall after June 30, 1985, charge the costs of postretirement benefit increases against any difference between the reserves in the account and the accrued liability. However, the board may withhold from the difference, as a contingency reserve, an amount less than or equal to two percent (2%) of the reserve. If the amount of the difference is insufficient to meet the costs of the postretirement benefit increases, the excess shall be charged against each employer's account in the retirement allowance account on a prorata basis. IC 5-10.3-6 Chapter 6. Participation by Political Subdivisions 5-10.3-6-0.5 "Plan" 5-10.3-6-1 Admission to fund or plan 5-10.3-6-1.1 Volunteer fire departments; plan participation 5-10.3-6-1.5 Authorized agent in third class city or town 5-10.3-6-2 Preliminary survey 5-10.3-6-3 Powers of governing body 5-10.3-6-4 Accounts 5-10.3-6-5 Repealed 5-10.3-6-6 Appropriations and payments by school corporations 5-10.3-6-7 Collection of payments 5-10.3-6-8 Withdrawal of political subdivision 5-10.3-6-8.2 Freeze in participation by political subdivision 5-10.3-6-8.3 Retirement plans offered by political subdivision that withdraws from or freezes participation in fund 5-10.3-6-8.5 Certain state university employees involved in health care 5-10.3-6-8.9 State employee terminations resulting from lease or contractual arrangement with nongovernmental entity 5-10.3-6-9 Participation of political subdivision with retirement system 5-10.3-6-10 Transfer of assets 5-10.3-6-11 Repealed
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