reporting. (1) As used in this section: (a) "Baseline period" means calendar years 2013, 2014, and 2015. (b) "Premium tax receipts" means the money received by the office under Subsection 49-11-901.5(1) and paid in accordance with Subsections 49-11-901.5(2)(a) and (b). (c) "State appropriation" means the ongoing state appropriation from the General Fund to the Firefighters Retirement Fund that offsets the gross expense of the Firefighters' Retirement System. (2) The office shall make a determination for the Firefighters' Retirement System, as recommended by the actuary and adopted by the executive director, as follows: (a) determine for the baseline period: (i) the average annual dollar amount of premium tax receipts; (ii) the average annual dollar amount of total employer contributions; and (iii) the proportionate share of total dollar employer contributions funded by premium tax receipts for the baseline period, which is calculated as the average annual dollar amount of premium tax receipts divided by the average annual dollar amount of total employer contributions; (b) determine for each calendar year, beginning after calendar year 2020, the proportionate share of total dollar employer contributions funded by the state appropriation, which is calculated as the dollar amount of the state appropriation divided by the total dollar employer contributions; and (c) if the proportionate share for the year exceeds the proportionate share for the baseline period under Subsection (2)(a)(iii), recommend the actuarially determined dollar amount, if any, that the state appropriation may be reduced by in the future to maintain an equivalent proportionate share that is not expected to exceed the proportionate share for the baseline period. (3) (a) If the determination under Subsection (2)(c) results in recommending a reduction to the state appropriation, the office shall report the dollar amount of the recommended reduction to the governor and Legislature, which may be included in the annual report on contribution rates required under Subsection 49-11-203(1)(h). (b) If the Legislature reduces the state appropriation, the board's subsequent certified contribution rates for the Firefighters' Retirement System shall include any additional member or employer contributions required to maintain the system on a financially and actuarially sound basis due to the reduced funding offset dollars. (4) As required to implement this section, the office may make the determinations using actuarial assumptions and methods adopted by the board.
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