Biennial report of Administrator.
1. Not later than December 1, 1956, and December 1 of every second year thereafter, the Administrator shall submit to the Governor a report covering the administration and operation of this chapter during the preceding biennium and shall make such recommendations for amendment to this chapter as he deems proper.
2. Such reports must include a balance sheet of the money in the Fund, in which there must be provided, if possible, a reserve against the liability in future years to pay benefits in excess of the then current contributions, which reserves must be set up by the Administrator in accordance with accepted actuarial principles on the basis of statistics or employment business activity and other relevant factors for the longest possible period.
Last modified: February 25, 2006