The board of trustees is authorized to adopt a method of providing postretirement benefit adjustments for a beneficiary in his postretirement years. Such method of adjustment may result in the adoption by the board of trustees of a method of financing other than that described in paragraphs (1) through (3) of Code Section 47-3-43 and shall be based upon:
(1) Recommendation of the actuaries for the board of trustees; and
(2) Maintaining the actuarial soundness of the system.
The board of trustees may specify a minimum age which a beneficiary must have attained in order to be eligible for the postretirement benefit adjustment.
Section: Previous 47-3-120 47-3-121 47-3-122 47-3-123 47-3-124 47-3-125 47-3-126 47-3-126.1 47-3-126.2 47-3-126.3 47-3-126.4 47-3-127 47-3-127.1 47-3-128 47-3-129 NextLast modified: October 14, 2016