The district may budget and provide for payment into the fund of the retirement plan an amount sufficient:
(1) To provide on an actuarial reserve basis the amortized level premium cost of the retirement benefits which, under the provision of the retirement system, are to be provided by the district to its employees who attain the retirement age or retire in accordance with the terms of the retirement plan.
(2) To meet the actuarially computed costs of retirement benefits measured on the basis of services rendered or to be rendered by an employee before or after the date on which such employee becomes a member of the retirement plan. [1965 c.348 §3]
Section: Previous 264.710 264.715 264.720 264.725 264.730 264.735 264.740 264.745 264.750 264.810 264.820 264.830 264.840 264.875 264.990 NextLast modified: August 7, 2008