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. [1975 c.782 §44]
Section: Previous 523.480 523.490 523.510 523.610 523.620 523.625 523.630 523.640 523.650 523.660 523.670 523.680 523.690 523.700 523.710 NextLast modified: August 7, 2008