The Actuary shall be the technical advisor of the board on matters regarding the operation of the system. The actuary shall:
         (a) at least once every 3 years, make a general
    
investigation of the mortality, retirement, disability, employment, turnover, interest and earnable compensation;
        (b) recommend tables to be used for all required
    
actuarial calculations;
        (c) make an annual valuation of the liabilities and
    
reserves of the system, make an annual determination of the amount of contributions required from the State under this Article, and certify the results thereof to the board; and
        (d) perform such other duties as the board may assign.

Terms Used In Illinois Compiled Statutes 40 ILCS 5/14-138

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
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