Vermont Statutes Title 16 Sec. 1944a
Terms Used In Vermont Statutes Title 16 Sec. 1944a
- Board: shall mean the board of trustees of the System provided for in section 1942 of this title to administer the System. See
- Earnable compensation: shall mean the full rate of compensation for the performance of professional services paid to a teacher when the teacher works the full normal working time for his or her position, in whatever manner paid, plus all additional wages received by a teacher for duties performed that provide direct educational value to the students. See
- Member: shall mean any person included in the System pursuant to section 1933 of this chapter. See
- State: shall mean the State of Vermont. See
§ 1944a. Periodic actuarial reports
The Board shall cause to be made an actuarial reevaluation of the rate of member contributions deducted from earnable compensation pursuant to subdivision 1944(b)(2) of this title, on a periodic basis at least every three years, to determine whether the amount deducted is necessary to make the contributions picked up and paid by the State for such members cost neutral to the General Fund. The actuarial re-evaluation shall consider all relevant factors including federal tax law changes. The Board shall report the results of the actuarial reevaluation to the General Assembly together with any recommendations for adjustment in the members’ contribution rate under subdivision 1944(b)(2). (Added 1991, No. 247 (Adj. Sess.), § 6.)