§ 36-10.2-5. Determination of endangered status.
A plan is in endangered status for a plan year if the retirement board determines, in consultation with the plan actuary, that the plan:
(i) Has a funded percentage of fifty percent (50%) or less;
(ii) The plan’s funded percentage has decreased for five (5) consecutive plan years.
History of Section.
P.L. 2011, ch. 408, § 8; P.L. 2011, ch. 409, § 8.