Title 45
Towns and Cities

Chapter 65
Retirement Security Act for Locally Administered Pension Funds

§ 45-65-5. Actuarial valuation methodology.

Actuarial methods used by the actuary in preparing an actuarial experience study or annual actuarial valuation shall be in compliance with accepted actuarial standards and applicable public pension accounting laws, rules and regulations. The actuary shall not, year to year, change actuarial methods for the sole purpose of achieving a more favorable funding or fiscal result. Any actuarial study shall be made by the actuary in good faith and in accordance with accepted actuarial standards.