§ 10-14-104. ADMINISTRATION OF THE TRUST FUND.

(a)

Funding. Each year, the county shall appropriate and pay to the Other Post-Employment Benefits Trust Fund an amount that is sufficient to pay:

(1)

The county's estimated cost of all post-employment health and life insurance claims the Trust Fund is projected to pay for following year; and

(2)

All or part of the difference in the estimated cost of the following year's claims and the annual required contribution, which shall be an actuarially determined amount to be paid each year to advance fund anticipated future other post-employment benefit payments, discounted to their present value.

(b)

Determination of required contribution. On receipt of an actuarial valuation, the Director of Budget and Finance shall make the determination of the annual required contribution to the Trust Fund, based on the results of the actuarial valuation.

(c)

Trust Fund assets exempt from claims. Any asset held by the Trust Fund is not subject to any creditor of the county and is exempt from execution, attachment, prior assignment, or any other judicial relief or order for the benefit of any creditor or third person.

(Bill No. 70-06, § 1, 7-1-2006; Bill No. 30-08, § 1, 6-30-2008; Bill No. 77-15, § 2, 11-4-2015 )