§ 10-14-105. DIRECTOR OF BUDGET AND FINANCE - DUTIES.

The Director of Budget and Finance:

(1)

Is responsible for custody of the Other Post-Employment Benefits Trust Fund, including:

(i)

Receipt of annual appropriations by the county;

(ii)

Determination of the other post-employment benefits money available for investment; and

(iii)

Disbursements against billing; and

(2)

Shall provide for the engagement of actuarial and other services required for the administration of the Fund including:

(i)

Identifying retiree health care and life insurance costs systematically over periods that approximate employees' years of service;

(ii)

Identifying actuarial accrued liabilities for promised benefits associated with past service;

(iii)

Reporting progress made in funding retiree healthcare obligations; and

(iv)

At least once in each two-year period, making an actuarial investigation into health care cost trends, health care usage and mortality rates of employees, retirees, and beneficiaries and making a valuation of the assets and liabilities of the Trust Fund.

(Bill No. 70-06, § 1, 7-1-2006; Bill No. 36-08, § 1, 6-30-2008)