Sec. 9. The board shall determine the actuarial liability resulting from the years of service of the members in the fund and shall determine the state's share of the liability. The board shall distribute the payment of this liability over a period of years that will be equitable to the state and the fund, not to exceed thirty (30) years.
[Pre-2006 Education Finance Recodification Citation: 21-6.1-4-7.]
As added by P.L.2-2006, SEC.28. Amended by P.L.111-2015, SEC.4.