(1) Not later than November 1 of each plan year of a plan, the actuary shall certify to the board and the executive director of the retirement system whether or not a plan is in endangered status for such a plan year.
(2) In any case in which the actuary certifies that a plan is in endangered status for a plan year, the executive director of the retirement system shall, not later than thirty (30) business days following the certification, provide notification of the endangered status to the members, beneficiaries, the general assembly, the governor, the general treasurer and any local or municipal employer of a MERS plan determined to be in endangered status. The notification shall also be posted electronically on the retirement board's website.
History of Section.
P.L. 2011, ch. 408, § 8; P.L. 2011, ch. 409, § 8.