Upon implementation of the program, the director or his designee shall prepare an annual financial report of the fund and the program. This report must be submitted to the Treasurer on the date and in the format prescribed by the Treasurer. The director or his designee annually shall evaluate the actuarial soundness of the fund and report this information to the Treasurer.
HISTORY: 1997 Act No. 155, Part II, Section 4A; 2000 Act No. 410, Section 2(E); 2005 Act No. 164, Section 32, eff June 10, 2005.
Effect of Amendment
The 2005 amendment deleted the third sentence relating to audits by the State Auditor.