N.Y. Comp. Codes R. & Regs. tit. 11, § 136-2.6 – Financial soundness and actuarial principles. | Midpage
§ 136-2.6
N.Y. Comp. Codes R. & Regs. tit. 11, § 136-2.6
Financial soundness and actuarial principles.
Insurance
(a) Consistent with his or her obligations as a fiduciary, the Comptroller shall establish an actuarial committee comprised exclusively of unaffiliated persons that have expertise and experience in actuarial science.
(b) The Comptroller shall:
(1) develop an actuarial committee charter for the committee;
(2) establish written standards for the selection of actuarial committee members;
(3) authorize the actuarial committee to make recommendations to the retirement system actuary regarding actuarial assumptions and methodologies; and
(4) authorize the actuarial committee to review and report to the Comptroller on the financial soundness of the retirement system.