(40 ILCS 5/7-199.2)
(from Ch. 108 1/2, par. 7-199.2)
To determine unfunded liability.
To cause to be
actuarially determined the unfunded liability existing in the Fund as of the
date provided by subsection (c) of Section 5-1 of the School Code by reason
of annuities and other benefits payable and to become payable from the Fund
to persons specified in that subsection with respect to periods of service
ending on or before that date, to report the amount so determined to each
school board required under that subsection to pay a proportionate share of
that amount to the Fund, and to receive and apply in accordance with this
Article all amounts so paid to the Fund by those school boards.
(Source: P.A. 87-473.)