§ 120-113. Duties and functions of Fiscal Research Division.
§120‑113. Duties and functions of Fiscal Research Division.
(a) The Fiscal ResearchDivision of the Legislative Services Commission of the General Assembly shallhave authority to evaluate on a continuing basis all aspects of any State,municipal, or other retirement system, funded in whole or in part out of publicfunds, and all aspects of any program of hospital, medical, disability, orrelated benefits provided for teachers and State employees, funded in whole orin part by State funds, as to actuarial soundness. The Fiscal Research Divisionshall make periodic detailed reports to the General Assembly specificallysetting forth the findings of such evaluations. In conducting its evaluationsthe division shall have complete access without charge to all books, accounts,and personnel of the retirement systems, and to all books, accounts, andpersonnel of agencies and contractors charged with providing programs ofhospital, medical, disability, or related benefits for teachers and Stateemployees.
(b) No provision ofthis Article shall be deemed or in any way construed to preclude the authorityof any retirement system funded in whole or in part out of public funds to hirean actuary for any such retirement system. No provision of this Article shallbe deemed or in any way construed to preclude the authority of any program ofhospital, medical, disability, or related benefits provided for teachers andState employees, funded in whole or in part by State funds, to hire an actuaryfor any such program.
(c) The Fiscal ResearchDivision shall, in addition to the powers and functions conferred by thisArticle, render such assistance as the Legislative Services Commission mayrequire with respect to any other matter requiring actuarial evaluations. (1977,c. 503, s. 2; 1987 (Reg. Sess., 1988), c. 1091, s. 2.)