How are employer contributions verified?

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Posted 9 years ago

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The Chief Actuary of each pension fund calculates and certifies the City’s contribution to each of the pension funds. Additionally, every two years, the Comptroller's Office hires an independent actuarial firm to perform a thorough actuarial audit of all aspects of the Chief Actuary's assumptions, methods, and computations, and issues an independent opinion as to the appropriateness and accuracy of the calculations.