Notwithstanding the provisions of any general or special law to the contrary, the public employee retirement administration commission shall review the current combined table of mortality and select a new table of mortality within 180 days of the effective date of this act.
Summary: Section 67 amends the definition of “actuarial equivalent” to allow the PERAC Actuary to adopt a mortality table and an interest rate. This section requires the Actuary to adopt a mortality table within 180 days of the effective date of the act.