Section 13-514. Retirement board; adoption of tables and certification of rates

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Every five years, the actuary of the retirement board shall  make  an  actuarial investigation into the mortality and service experience of
  the contributors and beneficiaries as defined in this chapter, and he or
  she shall make a valuation, as of June thirtieth of each  year,  of  the
  various  funds  provided  for  by  this  chapter. Upon the basis of such
  investigation such board shall:
    1. Adopt for the retirement system such mortality, service  and  other
  tables as shall be deemed necessary;
    2.  Certify  the  rates  of deduction from salary necessary to pay the
  annuities authorized under the provisions of this chapter.

                    
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