RBH No. 9314
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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
HOUSE BILL 2996 By: Lepak
AS INTRODUCED
An Act relating to retirement; amending 47 O.S. 2021,
Sections 2-300, as amended by Section 8, Chapter 151,
O.S.L. 2023 (47 O.S. Supp. 202 3, Section 2-300), 2-
304, and 2-307.2, which relate to the Oklahoma Law
Enforcement Retirement System; defining term;
modifying terms; updating references; and declar ing
an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 47 O.S. 2021, Section 2 -300, as
amended by Section 8, Chapter 151, O.S.L. 2023 (47 O.S. Supp. 2023,
Section 2-300), is amended to read as follows:
Section 2-300. As used in Section 2-300 et seq. of this title:
1. "System" means the Oklahoma Law Enforcement Retirement
System;
2. "Act" means Section 2-300 et seq. of this title;
3. "Board" means the Oklahoma Law Enforce ment Retirement Board
of the System; RBH No. 9314
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4. "Executive Director" means the managing officer of the
System employed by t he Board;
5. "Fund" means the Oklahoma Law Enforcement Retir ement Fund;
6. "Participating Employer" means any Oklahoma entity with
employees that are members of the System pursuant to this act;
7. a. "Member" means:
(1) all commissioned law enforceme nt officers of the
Oklahoma Highway Patrol Division of the
Department of Public Safety who have obtained
certification from the Council on Law Enforcement
Education and Training, and all cadets of a
Patrol Academy of the Department of Public
Safety,
(2) law enforcement officers and criminalists of the
Oklahoma State Bureau of Investigation,
(3) law enforcement officers of the Oklahoma State
Bureau of Narcotics and Dangerous Drugs Contro l
designated to perform dut ies in the investigation
and prevention of cr ime and the enforcement of
the criminal laws of this st ate,
(4) law enforcement officers of the Alcoholic
Beverage Laws Enforcemen t Commission designated
to perform duties in the investigation and RBH No. 9314
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prevention of crime and the enforcemen t of the
criminal laws of this state,
(5) employees of the Communications Section of the
Oklahoma Highway Patrol Division, radio
technicians and tower technicians of the
Department of Public Saf ety, who are employed in
any such capacity as of June 30, 2008 , and who
remain employed on or after July 1, 2008, until a
termination of service, or until a termination of
service with an election of a vested bene fit from
the System, or until retirement. Effective July
1, 2008, a person employed for the first time a s
an employee of the Department of Public Safety in
the Communications Division as an information
systems telecommunication technician of the
Department of Public Safety shall not be a member
of the System,
(6) park rangers of the Oklahoma Tourism and
Recreation Department and any park manager or
park supervisor of the Oklahoma Tourism and
Recreation Department, who was employed in such a
position prior to July 1, 1985, and who elects on
or before September 1, 1996, to parti cipate in
the System, and RBH No. 9314
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(7) inspectors of the State Board of Pharmacy,
(8) police officers who are CLEET certified and
employed by the University of Oklahoma or
Oklahoma State University and who participate in
this System pursuant to Section 2 -314 of this
title, and
(9) Lake Patrolmen or Dispatchers of the Grand River
Dam Authority and who participate in this System
pursuant to Section 2 -315 of this title.
b. Effective July 1, 1987, a member does not include a
"leased employee" as defined under Section 414(n)(2)
of the Internal Revenue Code of 1986, as amended.
Effective July 1, 1999, any individual who agrees with
the participating employe r Participating Employer that
the individual's services are to be performed as a
leased employee or an independent contractor shall not
be a member regardless of any classification as a
common-law employee by the Internal Revenue Service or
any other governmental agency, or any court of
competent jurisdiction.
c. All persons who shall be offered a position of a
commissioned law enforcement officer as an employee of
one of the agencies described in subparagraph a of
this paragraph shall participate in the System upon RBH No. 9314
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the person meeting the requisite post-offer-pre-
employment physical examination standards which shall
be subject to the following requiremen ts:
(1) all such persons shall be of good moral
character, free from deformitie s, mental or
physical conditions, or disease and a lcohol or
drug addiction which would prohibit the person
from performing the duties of a law enforcement
officer,
(2) the physical-medical examination shall pertain to
age, sight, hearing, agility and other conditions
the requirements of which shall be est ablished by
the Board,
(3) the person shall be required to meet the
conditions of this subsection prior to the
beginning of actual employment but after an offer
of employment has been tendered by a
participating employer Participating Employer ,
(4) the Board shall have authority to deny or revoke
membership of any person submitting false
information in such person's membership
application, and
(5) the Board shall have final authority in
determining eligibili ty for membership in th e RBH No. 9314
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System, pursuant to the provisions of this
subsection;
7. 8. "Normal retirement date" means the date at which the
member is eligible to receive the unreduced payments of the member's
accrued retirement benefit. Such date shall be th e first day of the
month coinciding with or following the date the member :
a. completes twenty (20) years of vesting service, or
b. attains sixty-two (62) years of age with ten (10)
years of vesting service, or
c. attains sixty-two (62) years of age, if:
(1) the member has been transferred to this System
from the Oklahoma Publi c Employees Retirement
System on or after July 1, 1981, and
(2) the member would have been vested had the member
continued to be a member of the Oklahoma Public
Employees Retirement S ystem.
With respect to distributions under the System made for calendar
years beginning on or after January 1, 2005, the System shall apply
the minimum distribution incidental benefit requirements, incidental
benefit requirements, and minimum distribution requirements of
Section 401(a)(9) of the Internal Revenue Code of 1986, as amended,
in accordance with the final regulations under Section 401(a)(9) of
the Internal Revenue Code of 1986, as amended, including Treasury
Regulations Sections 1.401(a)(9) -1 through 1.401(a)(9)-9; provided, RBH No. 9314
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that for individuals who attain seventy an d one-half (70 1/2) years
of age after December 31, 2019, but before January 1, 2023, such
distributions shall take into account that "age 70 1/2" was stricken
and "age 72" was inserted in Sections 401(a)(9)(B)(iv)(I),
401(a)(9)(C)(i)(I) and 401(a)( 9)(C)(ii)(I) of the Internal Revenue
Code of 1986, as amended, and, provided further, that for
individuals who attain seventy-two (72) years of age after December
31, 2022, such distributions shall take into account that "age 72"
was stricken and "the applicable age", as defined in Section
401(a)(9)(C)(v) of the Internal Revenue Code of 1986, as amended,
was inserted in Section 401(a)(9)(B)(iv)(I) of the Internal Revenue
Code of 1986, as amended (applicable to calend ar year 2023), Section
401(a)(9)(C)(i)(I) and Section 401(a)(9)(C)(ii)(I) of the Internal
Revenue Code of 1986, as amended, and that the further revis ion of
Section 401(a)(9)(B)(iv) of the Internal Revenue Code of 1986, as
amended, effective for c alendar years after 2023 with respect to
certain distributions shall be taken into account, in all cases
notwithstanding any provision of the System to the con trary. With
respect to distributions under the System made for calendar years
beginning on or after January 1, 2001, through December 31, 2004,
the System shall apply the minimum distribution requ irements and
incidental benefit requirements of Section 401 (a)(9) of the Internal
Revenue Code of 1986, as amended, in accordance with the regulations
under Section 401(a)(9) of the Internal Revenue Code of 1986, as RBH No. 9314
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amended, which were proposed in January 2001, notwithstanding any
provision of the System to the co ntrary.
Effective July 1, 1989, notwithstanding any other provision
contained herein to the contra ry, in no event shall commencement of
distribution of the accrued retirement benefit of a member b e
delayed beyond April 1 of the calendar year following the later of:
(1) the calendar year in which the member reaches seventy and one-
half (70 1/2) years o f age for a member who attains this age before
January 1, 2020, or, for a member who attains this age on or after
January 1, 2020, but before January 1, 2023, the calendar year in
which the member reaches seventy-two (72) years of age, or effective
for distributions required to be made after December 31, 2022, the
calendar year in which the member reac hes seventy-three (73) years
of age for an individual who at tains age seventy-two (72) after
December 31, 2022, or "the applicable age", as defined in Section
401(a)(9)(C)(v) of the Internal Revenue Code of 1986, as amended, if
later; or (2) the actual ret irement date of the member. A member
electing to defer the commencement of retirement benefits pursuant
to Section 2-308.1 of this title may not defer the benef it
commencement beyond the age of sixty-five (65).
Effective September 8, 2009, notwithstandin g anything to the
contrary of the System, the System, which a s a governmental plan
(within the meaning of Section 414(d) of the Internal Revenue Code
of 1986, as amended), is treated as having complied with Section RBH No. 9314
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401(a)(9) of the Internal Revenue Code of 1986, as amended, for all
years to which Section 401(a)(9) o f the Internal Revenue Code of
1986, as amended, applies to the System if the System complies with
a reasonable and good faith interpretation of Section 401(a)(9) of
the Internal Revenue Code of 1986, as amended.
A member who was required to join the Syste m effective July 1,
1980, because of the transfer of the employing agency from the
Oklahoma Public Employees Retirement System to the System, and was
not a member of the Oklahoma Public Employee s Retirement System on
the date of such transfer shall be allo wed to receive credit for
prior law enforcement service rendered to this state, if the member
is not receiving or eligible to receive retirement credit or
benefits for such service in any other public retirement system,
upon payment to the System of the em ployee contribution the member
would have been subject to had the member been a member of the
System at the time, plus five percent (5%) interest. Service credit
received pursuant to this parag raph shall be used in determining the
member's retirement benefit, and shall be used in determining years
of service for retirement or vesting purposes;
8. 9. "Actual paid base salary" means the salary received by a
member, excluding payment for any accumul ated leave or uniform
allowance. Salary shall include any a mount of nonelective salary
reduction under Section 414(h) of the Internal Revenue Code of 1986; RBH No. 9314
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9. 10. "Final average salary" means the average of the highest
thirty (30) consecutive complete month s of actual paid gross salary.
Gross salary shall includ e any amount of elective salary reduction
under Section 457 of the Internal Revenue Code of 1986, as amended ,
and any amount of nonelective salary reduction under Section 414(h)
of the Internal Reven ue Code of 1986, as amended. Effective July 1,
1992, gross salary shall include any amount of elective salary
reduction under Section 125 of the Internal Revenue Co de of 1986, as
amended. Effective July 1, 1998, gross salary shall include any
amount of elective salary reduction not includable in the gross
income of the member under Section 132(f)(4) of the Internal Revenue
Code of 1986, as amended. Effective July 1 , 1998, for purposes of
determining a member's compensation, any contribution by the member
to reduce his or her regular cash remuneration under Sec tion
132(f)(4) of the Internal Revenue Code of 1986, as amended, shall be
treated as if the member did not m ake such an election. Only salary
on which required contributions have been made may be us ed in
computing the final average salary. Gross salary s hall not include
severance pay.
In addition to other applicable limitations, and notwithstanding
any other provision to the contrary, for plan years beginning on or
after July 1, 2002, the annual gr oss salary of each "Noneligible
Member" taken into account under the System shall not exceed the
Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA") RBH No. 9314
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annual salary limit. The EGTRRA annual salary limit is Two Hundred
Thousand Dollars ($200 ,000.00), as adjusted by the Commissioner for
increases in the cost of living in accordance with Section
401(a)(17)(B) of the Internal Revenue Code of 1986, as amende d. The
annual salary limit in effect for a calendar year applies to any
period, not exceeding twelve (12) months, over which salary is
determined ("determination period") beginning in such calendar year.
If a determination period consists of fewer than t welve (12) months,
the EGTRRA salary limit will be multiplied by a fraction, the
numerator of which is the number of months in the determination
period, and the denominator of which is twelve (12). For purposes
of this section, a "Noneligible Member" is any member who first
became a member during a plan year commencing on or after July 1,
1996.
For plan years beginning on or after July 1, 2002, any r eference
in the System to the annual salary limit under Section 401(a)(17) of
the Internal Revenue Code of 1 986, as amended, shall mean the EGTRRA
salary limit set forth in this provision.
Effective January 1, 2008, gross salary for a plan year shall
also include gross salary, as described above, for services, but
paid by the later of two and one-half (2 1/2) months after a
member's severance from employment or the end of the calendar year
that includes the date the member terminated employment, if it is a
payment that, absent a severance from employment, would have been RBH No. 9314
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paid to the member while the member contin ued in employment with the
employer.
Effective January 1, 2008, any payments not descri bed above
shall not be considered gross salary if paid after severance from
employment, even if they are paid by the later of two and one-half
(2 1/2) months after the d ate of severance from employment or the
end of the calendar year that includes the date of severance from
employment, except payments to an individu al who does not currently
perform services for the employer by reason of qualified military
service within the meaning of Section 414(u)(5) of the Internal
Revenue Code of 1986, as amended, to th e extent these payments do
not exceed the amounts the individ ual would have received if the
individual had continued to perform services for the employer rather
than entering qualified military service.
Effective January 1, 2008, back pay, within the mean ing of
Section 1.415(c)-2(g)(8) of the Income Tax Regulations, shall be
treated as gross salary for the limitation year to which the back
pay relates to the extent the ba ck pay represents wages and
compensation that would otherwise be included in this defi nition.
Effective for years beginning a fter December 31, 2008, gross
salary shall also include differential wage payments under Section
414(u)(12) of the Internal Revenue Code of 1986, as amended;
10. 11. "Credited service" means the period of service used to
determine the amount of benefits payab le to a member. Credited RBH No. 9314
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service shall consist of the period during which the member
participated in the System or the predecessor Plan as an active
employee in an eligible membership classification, plus any servi ce
prior to the establishment of the pred ecessor Plan which was
credited under the predecessor Plan and for law enforcement officers
and criminalists of the Oklahoma State Bureau of Investigation and
the Oklahoma State Bureau of Narcotics and Dangerous Dru gs Control
who became members of the Syst em on July 1, 1980, any service
credited under the Oklahoma Public Employees Retirement System as of
June 30, 1980, and for members of the Communications and Lake Patrol
Divisions of the Oklahoma Department of Publi c Safety, who became
members of the Syste m on July 1, 1981, any service credited under
the predecessor Plan or the Oklahoma Public Employees Retirement
System as of June 30 , 1981, and for law enforcement officers of the
Alcoholic Beverage Laws Enforcement Commission who became members of
the System on July 1, 1982, any service credited under the Oklahoma
Public Employees Retirement System as of June 30, 1982, and for park
rangers of the Oklahoma Tourism and Recreation Department who became
members of the System on July 1, 1985, any service credite d under
the Oklahoma Public Employees Retirement System as of June 30, 1985,
and for inspectors of the State Board of Pharmacy who became members
of the System on July 1, 1986, any service credited under the
Oklahoma Public Employees Retirement System as o f June 30, 1986, for
law enforcement officers of the Oklahoma Capitol Patrol Division of RBH No. 9314
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the Department of Public Safety w ho became members of the System
effective July 1, 1993, any service credited under the Oklaho ma
Public Employees Retirement System as of June 30, 1993, and for all
commissioned officers in the Gunsmith/Ammunition Reloader Division
of the Department of Publ ic Safety who became members of the System
effective July 1, 1994, any service credited under the Oklahoma
Public Employees Retirement System as of June 30, 1994, and for the
park managers or park supervisors of the Oklahoma Tourism and
Recreation Department who were employed in such a position prior to
July 1, 1985, and who elect to become member s of the System
effective September 1, 19 96, any service transferred pursuant to
subsection C of Section 2-309.6 of this title and any service
purchased pursuant t o subsection B of Section 2-307.2 of this title.
Effective August 5, 1993, an authorized lea ve of absence shall
include a period of a bsence pursuant to the Family and Medical Leave
Act of 1993;
11. 12. "Disability" means a physical or mental condition
which, in the judgment of the Board, totally and presumably
permanently prevents the member from e ngaging in the usual and
customary duties of the occupation of the member and thereafter
prevents the member from performing the duties of any occupation or
service for which the member is qualified by reason of training,
education or experience. A person is not under a disability when
capable of performing a service to the employer, regardless of RBH No. 9314
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occupation, providing the salary of the employee is not diminished
thereby;
12. 13. "Limitation year" means the year used in applying the
limitations of Section 41 5 of the Internal Revenue Code of 1986,
which year shall be the calendar year;
13. 14. "Line of duty" means any action which a member whose
primary function is crime co ntrol or reduction or enforcement of the
criminal law is obligated or authorized by rule, regulations,
condition of employment or serv ice, or law to perform including
those social, ceremonial or athletic functions to which the member
is assigned, or for wh ich the member is compensated, by the agency
the member serves;
14. 15. "Personal injury" or "injury" means any traumatic
injury as well as diseases which are caused by or result from such
an injury, but not occupational diseases;
15. 16. "Catastrophic nature" means consequences of an injury
that permanently prevent an individual from performing an y gainful
work;
16. 17. "Traumatic injury" means a wound or a condition of the
body caused by external force including injuries inflicted by
bullets, explosives, sharp ins truments, blunt objects or other
physical blows, chemicals, electricity, climatic condi tions,
infectious diseases, radiation and bacteria, but excluding stress
and strain; and RBH No. 9314
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17. 18. "Beneficiary" means the individual designated by the
member on a beneficiar y designation form supplied by the Oklahoma
Law Enforcement Retirement System, or, if there is no designated
beneficiary or if the designated beneficiary predecease s the member,
the estate of the member. If the member's spouse is not designated
as the sole primary beneficiary, the member's spouse must sign a
consent.
SECTION 2. AMENDATORY 47 O.S. 2021, Section 2-304, is
amended to read as follows:
Section 2-304. A. The Department of Public Safety, the
Oklahoma State Bureau of Investigation, the Oklahoma State Bureau o f
Narcotics and Dangerous Drugs Control, the Alcoholic Beverage
Control Board, the Ok lahoma Tourism and Recreation Departmen t and
the State Board of Pharmacy shall make contributions to the fund as
follows:
The Department of Public Safety, Oklahoma State B ureau of
Investigation, Oklahoma State Bureau of Narcotics and Dangerous
Drugs Control, the Alcoholic Beverage Control Board , the Oklahoma
Tourism and Recreation Department and the State Board of Pharmacy
Participating Employers shall contribute to the fun d an amount equal
to eleven percent (11%) of the actual paid base sal ary of each
member. RBH No. 9314
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B. Each member of the System shall make contributions to the
fund in an amount equal to eight percent (8%) of the actual paid
base salary of the member.
Member contributions shall be dedu cted by each participating
employer Participating Employer for such benefits as the Board is by
law authorized to administer and shall be remitted monthly, or as
the Board may otherwise provide, for deposit in the fund.
C. Each employer Participating Employer shall pick up under the
provisions of Section 414(h)(2) of the Internal Revenue Code of 1 986
and pay the contribution which the member is required by law to make
to the System for all compensation earned after December 31, 1989.
Although the contribu tions so picked up are designated as member
contributions, such contributions shall be treated as contributions
being paid by the employer in lieu of contributions by the member in
determining tax treatment under the Internal Revenue C ode of 1986
and such picked up contributions shall not be includable in the
gross income of the member until such a mounts are distributed or
made available to the member or the beneficiary of the member. The
member, by the terms of this System, shall not have any option to
choose to receive the contributions so picked up directly and the
picked up contributions must b e paid by the employer to the System.
Member contributions which are picked up shall be treated in the
same manner and to the same extent as member contributions made
prior to the date on which member contributions were picked up by RBH No. 9314
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the participating employer Participating Employer. Member
contributions so picked up shall be included in gross salary for
purposes of determining benefits and con tributions under the System.
The employer Participating Employer shall pay the member
contributions from the same source of funds used in paying salary to
the member, by effecting an equal cash reduction in gross salary of
the member.
SECTION 3. AMENDATORY 47 O.S. 2021, Section 2 -307.2, is
amended to read as follo ws:
Section 2-307.2 A. The total service credit of a member who
retires, elects a Deferred Option Plan or terminates emplo yment and
elects a vested benefit shall include not to exceed one hundred
thirty (130) days of unused sick leave accumulated while a member of
the System. Effective July 1, 2008, a member who retires, elects a
Deferred Option Plan or terminates employment and elects a vested
benefit shall include not to exceed two hundred forty (240) days of
unused sick leave accumulated while a membe r of the System. Such
credit shall be added in terms of whole months. Twenty (20) days of
unused sick leave shall equal on e (1) month for purposes of service
credit. If unused sick leave entitles a member to an additional
year or fraction thereof of ser vice credit, the member's employer
shall reimburse the System for the cost of funding the additional
reserve by paying the a mount determined by the Board pursuant to
Section 25 of this act. Each employer shall provide the System with RBH No. 9314
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adequate and timely i nformation necessary to determine addi tional
benefits and its cost under this section. This section shall apply
to members retiring or vesting on or after July 1, 1985, and shall
not be retroactive. The amount of accrued sick leave available for
determination of a member's monthly benefit fo r purposes of the
deferred option election shall be limited to the accrued sick leave
available as of the effective date of the deferred option election,
but not to exceed two hundred forty (240) days. The member 's
monthly benefit determined as of the eff ective date of the deferred
option election shall not be adjusted for additional accru ed sick
leave earned by the member after the deferred option election.
B. Whenever any member is unable to perform the member 's duties
because of sickness or temporary d isability caused or sustained
while in the discharge of the member 's duty as a member, is
receiving a temporary total disability benefit u nder Section 1 et
seq. of Title 85A of the Oklahoma Statutes, and does not purch ase
service credit as described below, such member shall only receive
prorated service credit based on the contributions mad e by the
member and the member 's employer while the member is receiving a
temporary total disability benefit under Section 1 et seq. of Title
85A of the Oklahoma Statutes . Whenever any member is unable to
perform the member's duties because of sickness or temporary
disability caused or sustained while in the discharge of the
member's duty as a member and is receiving a temporary disab ility RBH No. 9314
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benefit under Section 1 et seq. of Title 85A of the Oklahoma
Statutes, such member shall have the option to purchase s ervice
credit for the time related to such leave of absence for such
sickness or temporary disability.
1. The payment for such purc hase must be completed no later
than three (3) years from the date the member commenced receipt of a
temporary total disabil ity benefit.
2. The purchase price shall be:
a. the actual paid base salary that the member was
entitled to immediately prior to th e member's sickness
or temporary disability minus any vacation or sick
leave payments received by the member during such
sickness or temporary disability, multiplied by,
b. the following percent:
(1) eighteen percent (18%) the combined employer and
member contribution percentages pursuant to
Section 2-304 of this title for members who are
suspended without pay, or
(2) eight percent (8%) the member contributions
percentage pursuant to Section 2 -304 of this
title for members who are not suspended without
pay.
If such member has not be en suspended without pay, the employer
shall contribute, within three (3) months of the completion of the RBH No. 9314
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member's purchase of service credit, ten percent (10%) the employer
contribution percentage pursuant to Section 2 -304 of this title of
the actual paid base salary that the member was entitled to
immediately prior to the member 's sickness or temporary disability
minus any vacation or sick leave payments received by the member
during such sickness or temporary disability.
3. The member may purchase such service credit through:
a. a cash lump-sum payment,
b. a trustee-to-trustee transfer of non -Roth funds from a
Code Section 403(b) annuity or custodial account, an
eligible deferred compensation plan described in Code
Section 457(b) which is maintained by a n eligible
employer described in Code Section 457(e)(1)(A),
and/or a Code Section 401(a) qua lified plan,
c. a direct rollover of tax -deferred funds from a Code
Section 403(b) annuity or custodial account, an
eligible deferred comp ensation plan described in Code
Section 457(b) which is maintained by an eligible
employer described in Code Section 4 57(e)(1)(A), a
Code Section 401(a) qualified plan, and/or a Code
Section 408(a) or 408(b) traditional or conduit
Individual Retirement Acc ount or Annuity (IRA). Ro th
accounts, Coverdell Education Savings Accounts and RBH No. 9314
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after-tax contributions shall not be u sed to purchase
such service credit, or
d. any combination of the above methods of payment.
SECTION 4. It being immediate ly necessary for the pre servation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage an d approval.
59-2-9314 CMA 12/27/23
THOMAS E. CUMMINS CONSULTING ACTUARY, INC.
2512 E. 71
st
Street , Suite D ∙ Tulsa, Oklahoma 74136
(918) 492-9658 ∙ (918) 492- 9659
January 9, 2024
Representative Lepak
Room 453.2
Re: RBH No. 9314
RBH No. 9314 is an OLERS clean up bill.
RBH No. 9314 is a non fiscal bill as defined by OPLAAA .
I am a member of the American Academy of Actuaries and meet the
Qualification Standards of the American Academy of Actuaries to
render the actuarial opinion herein.
Thomas E. Cummins
Thomas E. Cummins, MAAA