(a) The Annuity Reserve Fund heretofore established is hereby retained. It shall be the fund in which shall be accumulated reserves for the payment of all annuities and other benefits payable from contributions provided by the City and from which shall be paid all annuities payable as provided herein. Upon the basis of such mortality and other tables of experience and regular interest, as the Retirement Board from time to time adopts, that actuary shall annually compute the annuity reserves for annuities being paid retirants and beneficiaries and covering service rendered and to be rendered by members. Such annuity reserves shall be financed by annual appropriations to be made by Council, determined according to subsections (b) through (d) hereof.
(b) The appropriation for members' current service shall be a percent of their annual compensations which will produce an amount which, if paid annually by the City during their future service, will be sufficient to provide the reserves at the time of their retirements for the portions of the annuities to be paid them based upon their future service.
(c) The appropriation for members' accrued service shall be a percent of their annual compensation which will produce an amount which, if paid annually by the City over a period of years, to be determined by the Board, will amortize, at regular interest, the unfunded annuity reserves for the accrued service portions of the annuities to which they may be entitled.
(d) The appropriation for annuities being paid retirants and beneficiaries shall be a percent of the annual compensations of members which will produce an amount which, if paid annually by the City over a period of years, to be determined by the Board, will amortize, at regular interest, the unfunded annuity reserves for annuities being paid retirants and beneficiaries.
(1979 Code Sec. 2.80.270)