A. The Board of Trustees shall annually appoint an actuary or firm of actuaries to complete such reports and provide such advice as are necessary for the proper administration of the Aggregated Pension Trust Fund.
B. An actuarial valuation of assets shall be annually prepared pursuant to the provisions of the Municipal Pension Plan Funding Standard and Recovery Act, Act 1984-205, as amended, and any applicable rules and regulations issued by the Public Employee Retirement Study Commission.
C. An actuarial valuation of the plan shall be prepared pursuant to the provisions of the Municipal Pension Plan Funding and Standard Recovery Act and any applicable rules and regulations issued by the Public Employee Retirement Study Commission.
D. An annual audit shall be made by a certified public accountant or firm of certified public accountants appointed by Board of Trustees. For accounting purposes, the audit shall include a calculation of the value of participation by each plan.
E. The accrual basis of accounting shall be used in conformance with generally accepted accounting principles for the Aggregated Pension Trust Fund.
F. Value of participation by each plan to the Aggregated Pension Trust Fund shall be calculated annually in accordance with the requirement of the Municipal Pension Plan Funding Standard and Recovery Act, Act 1984-205, Section 607 (b)(1).