June 1999 3. The superintendent submits the actuarial contract to the Board of Trustees for final approval. July 1999 4. The business manager notifies the payroll director so that the rates may be adjusted to reflect the annual reduction. Based on the amount of the fund balance and the projected premiums to the Workers' Compensation Fund for 1998-99, the district can withhold the estimated annual premiums for the next five year.
Actual savings are dependent on the premiums needed to maintain appropriate cash reserves.