responsibilities. All state agencies, departments, institutions, and divisions shall provide the information and data the advisory board requires. The Board of Economic Advisors is considered a public body for purposes of the Freedom of Information Act, pursuant to Section 30420(a).” SECTION 11. Sections 119825 and 119830 of the 1976 Code are amended to read: “Section 119825. The staff of the Board of Economic Advisors must be supplemented by the following officials who each shall designate one professional from their individual staffs to assist the BEA staff on a regular basis: the Governor, the Chairman of the House Ways and Means Committee, the Chairman of the Senate Finance Committee, and the State Department of Revenue Chairman, and the Director of the Budget Division of the Budget and Control Board. The BEA staff shall meet monthly with these designees in order to solicit their input. Section 119830. In order to provide a more effective system of providing advice to the Budget and Control Board Governor and the General Assembly on economic trends, the Board of Economic Advisors shall: (1) compile and maintain in a unified, concise, and orderly form information about total revenues and expenditures which involve the funding of state government operations, revenues received by the State which comprise general revenue sources of all receipts to include amounts borrowed, federal grants, earnings, and the various activities accounted for in other funds; (2) continuously review and evaluate total revenues and expenditures to determine the extent to which they meet fiscal plan forecasts/projections; (3) evaluate federal revenues in terms of impact on state programs; (4) compile economic, social, and demographic data for use in the publishing of economic scenarios for incorporation into the development of the state budget; (5) bring to the attention of the Governor and the General Assembly the effectiveness, or lack thereof, of the economic trends and the impact on statewide policies and priorities; (6) establish liaison with the Congressional Budget Office and the Office of Management and Budget at the national level.”
(2) ‘Accumulated contributions’ means the sum of all the amounts deducted from the compensation of a member and credited to the member’ s individual account in the employee annuity savings fund, together with regular interest on the account, as provided in this chapter. (3) Active member’ means a member who is compensated by an employer participating in the system and who is making regular retirement contributions to the system. (4) ‘Actuarial equivalent’ means a benefit of equal value when computed on the basis of the tables and regular interest rate last adopted by the board authority, as provided in Section 9–11–30. (5) ‘Aggregate additional contributions’ means the sum of all the contributions made by a member pursuant to Section 9–11–210 in effect before July 1, 1974, and any amounts transferred from another fund which are treated as additional contributions pursuant to Section 9–11–210 in effect before July 1, 1974, or Section as amended as of that date. (6) ‘Aggregate contributions’ means the sum of all the amounts deducted from the compensation of a member and credited to the member’s individual account in the system, including any amounts transferred from another fund to the system as provided in Section 9–11–210(6). (7) ‘Average final compensation after July 1, 1986’ means the average annual compensation of a member during the twelve consecutive quarters of the member’s creditable service on which regular contributions as a member were made to the system producing the highest average; a quarter means a period January through March, April through June, July through September, or October through December. An amount up to and including days’ termination pay for unused annual leave at retirement may be added to the average final compensation. Average final compensation for an elected official may be calculated as the average annual earnable compensation for the thirty–six consecutive months prior to the expiration of his term of office. (8) ‘Beneficiary’ means a person in receipt of a retirement allowance or other benefit provided by the system. (9) ‘Board’ ‘Department’ means the State Budget and Control Board Department of Administration acting through its Division of Retirement Systems Division. (9A) ‘Authority’ means the State Contracts and Accountability Authority. (10) ‘Class one service’ means credited service which is not class two service.