HI SB133

Requires the EUTF actuary to prepare annual valuations of the fund's assets and liabilities beginning July 1, 2017, with assumptions updates at least once every three years.

Reduces the maximum period between experience studies of the employees' retirement system (ERS) from five years to three years, with the first study due in fiscal year 2018-2019.

Directs the ERS actuary to recommend mortality, service, and other assumptions, factors, and tables to the board of trustees based on more frequent actuarial investigations of system experience.

Addresses growing state and county pension and health insurance liabilities by requiring more frequent monitoring of the ERS and EUTF to improve budgetary planning.