The Township shall employ an actuary at a compensation to be determined from time to time by the Board of Township Commissioners. The actuary shall determine the present value of the liability for pensions payable under §§ 45-7, 45-8 and 45-9 of this article to police officers for service prior to the effective date of this article. The unfunded liability shall be paid by the Township over a period not to exceed 25 years, except that the value of any assets transferred to the fund from previous pension funds heretofore established shall be used toward the payment of such unfunded liability. The actuary shall also determine the amount which shall be contributed annually into the fund for the service of police officers subsequent to the establishment of this Police Pension Fund, such payments to be known as "future service costs."
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