246.26.1. The Government shall determine, by regulation, at intervals of not less than three years, the rate of contribution of the municipalities to the pension plan provided for in Part VI, which is based on the plan’s experience and obtained at the time of the last actuarial valuation. Such regulation may have effect from 1 January of the year in which it is adopted.
Each municipality shall pay its contribution according to the rules, terms and conditions of payment which the Government determines by regulation. Such rules may fix the interest payable on late payments.
1991, c. 79, s. 28; 1997, c. 7, s. 46; 1997, c. 7, s. 63.