Section 1700.20  Basic Records and Accounts

a)         Membership Record.  Every participant shall be required to execute a Membership Record and other documents with respect to his date and place of birth, age, periods of creditable service, beneficiary, and any other such information as may be necessary for the effective operation of the System.

b)         Claims Record.  Claims received by the Board for annuities, benefits and refunds shall be properly recorded with respect to type of claim, dates approved or disapproved by the Board, amounts paid, and other essential facts.

c)         Individual Accounts.  A separate account shall be established and maintained for each individual participant, showing the amounts of contributions and other pertinent data in such form as shall be specified by the Actuary as being necessary for a complete accounting of such contributions and for required calculations and valuations.

d)         General Books of Account.  Proper books of account that will reflect accurately the income of the System from various sources, and its disbursements for the different purposes, and investments made by the Board, shall be established and maintained in accordance with recognized and modern accounting standards and techniques.

e)         Statistics.  Such other records as will provide the statistical data required for the annual actuarial valuations and make available information for periodic analyses of the operating results of the System shall be created and maintained.

f)         Confidential Nature of Records.  The information contained in the records and accounts established for the proper administration of the System, as herein provided, shall be considered of a trust and confidential nature and shall be used by any officer, trustee or employee of the System for the sole and exclusive purposes of the System, and for no other purposes whatsoever.