Such allocation reports shall be prepared and
filed under the supervision of the Chief Administrative Officer. The
Chief Administrative Officer shall determine the financial requirements
of the plan on the basis of the most recent allocation report and
shall determine the minimum obligation of the employer with respect
to funding the plan for any given plan year. The Chief Administrative
Officer shall submit the financial requirements of the plan and the
minimum obligation of the employer to the governing body of the employer
annually and shall certify the accuracy of such calculations and their
conformance with the Act.
Prior to the adoption of any benefit plan modification
by the employer, the Chief Administrative Officer of the plan shall
provide to the employer a cost estimate of the proposed benefit plan
modification. Such estimate shall be prepared by a qualified person
as defined in the Act, which estimate shall disclose to the employer
the impact of the proposed benefit plan modification on the future
financial requirements of the plan and the future minimum obligation
of the employer with respect to the plan.