Section 27-210-55-104 - Financing the Excess Benefit Arrangement1. The arrangements at all times shall be entirely unfunded and no provision shall at any time be made with respect to segregating any assets of any of the systems for payment of benefits hereunder.2. The Board, in accordance with the recommendation of the actuary, shall determine the required employer contributions for each of the four (4) excess benefit arrangements to pay benefits each calendar year. The required contribution for each of the four (4) excess benefit arrangements respectively in each calendar year shall be the total amount of benefits payable under this excess benefit arrangement to all participants in each system plus the amount required to pay the administrative expenses of the excess benefit arrangement and the employer's share of any employment taxes on the benefits paid from the arrangement, where applicable.3. The required contributions for the payment of said excess benefits shall be paid by the participating employers from an allocation of the employer contribution amount calculated by the actuary to fund the benefit prescribed by law without regard to the limitation.4. The required contribution for each arrangement shall be deposited into the separate account for each arrangement. Each excess benefit arrangement is intended to be exempt from federal income tax under Internal Revenue Code Sections Section 115 and Section 415(m)(1).5. The benefit liability of each arrangement shall be determined on a calendar year basis, and contributions shall not be accumulated to pay benefits in future calendar years. Any assets of the arrangements not used to pay benefits in the current calendar year shall be used for payment of the administrative expenses of the excess benefit arrangement for the current or future calendar years or shall be paid to the appropriate retirement system as an additional employer contribution.27 Miss. Code. R. 210-55-104