(a) In the case of each Tier 6 member with a date of membership on or after April 1, 2012 employed by an employer, it shall be the duty of the employer, during each of the first three plan years of such member's membership, to project the annual wages of such member to be paid by such employer during a plan year for the purposes of determining the rate at which such member shall contribute to the system from the wages paid by such employer to such member during such plan year.

(b) Each such projection shall be made in good faith based upon the actual terms of the employment contract, agreement or understanding between the employer and the member.

(c) Each such projection shall be made at the beginning of the plan year or, if later, at the time the member is employed during the plan year; when making a projection, an employer shall take into account only the wagers which the employer anticipates in good faith, at the time the projection is made, it will pay to the member during such plan year.

(d) All projections required under this section shall be maintained by the employer in the member's permanent employment records. The employer shall furnish such projections to the system as the system shall require.

(e) The system reserves the right to audit employer projections and to adjust projections not complying with this section as determined by the system. The system also reserves the right to adjust employer projections to take into account the employment of members by multiple employers during a plan year in such manner as the system shall determine.