The total liability, as determined by the actuary, of this system shall be funded as follows:
(1) Every judge shall have deducted from his or her monthly salary an amount equal to seven and one-half percent of said salary.
(2) The state as employer shall contribute an equal amount on a quarterly basis.
(3) The state shall in addition guarantee the solvency of said fund and the legislature shall make biennial appropriations from the general fund of amounts sufficient to guarantee the making of retirement payments as herein provided for if the money in the judicial retirement fund shall become insufficient for that purpose, but such biennial appropriation may be conditioned that sums appropriated may not be expended unless the money in the judicial retirement fund shall become insufficient to meet the retirement payments.