§ 2-70. Administration.

(1)

The general administration and responsibility for the proper administration of the general employees, retirement system is hereby vested in a board of trustees consisting of five (5) persons as follows:

(a)

General employees pension board.

1.

Two (2) citizens, who are legal residents or current employees of the city, to be appointed by the city commission by at least four (4) votes, or a unanimous vote if only three (3) commissioners are present.

2.

Two (2) general employees who are current members of the general employees pension fund, to be elected as hereinafter provided.

3.

One (1) person appointed by the city manager, who shall serve for two (2) years and may be reappointed to successive terms.

(2)

The term of office of each elected trustee shall be two (2) years.

(3)

The elective employee member trustees shall be elected in the following manner:

By vote of all actively employed members of each of said respective departments who come within the purview of this division at meetings to be held at places designated by the board, of which meetings all qualified members entitled to vote shall be notified in person or by written notice ten (10) days in advance of said meeting. The candidate receiving the highest number of votes for each office shall be declared elected and shall take office immediately upon commencement of the term of office for which elected or as soon thereafter as he shall qualify therefore. An election shall be held not more than thirty (30) and not less than ten (10) days prior to the commencements of the terms for which the trustees are to be elected. The board shall establish and administer the election procedure for each election. The board of trustees shall meet, organize and elect members as chairman, vice-chairman and secretary, at the next regularly scheduled meeting after the new employee trustees are elected and duly qualified. Such elections shall thereafter be held annually.

(4)

If a vacancy occurs in the office of trustee, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled. Should an elected member trustee no longer be a member of the general employees' fund during their term of office, they shall be allowed to serve the remainder of their term if there is more than one year remaining on the term at the time membership in the fund ceases, but they shall not be eligible for re-election. If less than one year of the term is remaining at the time membership of the trustee ceases, a new election shall be held to fill the remainder of the term. The former member shall continue to hold office until the replacement trustee is elected and seated.

(5)

The trustees shall serve without compensation, but they may be reimbursed from the fund for all necessary expenses which they may actually expend through service on the board.

(6)

Each trustee shall, within ten (10) days after his appointment or election, take an oath of office before the city clerk of the city, that he will diligently and honestly administer the affairs of the said board, and that he will not knowingly violate or willingly permit to be violated any of the provisions of the law applicable to the system. Such oath shall be subscribed to by the members and certified by the said clerk and filed in the office of the city clerk.

(7)

Each trustee shall be entitled to one (1) vote on the board. Three (3) affirmative votes shall be necessary for a decision by the trustees at any meeting of the board. The chairman shall have the right to one (1) vote only.

(8)

Subject to the limitations of this division, the board of trustees shall from time to time establish uniform rules and regulations for the administration of funds created by this division and for transaction of its business, including provisions for expulsion due to nonattendance of its members which could result in a vacancy.

(9)

The board of trustees shall engage such actuarial and other services as shall be required to transact the business of the retirement system. The compensation of all persons engaged by the board of trustees and all other expenses of the board necessary for the operation of the retirement system shall be paid as such rates and in such amounts as the board of trustees shall agree. Funds may be disbursed by the city finance department or other disbursing agent as determined by the board, but only upon written authorization by the board of trustees.

(10)

Any elected trustee who neglects the duties of his office, as determined by the board, may be removed by three (3) concurring votes of the board of trustees.

(11)

The duties and responsibilities of the board of trustees shall include, but not necessarily be limited by, the following:

(a)

To construe the provisions of the system and determine all questions arising thereunder.

(b)

To determine all questions relating to eligibility and participation.

(c)

To determine and certify amount of all retirement allowances or other benefits hereunder.

(d)

To establish uniform rules and procedures to be followed for administrative purposes, benefit applications and all matters required to administer the system.

(e)

To distribute, at regular intervals to employees, information concerning the system.

(f)

To receive and process all applications for participation and benefits.

(g)

To authorize all payments whatsoever from the fund, and to notify the disbursing agent, in writing, of approved benefit payments and other expenditures arising through operation of the system and fund.

(h)

To have performed actuarial studies and annual actuarial valuations, and make recommendations to the city council regarding changes in the provisions of the system.

(i)

To review reports of and have meetings with the custodian and investment agent or advisor; to require written reports from the custodian on fund assets and transactions on a quarterly or more frequent basis if deemed advisable by the board; to require written and oral reports from the investment agent or advisor on at least a semi-annual basis, such reports to reflect fund investment performance, investment recommendations and overall review of fund investment policies.

(j)

To perform such other duties as are specified in this division.

(12)

In the event that any claim is denied, the board of trustees shall provide a written explanation of such denial to the members involved. At the request of the member, a full and fair review of such denial shall be held at the next regularly scheduled board meeting.

(Ord. No. 77-121, § 10, 6-2-77; Ord. No. 79-150, § 3, 10-16-79; Ord. No. 79-167, § 1, 11-27-79; Ord. No. 81-162, § 1, 10-13-81; Ord. No. 83-112, § 1(10), 3-14-83; Ord. No. 84-140, § 1, 7-9-84; Ord. No. 87-127, § 1, 5-26-87; Ord. No. 94-159, § 1, 10-11-94; Ord. No. 96O-148, § 1, 10-28-96; Ord. No. 03O-06-153, § 1, 6-30-03; Ord. No. 04O-12-232, § 1, 1-10-05; Ord. No. 05O-10-196, § 1, 11-28-05; Ord. No. 07O-01-105, § 2, 2-12-07)