Employees General Retirement

Folder Employees General Retirement System Board Trustees

There is created a board of trustees in whom is vested the general administration, management and responsibility for the proper operation of the retirement system and for making effective this article. The board of trustees shall consist of seven trustees appointed and elected in the following manner:
  1. One trustee shall be appointed by the mayor. This trustee shall be an elector of the city.
  2. One trustee shall be appointed by the city council. This trustee shall be an elector of the city.
  3. Four trustees shall be appointed, one from each group; management, AFSCME Local, IAFF Local, and PBA. The appointee must be an active member of the retirement system or of the deferred retirement option program (DROP). Term of office for each trustee so elected shall be for a two-year period, and the trustee shall be voted into office and elected as determined by each group.
  4. The seventh trustee shall be elected from the membership by majority vote by the trustees appointed pursuant to subsections (a)(1) through (3) of this section as soon as practicable after their appointment. This appointee shall be an elector of the city. The trustee so appointed shall serve for two years.
  5. All appointments shall be made on the second Tuesday in December, and the appointed trustees shall take office on the following January 1.
  6. The even members of the board shall serve for a period of two years.
Each trustee shall, immediately after the trustee's appointment or election, take an oath of office to be administered by the city clerk or notary public.

If a vacancy occurs in the office of a member of the board of trustees, the vacancy shall be filled within 30 days after the date of the vacancy for the unexpired term in the same manner as the vacated trustee was originally elected or appointed.

The board of trustees shall hold regular meetings at least once each quarter year and shall designate the time and place thereof by written notice to the members of the retirement system.

The board shall adopt its own rules of procedure and shall keep a record of all of its proceedings.

All meetings of the board shall be public, and members of the board shall serve without compensation for their services as trustees.

Four trustees shall constitute a quorum at any meeting of the board of trustees. Each trustee shall be entitled to one vote in the meetings of the board. At least four concurring votes shall be necessary for a decision by the trustees.

The city council shall have the right to dismiss any member of the board by a five-sevenths vote, after a public hearing, such trustee having failed to comply with any of the stipulations of this article or any city ordinance involving moral turpitude.

The board of trustees shall elect from its members a chairman and vice-chairman and shall designate a person to act as secretary of the retirement system.

The city treasurer shall be treasurer of the retirement system and the custodian of its funds. All payments from the funds of the retirement system shall be made only upon evidence of a motion adopted by the board authorizing such payments. All vouchers and checks shall be signed by the treasurer and a trustee designated by the board.

The city attorney or his designee shall be the legal advisor to the board and shall represent the board in any and all matters pertaining to this retirement system, except in such cases as the board of trustees may deem it advisable to employ other legal service.

The board may appoint an actuary who shall be the technical advisor to the board on matters regarding the operation of the retirement system and who shall perform such other duties as are required in connection therewith.