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DUTIES & RESPONSIBILITIES
There is hereby created a board of trustees of the city police officers' pension fund which shall be solely responsible for administering the pension fund. The board of trustees shall meet at least quarterly each year. Each board of trustees shall be a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature and description, and shall be independent of the city to the extent required to accomplish the intent, requirements and responsibilities provided for in this article. The board shall consist of five (5) trustees as follows:
(1) Two (2) legal residents of the city, shall be appointed by the city council. Each resident member shall serve as a trustee for a period of two (2) years, unless sooner replaced by the city council, at whose pleasure each member shall serve. Each resident member may succeed himself as a trustee.
(2) Two (2) members of the city police officers' pension fund, who shall be elected by a majority of the members of the city police officers' pension fund. Elections shall be held under such rules and regulations as the board of trustees shall, from time to time, adopt. Each member shall serve as a trustee for a period of two (2) years, unless he sooner ceases to be a police officer in the employ of the city police department, whereupon his successor shall be elected by a majority of the members of the city police officers' pension fund. When the fund's active police officer membership falls below ten (10) members and is closed to new members, the city council may elect an individual who is also a legal resident of the city, to serve in the active police officer member seat.
(3) A fifth member shall be chosen by the majority of the other four (4) members. This fifth member's name shall be submitted to the city council, who shall, as a ministerial duty, appoint such person to the board as a fifth member. The fifth member shall serve as trustee for a period of two (2) years and he may succeed himself as a trustee.
(Ord. No. 216, § 1, 6-20-90; Ord. No. 365, § 3, 1-19-05)
Members are required to file a financial disclosure form with the State each year.
Please email email@example.com to request a copy of the Actuarial Valuation as of October 1, 2017. We're in the process of formatting the document to comply with federal requirements. We apologize for any inconvenience.
|Lawrence Boger||Board Member|
|Thomas Kintz||Board Member|