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Section 2-187 Pension Board of Trustees, Defined Benefit -- established, composition, terms, officers.
(a) There is hereby established, to serve without pay, a Pension Board of Trustees of the City whose duties shall be to manage all funds paid into the Plan, which shall be kept by the City treasurer as a separate fund covered by his bond as such. The Pension Board of Trustees shall consist of the Mayor, one (1) Councilmember appointed by the Mayor, the City Manager, the Superintendent of the Utilities department, the City treasurer, and four (4) other employees of the City to be elected from, among and by the employees who are in the act of service of the City who are contributing to the defined benefit plan. Of the elected members, one (1) shall be elected by and from the member employees of the general government, one (1) by the member employees of the utilities department, and two (2) at-large of which all member employees of the City may vote on. In the event the office of the city manager shall become vacant, the person designated as assistant city manager shall serve on the pension board of trustees in the place of the city manager until a city manager shall be named. In the event the office of the Superintendent of the Utilities department shall become vacant, the person designated as Assistant Superintendent of the Utilities department shall serve on the Pension Board of Trustees in the place of the Superintendent until a Superintendent has been named. (b) On the first Monday of each June, the employees making contributions to the defined benefit plan at the time of the election shall vote upon a successor to such trustee whose term expires on the following first day of July. The member receiving a majority of votes shall be elected for a term of four (4) years, or until his successor is elected; provided, however, if no member receives a majority of votes on the first ballot, a run-off will be held on the third Monday of each June between the two (2) members receiving the greatest number of votes in the first ballot, and the member who receives the majority of votes in the run-off shall be the elected member. The Mayor, the City Council member, City Manager, City treasurer and the Superintendent of the Utilities department shall be permanent members of the board and the term of each individual shall coincide with his term of office with the City. In the event of a vacancy among the elected trustees caused by the death, resignation or discontinuance of employment by the City or otherwise, the remaining trustees are authorized to elect a successor to serve the unexpired term of the trustee whose office has thus been vacated. (c) The officers of the Pension Board of Trustees shall be a Chairman, vice-Chairman (who will serve when the chairman is absent), and a Secretary. The officers shall be elected by the Pension Board of Trustees at the first regularly scheduled meeting of the Board following the election of the Trustees as descrbed in paragraph (b)of section 2-187. All officers shall hold office until the meeting of the Pension Board of Trustees following the next election of the Board of Trustees as described in paragraph (b) of section 2-187 and until their successors shall have been elected. Should any officer elected hereunder resign or fail to serve as such officer for any reason, then and in that event, the Pension Board of Trustees shall hold a special meeting in which to elect to fill the vacancy of such officer. (d) A majority of the board shall control on all questions. The board shall make its own rules as to times and places of meeting, and shall prescribe its rules and regulations for the administration of funds not inconsistent with provisions of this division and the Charter. (Ord. of 12-23-96(1), I; Ord. of 10-12-98 IV; Ord. of 9-13-99; Ord of 2-26-01; Ord of 11-12-01; TQM Code update 10-11-04)
(TQM Code Update - Ch2, Amended, 10/11/2004, Prior Text; 2001 (2-187), Amended, 11/12/2001, Prior Text; 2001 (2-187), Amended, 02/26/2001, Prior Text; 1999 (2-187), Amended, 09/13/1999, Prior Text) |
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