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Section 2-187 Pension Board of Trustees, Defined Benefit -- established, composition, terms, officers.
Prior to the adoption of 1999 (2-187) on 09/13/1999, Section 2-187 read as follows.
(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 pension fund, 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 water and light department, the city treasurer, and four (4) other employees of the city and adopting employer to be elected from, among and by the employees who are in the act of service of the city and adopting employer and who are contributing to the pension fund. 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 water and light department, and two (2) at-large of which the named employees of the adopting employer 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 water and light department shall become vacant, the person designated as assistant superintendent of the water and light 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 of the city making contributions to the pension fund of the city at the time 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 city water and light 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.
(Ord. of 12-23-96(1), I; Ord. of 10-12-98 IV)
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