Boards And Commissions
Police And Fire Retirement System Board Of Trustees
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| Authority |
City Code Sec. 1.234 |
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| Purpose |
The Board supervises and manages the general administration of the retirement plan for the City's police officers and fire fighters. This involves responsibility for decisions necessary for the investment and custody of assets, selection of actuary and assumptions used and the employment of consultants. The Board of Trustees sits in review of pension questions, approves member eligibility, authorizes expenditures of System funds, conducts due diligence visits and performs a variety of operational duties. |
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| Membership |
The Board of Trustees consists of seven members. One police officer or resident of the City and one fire fighter or resident of the City serve as the two "Member Trustees" One City Commissioner serves as the "Employer Trustee". The other four members are "Citizen Trustees" who should be experienced in financial matters and may not be an official or employee of the City or a member, retirant or beneficiary of the City or a member, retirant or beneficiary of the System. |
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| Appointment |
The two "Member Trustees" are elected by the members of the System, one by the police officer members and one by the fire fighter members. The "Employer Trustee"is appointed by the City Commission. Of the four "Citizen Trustees", one is appointed by the Mayor and two by the City Commission. The fourth is appointed by the City Commission from a list of not less than four eligible persons submitted jointly by the police officer members and the fire fighter members. |
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| Term |
The term for Member and Citizen Trustees is four years. The Employer Trustee is appointed annually. |
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| Meetings |
The Board meets in the Retirement System Offices located at 233 E. Fulton for regular meetings ten times a year. Meeting time is subject to call. Current Annual Meeting Schedule. |
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| Compensation |
$75.00 for Special and Subcommittee Meetings for trustees who are not full-time employees of the City or elected officials. All members are reimbursed for any necessary expenses. |
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| City Staff |
Peggy Korzen, Executive Director, 456-4300 |
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Revised: 22-MAR-11
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