A. A police pension fund is continued for the city to be administered by a board of trustees pursuant to Indiana Code, 36-8-6-1 et seq., as to the 1925 fund, and Indiana Code, 36-8-8-1 et seq., as to the 1977 fund.
B. The board of trustees of the police pension fund of the city shall be comprised of seven members: the mayor, the city controller and the chief of police, who shall be ex officio members of the board, or retired member of the police department of the city, if there is one, and the remaining members shall be active members of the police department of the city. The mayor shall be the presiding officer to oversee the transactions of official business, the city controller shall be the treasurer, and a secretary shall be selected from the members.
C. The duties, powers and responsibilities of the board of trustees of the police pension fund shall be those provided by law.
D. Sworn police officers hired by the city under any pension play before the 1977 fund converted to the 1977 fund shall have the same enrollment requirements and drop benefits as sworn police officers hired under the 1977 fund. (Prior code § 7-33) (Ord. 33-2023, 2023; Ord. 05-16, 2005)