ARTICLE XIV: RETIREMENT SYSTEM
SECTION 14.01 ESTABLISHMENT.
   The Council shall, by ordinance, establish and maintain a retirement system to provide for the retirement of officers and employees of the city who become superannuated or totally and permanently disabled; said retirement system to become effective April 1, 1955. The objective of the retirement system is to create a sound and efficient means of providing pensions, in addition to social security benefits, for the officers and employees of the city to the end that economy and efficiency in public service may be effected and an orderly method of retirement be provided without hardship and prejudice to employees who have become superannuated or incapacitated. The terms and conditions of the ordinance shall be within the discretion of the Council, except as provided in this chapter.
SECTION 14.02 BOARD OF TRUSTEES.
   The retirement system shall be administered by a Board of Trustees, hereinafter called the Board, which shall consist of five trustees. Two such trustees shall be elected officials of the city; two trustees shall be employees of the city to be elected by the participating employees; and one such trustee shall be a resident and taxpayer of the city, who is not eligible to participate in the retirement system, to be appointed by the Mayor, by and with the consent of the Council.
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