(a) The Plan shall be administered by the General Manager of the Personnel Department, provided, however, that said General Manager may contract with one or more private firms for services related to the Plan. Contractor fees shall be reimbursed from earnings of the Plan and paid from the earnings of the participant’s account. The administrator shall be responsible for preparation and delivery to the Council and to Plan participants, of annual reports concerning the administration and financial condition of the Plan.
(b) The Pension Savings Plan Advisory Committee, which shall consist of the members set forth in Section 4.1407 of the Los Angeles Administrative Code, shall provide advice to the General Manager of the Personnel Department regarding the administration of the Plan and regarding the methods of distribution of benefits.
SECTION HISTORY
Added by Ord. No. 169,047, Eff. 10-23-93.
Amended by: In Entirety, Ord. No. 170,512, Eff. 6-10-95.