(A) The trust established in this chapter shall be irrevocable and shall conform to all applicable sections of the Internal Revenue Code, the statement of purpose in § 33.01 of this chapter, and all statutes, ordinances, rules, regulations, arbitrators' awards and judicial decisions interpreting the foregoing provisions.
(B) The trust shall consist of city contributions, any contributions which may be paid by participants and beneficiaries due to the election of additional coverage than that provided by the city, all investments made or held under trust, and all income therefrom, both received and accrued, and any other property, which may be received or held by reason of the trust.
(Ord. 08-03, passed 9-4-2008)