(A) It shall be the duties of the members of the Board of Trustees of the Police Pension Fund to manage, invest and control the Fund and all monies pertaining thereto in the manner provided by statute and to pay beneficiaries as provided by law.
(B) The members of the Board shall have the following additional duties and powers:
(1) To designate the beneficiaries of the Fund;
(2) To receive donations;
(3) To maintain the actuarial soundness of the Fund, including the minimum reserves as required by law;
(4) To hear and determine applications and order payments;
(5) To periodically examine disability pension claimants or recipients;
(6) To make rules;
(7) To keep records;
(8) To pay expenses;
(9) To receive funds;
(10) To report annually to the City Council on the condition of the funds, specifying the assets on hand and estimated receipts and expenditures;
(11) To serve without compensation;
(12) To annually, at the close of the municipality's fiscal year, submit to the Council a list of persons entitled to payments from the Fund;
(13) To subpoena witnesses;
(14) To appoint a clerk;
(15) To exercise such other powers and perform such other duties as required or imposed by law.
(Ord. 661, passed 7-20-83)