The accumulated fund of this plan shall be administered by a Committee whose membership shall be identical in number and identity, at any point in time, with the members serving on the Treasury Investment Committee, as provided in Ohio R.C. 731.56 et seq., as amended. The responsibilities and authority of the Committee shall be:
(a) To oversee and administer the investment of moneys in the accumulated fund in a manner reasonably calculated to accomplish the intent and purposes of the agreement between the employer and the participant, including, but not limited to, purchase of annuity contracts on behalf of the City;
(b) To coordinate activities with the organization which is to be selected by the Committee to handle the variable annuity program to be used to implement the functioning of the plan;
(c) To function as a "watchdog committee" making such review and analysis, at such reasonable intervals, as may be required to satisfy the Committee that the plan is being operated in a manner reasonably calculated to accomplish its objectives, or to recommend to the City corrective measures which may be indicated;
(d) In making judgments required of the Committee in the administration of the plan, the Committee's decisions shall be made in an even-handed manner treating all persons, in similar circumstances alike. (Ord. 60-1973. Passed 6-12-73.)