(A) All funds and securities of the system may be commingled in the Fund, provided accurate records are maintained at all times reflecting the financial composition of the Fund, including accurate current accounts and entries as regards the following:
(1) Current amounts of accumulated contributions of employees on both an individual and aggregate account basis;
(2) Receipts and disbursements;
(3) Payments to retirees;
(4) Current amounts clearly reflecting all monies, funds, and assets whatsoever attributable to contributions and deposits from the city, including a valuation of all of them, as well as other assets of the fund on a market value basis;
(5) All interest, dividends, and gains (or losses) whatsoever; and
(6) Any other entries as may be properly required so as reflect a clear and complete financial report of the Fund.
(`69 Code, § 5-171) (Am. Ord. 1353, passed 9-20-00)
(B) Upon request, and as specified in the request by the Board, the Finance Department shall maintain any or all records and data necessary for the proper administration of this system, and shall make the records and data available to the Board of Trustees. The records shall include, but not necessarily be limited to the following list and any other similar items necessary for proper administration of the system:
(1) Deduct employee contributions, and transmit funds to the Board each pay period.
(2) Maintain employee contributions accounts; determine interest to be credited annually as per trustees’ instructions.
(3) Receive and retain one copy of each form of application for participation, and beneficiary designation form.
(4) For terminating participants:
(a) Notify Board as to the amount of contribution refund due.
(b) Note the date of termination on the original application form and retain this in a separate file.
(5) For pending retirements, complete basic data form, including determination of average monthly earnings.
(6) Prepare annually employee data needed for actuarial valuation.
(7) Transmit city and state contributions to the Board.
(`69 Code, § 5-182) (Ord. 557, passed 2-19-81; Am. Ord. 1353, passed 9-20-00; Am. Ord. 1480, passed 3-17-04)