[Amended 1-25-2021 by Ord. No. 6-2021; 5-19-2020 by Referendum]
The Council of the City of Reading hereby reconstitutes an Officers and Employees Retirement Board which shall consist of the following:
A. The Officers and Employees Retirement Board which has heretofore been created shall henceforth consist of the Mayor or his/her designee, the City Auditor, the Finance Department Director, two employees to be chosen by the employees contributing to the retirement fund and a retired City employee who shall be appointed by the Mayor subject to confirmation by City Council.
B. When any of the following are unavailable: the Mayor, City Auditor orFinance Director, then the City Auditor or Finance Director shall in writing appoint a designee to act in his/her place for such period or periods as shall be necessary with the approval of the Board. In the event that one or more of the foregoing offices are vacant, then the acting City Auditor or acting Finance Department Director shall serve on the Board until the applicable office is no longer vacant.
C. The representatives elected by the employees shall be elected for the term to run concurrently with the term of the Mayor, and shall be from two different departments of the City government.
D. Members of the Board shall serve for the term for which they are elected and until their successors are elected.
E. The members of the Board shall serve without compensation, but shall be reimbursed for any necessary expenditures.
F. It shall be the duty of said Board to register all persons employed by the City other than firemen or policemen and to administer the collection, investment and distribution of the fund herein provided for, and make such reasonable rules in the premises as said Board may deem necessary for its efficient organization, and to carry into effect the provisions of this part.
G. The Board shall keep a complete set of books showing all of its transactions, and a complete record of all its proceedings, which shall be open to inspection by any employee contributing to the fund and to the public.
H. All payments of compensation made under the provisions of this part shall be made by check only, signed in such manner as may be fixed by the rules of the Board.