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(a) The board shall elect from its own members a chairperson and a chairperson pro tem.
(b) The director of human resources shall serve as the administrative officer to the board of trustees and shall transact all business of the retirement system except for the accounting and investment activities which shall be delegated to the city finance director.
(c) The city finance director shall be treasurer of the retirement system and shall administer the accounting and investment activities of the retirement system as well as be custodian of all the assets except those placed with a funding agent or investment counsel as provided in § 39.255.
(d) The city attorney shall be legal advisor to the board.
(e) The board shall appoint an actuary who shall be the technical advisor to the board on matters regarding the operation of the retirement system. He or she shall perform those other duties as are required of him or her under this subchapter.
(f) The board shall appoint as medical director a physician who is neither a retirant nor beneficiary of the retirement system. The medical director shall be responsible to and shall serve at the pleasure of the board. He or she shall arrange for and pass upon all medical examinations required under this subchapter; he or she shall investigate all essential statements and certificates of a medical nature furnished by or on behalf of a member, retirant or beneficiary in connection with a claim for disability or service-connected death benefits; and he or she shall report in writing to the board his or her conclusions on medical matters referred to him or her by the board.
(g) The board may employ professional and other services as are required for the proper operation of the retirement system.
(h) The board shall have power to select and employ a funding agent or engage in contract for investment counsel and advice as provided in § 39.255.
(i) The board of trustees, by resolution, may appoint an administrator and hire additional employees as may be required to transact the business of the retirement system. The board of trustees shall require bonding of the administrator in an amount set by the board of trustees, which may be included under any city employee's blanket bond. The bond premium may be paid by the retirement system.
(j) The administrator shall make available to any member of the retirement system and to any beneficiary of the retirement system a summary retirement system description. The summary retirement system description shall be written in a manner to be understood by the average member of the retirement system and shall be sufficiently accurate and comprehensive to apprise participants and beneficiaries of their rights and obligations under the retirement system. The summary retirement system description shall include:
(1) The name and address of the administrator;
(2) Names, titles and addresses of any trustee or trustees;
(3) A description of the relevant provisions of any applicable collective bargaining agreement;
(4) The retirement system's requirements respecting eligibility for participation and benefits;
(5) A description of provisions providing for nonforfeitable pension benefits;
(6) Circumstances which may result in disqualification, ineligibility or denial or loss of benefits;
(7) The source of financing of the retirement system and the identity of any organization through which benefits are provided;
(8) The date of the end of the retirement system year and whether the records of the retirement system are kept on a calendar, policy or fiscal year basis; and
(9) The procedures to be followed in presenting claims for benefits under the retirement system and the remedies available under the retirement system for the redress of claims which are denied in whole or in part.
(k) The administrator shall, upon written request of any participant or beneficiary, furnish a copy of the latest updated summary retirement system description, the latest annual report and any bargaining agreement, trust agreement, contract or other instrument under which the retirement system is established or operated. The administrator may make a reasonable charge to cover the cost of furnishing complete copies.
(l) The administrator shall annually furnish to each retirement system member or beneficiary a statement showing, on the basis of the latest available information, the member's or beneficiary's accumulated contributions, if any, total benefits accrued and nonforfeitable benefits, if any, which have accrued or the earliest date on which the benefits will become nonforfeitable.
(1957 Rev. Ords., § 2.508; 1992 Code, § 35-17) (Ord. 2650, passed 11-17-1969; Ord. 2695, passed 7-27-1970; Ord. 108-85, passed 12-2-1985; Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)