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FIREFIGHTERS’ PENSION FUND;
RETIREMENT BOARD
RETIREMENT BOARD
(a) There is hereby created a retirement board whose duties shall be to administer, manage and operate the Firefighter's Pension Fund and to construe and carry into effect the provisions of this subchapter, subject to those powers as are retained by the council.
(b) The pension fund is established as a qualified defined benefit plan known as the "city of Sioux Falls Firefighters' Pension Fund" as amended from time to time, pursuant to §§ 401(a) and 414(d) of the Internal Revenue Code and such other provision of the Internal Revenue Code as applicable and applicable Treasury Regulations and other guidance.
(1957 Rev. Ords., § 2.1103; 1992 Code, § 35-125) (Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)
(a) The board of trustees of the Firefighters' Pension Fund shall be composed of five trustees as follows:
(1) The mayor, or the person as the mayor shall designate to act on the mayor's behalf; and one member who may or may not be a member of the council appointed by the mayor with advice and consent of the council, to represent the council;
(2) Two members of the pension fund selected by the membership; and
(3) One resident of the city who is not an official or employee of the city and whose membership on the board of trustees creates no conflict of interest. The member shall be nominated and approved by an affirmative majority vote of the trustees selected pursuant to divisions (a)(1) and (a)(2) above.
(b) The regular term of office for the trustees selected under divisions (a)(2) and (a)(3) above shall be three years, to expire on a staggered basis. The regular term of office for the trustee member appointed by the mayor shall be four years to expire on December 31 in the year of the mayoral election.
(c) No trustee selected under divisions (a)(1) or (a)(3) above, except the mayor or their designee, shall serve more than two consecutive full terms of office.
(1957 Rev. Ords., § 2.1103; 1992 Code, § 35-126) (Ord. 108-85, passed 12-2-1985; Ord. 67-94, passed 7-25-1994; Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)
Each member of the retirement board shall, within ten days after his or her appointment or election, as the case may be, take an oath of office before the city finance director for the faithful performance of his or her duties.
(1957 Rev. Ords., § 2.1103; 1992 Code, § 35-127)
(a) If a member of the retirement board shall cease to be a firefighter in the employ of the city, or should any appointed trustee, not serving as the mayor, or the citizen trustee fail to attend scheduled meetings of the board for three consecutive meetings, unless in each case excused for cause by the remaining trustees attending the meeting, the trustee shall be considered to have resigned from board membership and the board shall by resolution declare the office vacated as of the date of adoption of the resolution. Any vacancy occurring in the office of trustee shall be filled within 90 days from and after the date the vacancy occurs, for the unexpired term, in the same manner as the office was previously filled.
(b) Except for the mayor, if a member of the retirement board is unable to attend two consecutive meetings because of a leave of absence from duties, the remaining board members by unanimous vote may appoint a temporary replacement eligible in accordance with § 39.356. The appointment is effective until the term expires or the board member returns.
(1957 Rev. Ords., § 2.1104; 1992 Code, § 35-128) (Ord. 34-91, passed 4-8-1991; Ord. 36-95, passed 3-6-1995)
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