Sec. 22-61(a). Membership. The Deferred Compensation Plan Management Board shall consist of the following seven (7) members, subject to the qualification requirements set forth in Section 22-61(b) below:
(1) A member appointed by the City Manager;
(2) The City's Finance Director;
(3) The City's Human Resources Director;
(4) Two (2) active City employees who are contributing to or holding an account in a DC Plan, nominated and elected by the active DC Plan Participants, in a manner determined by the Board; and
(5) Two (2) former City employees who hold an account in a DC Plan, nominated and elected by the inactive DC Plan Participants who hold accounts, in a manner determined by the Board.
Both the City's Finance Director and the City's Human Resources Director shall have the authority to delegate their Board position to a senior level management employee of the City with experience in the applicable area of finance or human resources and who is expected to serve as a long-term voting member of the Board.
Sec. 22-61(b). Qualifications. The Board member appointed by the City Manager shall be a resident of Pima County and may be a local citizen or an employee of the City, including the City's Pension and Benefits Administrator, as determined by the City Manager in their discretion. The candidates for the City Manager's appointee and the elected employee and former employee positions shall have relevant secondary education or employment experience in the areas of business administration, finance, accounting, human resources, investments, law, procurement, management or retirement administration.
Sec. 22-61(c). City Requirements for Boards. The Board shall be exempt from all provisions of section 10A-134 of the Tucson Code.
Sec. 22-61(d). Term of Office. The City Manager's appointee to the Board shall serve at the pleasure of the City Manager and without a specified term, subject to the Board member's ability to resign from the position with ninety (90) days' notice to the Board and the City Manager. Effective with regard to elections held after the enactment of this provision, the term of office of individual Board members who are nominated and elected by DC Plan Participants shall be four (4) years and such members shall serve no more than two (2) consecutive terms on the Board (non-consecutive terms are permitted). The Directors of Finance and Human Resources, or their delegates, shall be standing members of the Board and not subject to specified terms.
Sec. 22-61(e). Chairperson of the Board. The Board shall elect a chairperson from among the Board membership, who shall serve as chairperson for a term of three (3) years, subject to Section 22-61(d) above. The Board shall elect a successor chairperson from time to time as necessary, and it is expected that the chairperson position shall rotate among Board members.
Sec. 22-61(f). Compensation. The City Manager's appointee to the Board shall serve without compensation. Employees of the City who serve on the Board shall receive no additional compensation for their Board service. All Board members shall be reimbursed for expenses incurred by them in the performance of their Board duties.
(Ord. 11937, § 1, 7-12-22)