§ 2.40.220. Management.

The Retirement Board shall have all powers necessary to effect the management and administration of the Plan in accordance with its terms, including but not limited to, the following:

(1)

To establish rules and regulations for the administration of the Plan, for managing and discharging the duties of the Board, for the Board's own government and procedure in so doing, and for the preservation and protection of the trust fund;

(2)

To interpret the provisions of the Plan and to determine any and all questions arising under the Plan or in connection with the administration thereof. A record of such action and all other matters properly coming before the Board shall be kept and preserved;

(3)

To determine the amount of the member's contributions to be withheld by the City in accordance with the Plan and to maintain such records of accumulated contributions are as necessary under the Plan;

(4)

To determine all consideration affecting the eligibility of any employee to be or become a member of the Plan;

(5)

To determine the credited service of any member and to compute the amount of retirement benefit or other sum, payable under the Plan to any person.

(6)

To authorize and direct all disbursements of retirement benefits and other sums under the Plan; and

(7)

To serve as Trustee under the Plan.

(Ord. 763(part), 1978; Ord. 672 Art. 7, §1, 1973)