§ 2.40.250. Duties of Trustee.

The duties of the Trustee shall include but not be limited to the following:

(1)

It shall receive from the City the City's contribution to the trust fund established in this Chapter;

(2)

It shall receive all of the income from the trust fund;

(3)

It shall pay out of the trust fund, upon written instructions from the Retirement Board, the funds required for payments under the Plan;

(4)

It shall invest and reinvest the corpus and income of the trust fund subject to the requirements of the Plan, as directed by the Retirement Board and set forth in the trust agreement;

(5)

It shall maintain such records and accounts of the trust fund and shall render such financial statements and reports thereof as may be required from time to time by the Retirement Board.

(Ord. 672 Art. 7, §5, 1973)