§ 2.05.506. Employees Retirement System Board of Trustees—Officers and their duties.

The Employees' Retirement System Board of Trustees shall have the following officers whose duties shall be prescribed by bylaws to be adopted by the Board as part of its rules and regulations:

A.

A Chairperson shall be appointed as provided in Subsection 2.05.505.A.4.d and a Vice-chairperson shall be elected from its members.

B.

The Administrative Manager of the pension program shall be the Chief Human Resources Officer.

C.

The Chief Financial Officer shall be Treasurer of the program and shall have custody of its monies and securities. All expenditures by the program shall be made by the Treasurer upon authorization of the Board. Nothing in this subsection shall be construed to prohibit the Board from entering into an agency agreement which requires the agent to adhere to the investment policy set by the Board; to report to the Board any order to sell or purchase any security, investment or other property of the fund; and to deliver to the Board any property of the fund held by it without prior notice when instructed to do so.

D.

The County Attorney shall be Legal Counsel to the Board and shall represent the Board in all litigation affecting the program.

E.

An Actuary shall be appointed to serve as technical advisor in the administration of the system on matters pertaining to the technical and actuarial aspects thereof.

(Ord. No. 98-050, § 2(2-166), 5-26-1998; Ord. No. 10-113, § 1(Exh. A), 1-18-2011; Ord. No. 11-085, § 1, 9-13-2011)