ARTICLE V. - FIREMEN'S AND POLICEMEN'S PENSION FUND

Part of the Code of Ordinances of East Providence, RI.

Local law · 2,200 sections

The text

Footnotes:

--- (5) --- Editor's note— Chapter 357 of the city's ordinances, from which this article derives, became effective on November 1, 1961. It should be noted, however, that certain persons still have accrued pension rights under the city's former pension provisions, consisting of Chapter 42, as amended to Chapter 108 and Chapter 299. While these ordinances are not set out in this volume, they have been saved from repeal by the adopting ordinance to this Revision, and will be found on file in the office of the city clerk.

Charter reference— Department of police, §§ 7-1—7-3; fire department, §§ 8-1—8-3.

Cross reference— Fire prevention, ch. 5; police, ch. 12.

State Law reference— Relief of injured and deceased firefighters and police officers, G.L. 1956, §§ 45-19-1—45-19-18.

Sec. 11-231. - Definitions.#

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Act of duty means an act performed by a member within the scope of occupational duties inherently involving special risks not generally assumed by a citizen in the ordinary walks of life, for the purpose of protecting life or property regardless of time or place, including any act of heroism as a member.

Actuarial tables means such tables of mortality and rates of interest as shall be adopted by the board upon recommendation of the actuary employed by the board.

Board means the board of trustees of the city police officers's and firefighter's retirement system.

City means the municipal government of the city.

Credited service means the sum of prior service and membership service for which a member has received credit under the provisions of this article.

Final average salary means the average annual salary within the last ten years of credited service as a member.

Fiscal year means the period beginning November 1 in any year and ending on October 31 of the next succeeding year.

Member means any police officer or firefighter included in the membership of the system.

Membership service means service rendered by a member on or after November 1, 1961.

Prior service means service rendered by a member prior to November 1, 1961.

Regular interest means interest at 3½ percent per annum compounded annually for the first five years of operation, and thereafter such rate which shall be prescribed by the board based upon the experience of the system but not less than 3½ percent per annum.

Service connected disability means any physical hurt resulting from external force or violence occasioned by an act of duty as police officer or firefighter imposed by the ordinances or rules and regulations of the city or any other disability which may be directly attributable to an act of duty.

Withdrawal from service means complete severance of employment of any member as an employee of the city by resignation, discharge or dismissal.

(Rev. Ords. 1987, § 11-231)

Cross reference— Definitions generally, § 1-2.

Sec. 11-232. - System established; effective date.#

The city police officers' and firefighter' retirement system, referred to in this article as the system, is hereby established for the purpose of providing retirement annuities, survivors' benefits and other benefits for police officers and firefighters of the city, pursuant to the provisions of the applicable state law and the Charter of the city. The effective date of the system shall be November 1, 1961.

(Rev. Ords. 1987, § 11-232)

Sec. 11-233. - Membership.#

Membership of the system shall include: (1)

Any person becoming an employee of the police or fire departments of the city after the effective date who is sworn in as a police officer or a firefighter, including patrolmen and firemen, probationary patrolmen and firemen and those holding a higher rank in either department.

(2)

Any person who is an employee of either the police or fire departments on the effective date having previously been sworn in as a police officer or firefighter, including patrolmen and firemen, probationary patrolmen and firemen and those holding a higher rank in either department.

(3)

Any person who is temporarily absent on the effective date due to sickness or disability and any person on approved leave of absence on such date for any cause shall be considered as being an employee on the effective date, provided that such leave shall not have extended for more than one year continuously, except in the case of military service.

(4)

Membership shall not include:

Civilian employees of either department;

Persons privately employed as police officers or firefighters;

Persons temporarily employed as police officers or firefighters, except interim employees engaged in time of war.

(5)

Membership of the system shall include all persons presently incumbent in a position with either the police or fire departments, except clerical employees.

(Rev. Ords. 1987, § 11-233)

Cross reference— Definitions generally, § 1-2.

Sec. 11-234. - Creditable service.#

(a)

Any person becoming a member of the system on the effective date shall be entitled to credit for prior service for the same periods of time for which credit was granted under any predecessor pension fund or retirement system maintained by the city in which the member was a participant and for membership service after the effective date for which he made contributions. Any person becoming a member of the system after the effective date shall be entitled to credit for the purposes hereof for membership service for which he made contributions.

(b)

Any member entering the service of the army, navy, marines, air force or coast guard of the United States by enlistment or induction during time of war or other national emergency recognized by the board who reenters the employ of the city within 90 days from the date of termination of his armed service after an unconditional honorable discharge shall receive credit for such military service. If such member had received a refund of contributions at the time of entry into military service or during such military service, he shall repay to the system the amount of such refund, including regular interest from the date of refund to the date of repayment. Upon repayment of such refund, credit for the period of service previously forfeited by the acceptance of the refund shall be reinstated to the account of the member.

(c)

In the computation of prior service or membership service, 15 days of service or more during any month shall constitute a month of service, and 12 months of service shall constitute a year of service. In no case, except as to military service, shall credit be allowed for any period of absence without salary, nor shall less than 15 days of service during any month be considered for the computation of service, nor shall more than one year of service be credited for service rendered in any one calendar year.

(Rev. Ords. 1987, § 11-234)

Sec. 11-235. - Requirements for service retirement.#

(a)

Effective November 1, 1975 a member may retire on a service retirement annuity, at his option:

(1)

On or after attainment of age 55 years and having at least 20 years of credited service;

(2)

On attainment of 60 years and having at least ten years of credited service; or

(3)

On completion of 24 or more years of credited service, regardless of age.

(b)

Any member shall be subject to compulsory retirement upon attainment of age 62.

(Rev. Ords. 1987, § 11-235; Ch. 692, § I, 12-19-17)

Sec. 11-236. - Service retirement annuity.#

(a)

Effective May 1, 1991, those members who retired from service between 1962 and 1984 shall receive a one-time ad hoc cost of living adjustment in the amount of $815.00 per year per member.

(b)

Effective June 1, 2008 those members who retired from service between 1962 and 1984 shall receive a one-time ad hoc cost of living adjustment of $900.00 per member except in the case of a widowed member whose increase shall be $600.00 per year, and those members who are receiving an annual cost of living adjustment.

(c)

A fractional period of service of less than a full year shall be considered in the calculation of the annuity.

(d)

All retired police officers and fire fighters currently receiving a service connected disability pension who otherwise do not presently qualify for the existing cost of living adjustment as provided for in the current collective bargaining agreement for police officers and fire fighters shall be entitled to an annual three percent cost of living adjustment in their pension effective January 1, 2000.

(e)

Effective February 12, 2018, members retiring from service shall receive an annuity as provided for in the current collective bargaining agreement for police officers and fire fighters.

(f)

All retired police officers and fire fighters currently receiving a service connected disability pension or receiving a service connected pension shall receive a cost of living adjustment as provided for in the collective bargaining agreement for police officers and fire fighters that was in effect at the time of their retirement.

(Rev. Ords. 1987, § 11-236; Ch. 441, § I, 7-15-97; Ch. 451, § I, 9-16-97; Ch. 108, § I, 1-4-00; Ch. 133, § I, 8-15-00; Ch. 301, § I, 3-23-04; Ch. 383, § I, 3-21-06; Ch. 450, § I, 5-20-08; Ch. 667, § I, 3-21-17; Ch. 700, § I, 3-6-18; Ch. 711, § I, 6-5-18)

Sec. 11-237. - Service-connected disability.#

(a)

A member incurring disability resulting from an act of duty shall be entitled to a service connected annuity equal to 66.66 percent of the rate of salary in effect at the date of disability.

(b)

Such annuity shall be increased ten percent of such salary on account of each minor child of the member who is under age 18, payable until attainment of age 18, subject to maximum payment for the combined annuities to a member and minor children equal to 80 percent of salary. Legally adopted children of the member shall be considered for benefit hereunder on the same basis as children of the blood. This only applies to each minor child, including in utero at the time the service connected annuity is approved.

(c)

If a member in receipt of such annuity shall recover from disability and reenter active service, such member shall be entitled to a credit as service for the purposes of the system for the time the member was in receipt of a service-connected disability annuity as though he were in active service during such period, and no contributions for such period shall be required from the member. Reentry into service shall be at the discretion of the board.

(Rev. Ords. 1987, § 11-238; Ch. 678, § I, 10-3-17)

Sec. 11-238. - Nonservice-connected disability.#

(a)

Any member becoming totally and permanently disabled due to any cause other than service-connected disability while an employee of the city, who has at least ten years of credited service, shall be entitled to a nonservice-connected disability annuity. This annuity shall be fixed at an amount equal to the percentage they had accrued pursuant to the union contract to the date of the disability. The annuity shall be reduced by any amounts received by the member as salary or other form of compensation received during disability from public funds.

(b)

Nonservice-connected disability shall be considered total and permanent if it results in some impairment of mind or body that substantially precludes a member from performing with reasonable regularity the substantial and material parts of any gainful work or occupation that he would be competent to perform were it not for the fact that the impairment is founded upon conditions which render it reasonably certain that it will continue indefinitely.

(c)

Should a member recover from disability and reenter the service of the city as a police officer or firefighter and shall render at least three years of continuous service thereafter, he shall be credited for service retirement annuity purposes with the periods of time during which he shall have received a nonservice-connected disability annuity. Otherwise, such member reentering service shall not be entitled to service credit for the period of such disability.

(d)

Disability incurred while in military service shall not be considered for the purposes hereof.

(e)

A nonservice-connected disability shall begin to accrue upon the expiration of 90 days following commencement of disability, provided that if the member is receiving salary for a period of more than 90 days, the annuity shall begin to accrue from the date salary has ceased. If written application for the annuity shall not have been filed with the board prior to the expiration of 90 days from date of disability, the annuity shall begin to accrue from the date application therefor has been filed, but, not in any event prior to the time when payments to the member on account of salary have ceased.

(f)

Eligibility for a survivor benefit shall be subject to the following conditions:

(1)

The spouse shall have been legally married to the member at the date of disability. The annuity shall terminate in any event upon remarriage, and any change in marital status thereafter shall create no rights for the surviving spouse to any annuity or any other payment from the system.

(2)

The participant was not married at the time of the disability but had unmarried child/children under the age 18 including in utero. The legal guardian of the child/children shall receive the survivor benefit and would terminate upon their attainment of age 18, death or marriage, whichever first occurs.

(Rev. Ords. 1987, § 11-239; Ch. 712, § I, 6-5-18)

Sec. 11-239. - Administration of disability annuities.#

(a)

The determination of disability from any cause shall be made upon the basis of reports on examinations made by three physicians consisting of the city physician, a physician employed by the board and a third physician selected by the other two.

(b)

A member on disability shall at the board's discretion be required to submit to an examination at least once each year by a physician appointed by the board to establish that the member is incapacitated for service as a police officer or firefighter and is entitled to continue to receive an annuity. The board may cancel a disability annuity upon evidence that the member is no longer disabled for such service. If such cancellation occurs and the member does not reenter service, he shall be entitled to a refund of the excess, if any, of the contributions made by the member, including interest, over the amounts received by the member on the disability annuity.

(c)

If a medical examination or an investigation made by the board discloses that a member is engaged or is able to engage in any gainful occupation, payment of the disability annuity shall be discontinued or reduced to an amount which, when added to his income from such gainful occupation, shall not exceed the rate of his salary at date of retirement or the rate of salary currently being paid for a position similar to that held by the member at commencement of disability, whichever is higher.

(d)

Should any member receiving a disability annuity refuse to submit to a medical examination or supply the board with a statement of income as hereinbefore provided, annuity payments by the system shall be discontinued until compliance with the provisions of this section. Should such refusal continue for one year, all rights of the member to any disability annuity shall be revoked by the board. Upon a finding that a member receiving a disability annuity has deliberately falsified information contained in his statement of income, all rights of the member in any disability shall be revoked by the board.

(e)

Each member in receipt of a disability annuity shall be required to submit to the board at least once each year a statement of income from a gainful occupation for the preceding 12 months on a form supplied by the board. Any adjustment in annuity payments as aforesaid shall be based upon such statements of income. A disability annuity shall be suspended if such statement discloses income from a gainful occupation equal to or in excess of the aforesaid amount, but shall be resumed when such condition has changed.

(f)

Medical examinations of a member for consideration of a disability annuity (for a service-connected or nonservice-connected disability), as described in this section, shall be made upon application of a member acting on their own behalf, or upon application of the chief of the department of which said member is employed if the chief believes that the member is unable to perform his or her duties due to a disability, and that said disability is likely to be permanent.

(Rev. Ords. 1987, § 11-240; Ch. 679, § I, 10-3-17; Ch. 701, § I, 3-6-18)

Sec. 11-240. - Service-connected death.#

(a)

Upon death of a member in the line of duty which qualifies for a benefit pursuant to the federal Public Safety Officers' Death Benefit Act, regardless of the age or length of service of the member, a surviving spouse shall be entitled to an annuity equal to 50 percent of the member's rate of salary at the date of his or her death, and effective December 26, 2001 a three percent annual cost of living allowance on a yearly basis from the time the annuity is awarded.

(b)

If no widow survives, each minor child under age 18 shall be entitled to 15 percent of such member's salary, subject to a limitation for the combined payments to children equal to 60 percent of such salary.

(c)

In the event that either of the foregoing limitations are exceeded, the pensions shall be prorated to conform to the applicable limitation.

(d)

If minor children under age 18 survive the member, the widow shall receive on account of each minor child an additional ten percent of the member's salary. The combined payments to a widow and children shall in no event exceed 70 percent of such member's salary.

(e)

The annuity to a widow shall be payable during widowhood. Minor children shall be eligible for annuity until their attainment of age 18, death or marriage, whichever occurs first.

(f)

The determination of whether or not death is duty-connected shall be made in the manner provided for the administration of disability annuities.

(g)

Any annuity payable to a beneficiary hereunder shall be reduced by the city by the amount of the workmen's compensation benefit.

(Rev. Ords. 1987, § 11-241; Ord. No. 236, § I, 11-26-02)

Sec. 11-241. - Nonservice-connected death.#

Upon death of a member due to any cause other than an act of duty occurring while a member is in service, on sick leave with salary, on an approved leave of absence extending not more than six months continuously or while in receipt of a service retirement annuity or nonservice-connected disability annuity, if such member shall have at least ten years of credited service, the surviving spouse shall be entitled to an annuity. This annuity shall be equal to the survivor benefit percentage multiplied by the percentage they had accrued pursuant to the union contract to the date of the death. Eligibility for a survivor benefit shall be subject to the following conditions: (1)

The spouse shall have been legally married to the member at the date of death. The annuity shall terminate in any event upon remarriage, and any change in marital status thereafter shall create no rights for the widow to any annuity or any other payment from the system.

(2)

The participant was not married at the time of the death but had unmarried child/children under the age of 18 including in utero. The legal guardian of the child/children shall receive the survivor benefit and would terminate upon their attainment of age 18, death or marriage, whichever occurs first.

(a)

Minor children shall include children of the blood and adopted children, provided that the proceedings for adoption shall have been initiated at least one year prior to the date of the death of the member.

(Rev. Ords. 1987, § 11-242; Ch. 690, § I, 12-19-17; Ch. 710, § I, 6-5-18)

Sec. 11-242. - Refund of contributions.#

(a)

Any member withdrawing from service prior to retirement shall be entitled to a refund, in a single sum, of the amount of his contributions to the system, without interest. The payment of a refund under the provisions hereof shall automatically effect a waiver and forfeiture of all accrued rights and benefits in the system on the part of any member. The board may, in its discretion and regardless of cause, withhold payment of a refund for a period not to exceed one year after receipt of an application therefor.

(b)

Any member who has received a refund shall be considered a new member upon subsequent reemployment, provided that if such member shall render at least three years of service following his latest reentry into service, he shall be entitled to regain his previously forfeited service credits upon repayment of all amounts received as refunds, including regular interest from dates of refunds to date of repayment. The time and manner of making such repayments shall be fixed by the board.

(c)

Upon death of a member leaving no survivors eligible for annuity from the system, his accumulated contributions in the system, without interest, shall be paid in a single sum to such person as he shall have nominated by written designation duly executed and filed with the board. If no such designation shall have been made, payment shall be made to the legal representative.

(Rev. Ords. 1987, § 11-243)

Sec. 11-243. - Method of funding.#

The system shall be financed in accordance with an annual determination to be made of the actuarial service requirements for the several annuities and benefits prescribed in this section for the members and their beneficiaries for services rendered and to be rendered. In addition to interest income and other income accruing to the system, these requirements shall be financed by contributions by the members and the city, as follows: (1)

Beginning as of the effective date, each member shall contribute, as his share of the cost of the several annuities and benefits prescribed in this article, seven percent of salary earned and accruing after such date. These contributions shall be made in the form of a deduction from salary notwithstanding that the salary paid in cash to such member shall be reduced thereby below the minimum prescribed by law. Each member shall be deemed to consent to such deductions, and payment to a member of salary less deductions shall constitute a full and complete discharge and acquittance of all claims and demands whatsoever for the services rendered by such member during the period covered by the payment, except as to the benefits provided in this article.

(2)

For service rendered after the effective date, the city shall make contributions concurrently with the contributions by the members in an amount which, if paid during the total period of such service and added to the members' contributions for such service, will be sufficient to provide actuarial reserves for the annuities and benefits earned during such service. The rate of contribution by the city for the first fiscal year shall be seven percent of members' salaries, which shall be increased for each fiscal year thereafter ten percent thereof for a period of five fiscal years. At the end of such period, an actuarial survey shall be made and a new rate determined for future years in accordance with the prescribed method of funding.

(3)

To provide for the accrued liability for that part of the annuities and benefits arising from service of members rendered prior to the effective date, the city shall contribute a sum sufficient to amortize the liability over a period of forty years from the effective date, assuming an interest rate of 3½ percent per annum. The rate of contribution by the city for the first fiscal year shall be three percent of members' salaries, which shall be increased for each fiscal year thereafter ten percent thereof for a period of five fiscal years. At the end of such period, an actuarial survey shall be made and a new rate determined for future years to meet the requirements of the system in accordance with the prescribed method of funding.

(4)

The amount of each city contribution provided in this section shall be determined by applying the percentage rates stated to the salaries paid to the members during each payroll period, and the resulting amounts shall be remitted by the city to the system concurrently with the payment of salaries to the members.

(5)

Effective January 1, 1988, pursuant to the provisions of section 414(h)(2) of the United States Internal Revenue Code, the city shall pick up and pay the contributions which would be payable by the members under subsection 11-243(1). The contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code. Member contributions which are picked up pursuant to this subsection shall be treated and identified as member contributions for all purposes of the system except as specifically provided to the contrary in this subsection.

Member contributions made pursuant to this subsection shall be credited to a separate fund within a member's individual account so that the amounts contributed prior to the effective date for the pick up of a member contributions may be distinguished from the amount contributed on or after such date.

(Rev. Ords. 1987, § 11-244)

Sec. 11-244. - Accounting generally.#

(a)

The assets of the system shall be held for the express purposes set forth in the provisions of this article subject to the conditions prescribed in this section. An adequate system of accounts and records shall be established and maintained that will give effect to the requirements of this article. All assets of the system shall be credited to designated reserve accounts according to the purposes for which they are held, as follows:

(1)

Members' contribution reserve.

That portion of the amounts contributed by members to this system on or after the effective date, representing seven percent of salary, shall be credited to this reserve. An individual account shall be maintained for each member to which shall be credited the amount of such contributions.

Upon retirement for service or disability, the accumulated contributions to the credit of the member shall be transferred from this reserve to the retirement reserve. Refunds of member contributions paid upon separation or death of a member shall be charged to this reserve.

Member contributions picked up by the city shall be paid from the same source of funds used for the payment of compensation to a member. A deduction shall be made from a member's compensation equal to the amount of his contributions picked up by the city. This deduction, however, shall not reduce his compensation for purposes of computing benefits under the system pursuant to this section. Picked up contributions shall be transmitted to the system in accordance with the provisions of subsection 11-243(4).

(2)

City contribution reserve. All amounts contributed by the city in accordance with the provisions hereof, except contributions for administrative expense, shall be credited to this reserve.

All income from investments, including gains from investment transactions, shall be credited to this reserve. All losses on investments and amounts required for interest on the other reserves shall be charged hereto.

Upon the granting of any annuity for service, disability or death, an amount representing the excess of the actuarial value of the annuity over the accumulated contributions of the member shall be transferred from this reserve to the retirement reserve.

If at the close of any year it shall be determined by actuarial valuation that the balance in the retirement reserve is insufficient to meet the liability for the annuities chargeable thereto, an amount equal to such deficiency shall be transferred from this reserve to the retirement reserve.

(3)

Retirement reserve. Upon the granting of any annuity for service, disability or death, the accumulated contributions of the member in his individual account and an amount representing the actuarial value of the member over such accumulated contributions shall be transferred from the members' contribution reserve and city contribution reserve, respectively. Hereafter, all payments by the system on account of any annuity shall be charged to this reserve.

(4)

Administrative expense reserve. Amounts contributed by the system for administrative expense shall be credited to this reserve. All expenses of administration of the system shall be charged to this reserve. The board shall certify to the city annually the amount of its requirements for administrative expenses. To provide for the initial expenses incident to the organization and establishment of the system, the city shall contribute, upon the adoption of this article, a sum estimated by the board as being necessary for that purpose.

(5)

Actuarial studies. An actuarial survey of the operating experience of the system, as a check of the mortality, turnover, disability, interest and other actuarial factors assumed in calculations of liabilities and costs shall be made at least once every five years by an actuary engaged by the board. An annual actuarial valuation shall be completed as of the close of each fiscal year for the purpose of establishing the financial condition of the system and as a check on the adequacy of the reserves of the system.

(b)

Any excess balance in the retirement reserve as determined by actuarial valuation shall be applied to reduce the city's contributions in the succeeding year, and deficiency in the retirement reserve, which shall be charged to the city contribution reserve, shall be removed by an increase in the city's contribution rate for the succeeding fiscal year. Such adjustments as may be required in this or any other reserve shall be made upon recommendation of the actuary.

(Rev. Ords. 1987, § 11-245)

Sec. 11-245. - Board of trustees—Established; composition; terms; vacancies; oath; management of system generally.#

(a)

The system created by this article shall be construed to be a trust, separate and distinct from all other entities. The responsibility for the direction and operation of the system and for making effective the provisions hereof is hereby vested in a board of trustees. The board shall consist of seven members, as follows:

(1)

Two members representing the city, who shall be ex officio, the mayor and the director of finance of the city.

(2)

One police officer and one firefighter, each having at least five years of credited service, who shall be members of the system from the respective occupational groups according to rules of election to be adopted by the board. Until elections for trustees are held, the mayor shall appoint two temporary trustees meeting the foregoing qualifications from among the police officers and firefighters who shall hold office until permanent trustees are elected, but the terms of such temporary trustees shall not extend for more than six months.

The original elected trustees shall serve for the following terms: One representing police officers for a term of two years, and one representing firefighters for a term of three years. The trustees so elected shall take office upon their election and shall succeed the temporary trustees appointed by the mayor. Their terms of office shall terminate on October 31 of the second and third year following their election, as the case may be. The trustees shall serve for terms of three years.

(3)

One member who shall be elected from the city police and fire retirees association, and who shall serve for a term of three years, such term to terminate as of October 31, 1993; and one member who shall be an elected member of the city council, and who shall be selected by the mayor, who shall serve for a two-year term with such term as trustee to terminate as of October 31, 1993 or at the termination of his service as a city councilman should that event occur prior to the stated date, and his successors shall serve for terms of two years.

(4)

One member, who shall be selected by the remaining six members of the board, who shall serve for a term of three years. The initial member so selected shall serve until October 31, 1961, and his successors shall serve for terms of three years.

(b)

A trustee shall continue in office until his successor is elected or appointed and qualified. Any trustee who is a police officer or firefighter shall be disqualified to serve in that capacity upon termination of service with the city. If a vacancy occurs in the office of an elective trustee, a successor shall be elected by the board for the period until the next regular annual election, such person to be elected from among the members of the system represented by the person who vacated. If a vacancy occurs in the office of an appointive trustee, such vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

(c)

Each trustee shall take an oath that, so far as it devolves upon him, he will diligently and honestly administer the affairs of the board and that he will not knowingly or willfully permit to be violated any of the provisions of this article applicable to the system. Such oath shall be subscribed by the member making it, certified by the officer before whom it is taken and immediately filed with the city clerk. A trustee shall be deemed to have qualified for membership on the board when such oath shall have been filed.

(d)

Subject to the limitations prescribed in this section, the board shall from time to time establish rules and regulations for the administration of the system and to implement the provisions of this article as may be required. It shall hold regular meetings at least quarterly in each year and such special meetings as may be deemed necessary. The annual meeting shall be held in the month of January of each year. All meetings shall be open to the public. A record of proceedings of all meetings shall be kept by the board.

(e)

Each trustee shall be entitled to one vote on the board, and the concurrence of three trustees shall be necessary for a decision at any regular or special meeting.

(Rev. Ords. 1987, § 11-246; Ch. 877, § XX, 6-6-23)

Cross reference— Boards, committees and commissions, § 2-36 et seq.

Sec. 11-246. - Same—Officers and their duties.#

The board of trustees shall have the following officers, whose duties shall be prescribed by the bylaws to be adopted by the board: (1)

A chair and a vice-chair shall be elected from among its members;

(2)

The director of finance of the city, ex officio, shall be secretary to the board and the administrative head of the system;

(3)

Reserved.

(4)

The city attorney, ex officio, shall be legal counsel to the board and shall represent the board in all litigation affecting the system;

(5)

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

(Rev. Ords. 1987, § 11-247; Ch. 681, § I, 10-3-17)

Sec. 11-247. - Administration by secretary generally.#

Subject to the orders and resolutions of the board, the secretary, as the administrative head of the system, shall: (1)

Employ such clerical and professional services as may be required for the proper operation of the system, whose compensation shall be fixed by the board of trustees;

(2)

Establish and maintain records, files and accounts in such form and scope as will give full effect to the requirements of the system in accordance with the provisions hereof;

(3)

Accumulate actuarial data concerning the operating experience of the system in such form as is necessary for the annual actuarial valuations and periodic actuarial studies in accordance with recommendations of the actuary;

(4)

Prepare periodic reports as may be required for the efficient administration of the system;

(5)

Prepare the annual report of the board to be submitted to the city council each year showing among other things a statement of assets, liabilities and reserves certified by the actuary, an accountant's balance sheet together with a statement of income and expenditures, a listing of investments owned by the system, a detailed statement of investments acquired and disposed of during the year covered by the report and such other financial and statistical data as may be deemed necessary for a proper interpretation of the condition of the system and the results of its operation. The board shall cause to be distributed among the members of the system a synopsis of such annual report.

(Rev. Ords. 1987, § 11-248)

Sec. 11-248. - Investments.#

(a)

The board may keep as an available fund for current disbursements by the system an amount not to exceed the requirements for such purposes for a period of 90 days.

(b)

Any amounts in excess of the current cash balance shall be invested in any securities or investments in which the deposits in savings banks and participation deposits in banks and trust companies may legally be invested, as provided by to G.L. 1956, §§ 19-9-1 through 19-9-15, subject, however, to the terms, conditions, limitations and restrictions imposed by such laws in the making and disposing of such investments.

(c)

The board may purchase bonds, notes or other obligations of the city before or after such bonds, notes or other obligations are offered to the public, whether or not bids have been solicited by the city for such securities.

(d)

The board shall have power to hold, purchase, sell, assign, transfer and dispose of any of the securities in which the monies of the system have been invested, as well as the proceeds from such investments and any other property belonging to the system.

(e)

All investments shall be clearly marked to indicate ownership by the system and to the extent possible shall be registered in its name. No securities shall be purchased or sold or in any manner hypothecated except by action of the board duly entered in the record of its proceedings.

(f)

Any limitations affecting the purchase of securities shall be applicable only at the time of purchase and shall not require the liquidation of an investment at any time.

(g)

All investments shall be carried at book value providing a yield which, when computed at a uniform rate compounded annually or semiannually as the case may be, will remain the same to maturity. No adjustments shall be made in investment valuation for ordinary market fluctuations, but reserves may be provided for anticipated losses upon redemption or maturity as may be determined by the board.

(h)

No member or employee of the board shall have any direct interest in the income or gains from any investment made by the board, nor shall any such person receive any pay or emolument for services in connection with any investment. No member or employee of the board shall become an endorser or surety or in any manner an obligor for money loaned or borrowed from the system. Proof that any such person has violated any of these restrictions shall make him guilty of a misdemeanor or larceny, as the case may be, and such person shall be punishable therefor as provided by law.

(Rev. Ords. 1987, § 11-249)

Sec. 11-249. - Benefits nontransferable and exempt from execution, etc.#

The right to a service retirement annuity, disability annuity, survivors' annuity or benefit or any other benefit or refund thereof under the provisions of this article, by whatever name called, is personal with the recipient thereof, and the assignment or transfer of such annuity or benefit or any part thereof shall be void, except as may be provided in this article. Any such annuity or benefit shall not answer for debts contracted by the person receiving such annuity or benefit, and it is the intention of this article that they shall not be subject to execution, attachment, garnishment, nor shall they be affected by any judicial proceedings.

(Rev. Ords. 1987, § 11-250)

Sec. 11-250. - Payment of benefits in monthly installments.#

Any service retirement annuity, disability annuity, survivors' annuity or any other annuity provided in this article shall be payable in equal monthly installments as life annuities. The first payment of any such annuity shall be made for the fraction of the month elapsing until the end of the first month, and the last payment shall be made as of the end of the month in which death occurs.

(Rev. Ords. 1987, § 11-251)

Sec. 11-251. - Fraud, false representation.#

Any person who knowingly makes any false statement or falsifies or permits to be falsified any record of this system in any attempt to defraud the system is guilty of a misdemeanor. The system and the city shall have the right to recover by setoff or otherwise any payments made under false representations. If any such person shall be a member of the system or the beneficiary of a member, he shall forfeit all rights to further participation in any of the benefits hereunder.

(Rev. Ords. 1987, § 11-252)

Sec. 11-252. - Death of a retired participant.#

Upon death of a retired member while in receipt of a service retirement annuity surviving spouse shall be entitled to a survivor benefit. The survivor benefit annuity is a fixed amount and shall be equal to 67.5 percent of the deceased members' annuity. Eligibility for a survivor benefit shall be subject to the following conditions: (1)

The surviving spouse shall have been married to the member at the date of the deceased member's retirement and as of the date of the member's death.

(2)

The participant was not married at the time of retirement but had unmarried child/children under the age 18 including in utero at the date of retirement. The legal guardian of the child/children shall receive the survivor benefit and would terminate upon their attainment of age 18, death or marriage, whichever first occurs.

(a)

(Ch. 732, § I, 11-7-18; Ch. 952, § I, 11-4-25)