ARTICLE X. - RETIREMENT BOARD (FOR SYSTEM EFFECTIVE JULY 1, 1992)
Part of the Code of Ordinances of Warwick, RI.
The text
Sec. 6-311. - Established; responsibility for administration of plan; membership; voting; officers.#
(a)
Board established; general duties. The general administration and the responsibility for the proper operation of the plan and for making effective the provisions of article III of chapter 60 are hereby vested in a retirement board.
(b)
Membership. The membership of the retirement board shall consist of:
(1)
The city's finance director ex officio;
(2)
The city's personnel chief ex officio;
(3)
The chairperson of the city council finance committee ex officio;
(4)
The president of the union ex officio;
(5)
Three members to be elected for a term expiring June 30, 1994, providing:
a.
One of the three members shall be elected from and by the membership of the plan who also hold membership within an appropriate bargaining unit as designated by the state labor relations board for collective bargaining purposes with the city. Such member shall hold office only while a member of both the plan and the appropriate bargaining unit.
b.
One of the three members shall be elected from and by the membership of the plan who are retirees. Such member shall hold office only while a retiree.
c.
One of the three members shall be elected from and by the membership of the plan who does not hold membership in the union as described above and who is not a retiree. Such member shall hold office only while a member of the plan.
Subsequent elections shall be for terms of three years beginning July 1, 1994, and each three years thereafter.
(6)
Four members who shall not be employees of the city shall be appointed for terms of three years from the date of expiration of the term for which the predecessor of each member was appointed.
(c)
Filling of vacancies. If a vacancy occurs in the office of a retirement board member, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.
(d)
Voting. Each retirement board member shall be entitled to one vote on the board. An affirmative vote of a majority of the board members present shall be necessary for a decision by the members at any meeting of the board. The presence of six members of the retirement board shall be required to constitute a quorum for conducting business at any meeting.
(e)
Officers. The retirement board shall elect a chairperson from its membership by majority vote. The chief of personnel shall be the secretary of the retirement board, but he or she may appoint an employee of the plan to perform necessary duties of the position.
(Ord. No. O-93-31, § I(7.1), 12-13-93; Ord. No. O-09-25, § I, 9-15-09)
Sec. 6-312. - Powers and duties.#
(a)
Jurisdiction. The retirement board shall have exclusive original jurisdiction in all matters relating to or affecting the funds provided for in this article and article III of chapter 60, including, in addition to all other matters, all claims for benefits and refunds under this article and article III of chapter 60, and its action, decisions or determinations in any matter shall be reviewable according to law.
(b)
Authority to establish regulations for administration of plan. Subject to the limitations of this article and article III of chapter 60, the retirement board shall, from time to time, establish rules and regulations for the administration of funds created by this law, for the transaction of its business and for the limitation of the time within which claims may be filed and for the administration and transaction of the business of the plan, and shall perform such other functions as are required for the execution of this article and article III of chapter 60.
(c)
Payment of expenses. All necessary expenses of the retirement board and the staff of the plan shall be paid at such rates and in such amounts as the retirement board shall approve.
(d)
Limitation on administrative powers and duties. Except as provided in this article and article III of chapter 60, the retirement board shall have no administrative powers or duties.
(Ord. No. O-93-31, § I(7.2), 12-13-93)
Sec. 6-313. - Records; annual report.#
The secretary of the retirement board shall be responsible for keeping a record of all its proceedings, which shall be open to public inspection. He or she shall publish annually a report approved by the retirement board showing the financial condition of the fund.
(Ord. No. O-93-31, § I(7.3), 12-13-93)
Sec. 6-314. - Duties of city solicitor.#
The city solicitor shall be the legal adviser and counsel of the retirement board.
(Ord. No. O-93-31, § I(7.4), 12-13-93)
Sec. 6-315. - Amendment of plan.#
The city council shall have the right to amend the plan. The plan may not be altered or amended without consultation between the city council and the retirement board.
(Ord. No. O-93-31, § I(7.5), 12-13-93)
Sec. 6-316. - Designation of beneficiary by members of plan.#
After joining the plan in accordance with section 60-341, each member shall designate, on such forms as are acceptable to the retirement board, one or more individuals, estates or trusts as his or her beneficiary under the plan, including contingent beneficiaries. The member may change his or her designated beneficiary at any time prior to retirement.
(Ord. No. O-93-31, § I(7.6), 12-13-93; Ord. No. O-98-43, § I, 12-14-98)
Sec. 6-317. - Group annuity contract purchase authorized.#
The retirement board is hereby authorized and empowered to apply for and purchase from an insurance company, authorized to transact business in the state, a group annuity contract, in form approved by said retirement board, for the purpose of providing benefits to members of the plan. Such group annuity contract may contain a provision for establishing separate accounts funding for the purpose of allocating thereto amounts paid to the insurer by the retirement board in connection with the plan for the future payment of retirement benefits in guaranteed fixed amounts.
(Ord. No. O-93-31, § I(7.7), 12-13-93)