(a) Created. There is created a board of trustees of the elected officials' retirement system and the money purchase plan for executive personnel, which shall have the responsibilities, duties and authorities as set forth in this section.

(b) Composition. The board of trustees shall be composed of two elected officials, and a retired elected official who will be eligible to receive benefits. These trustees shall be selected by city council. The board shall also be composed of the city manager or a designee, the city attorney or a designee, the presiding judge or a designee, and the court administrator or a designee. The director of finance or a designee and the internal auditor shall serve as advisory, nonvoting trustees.

(c) Officers. The board of trustees shall have the following officers:

(d) Meetings. The board of trustees shall hold meetings regularly, at least quarterly, and shall designate the time and place thereof. All meetings of the board shall be public; each trustee shall be entitled one vote in the meetings of the board. Four trustees shall constitute a quorum at any meeting of the board and a majority vote shall be determinative of any issue before the board. The board shall adopt its own rules of procedure and shall keep a record of its proceedings.

(e) The board has discretionary authority and power to make factual findings, to fix omissions, to resolve plan ambiguities, and to construe the terms of the respective plans as well as the health care fund under section 102-290, so long as an action does not contradict an express plan provision. (Ord. No. 2000-42, § 3, 6-5-2000)