§ 16-43. Board of trustees.

(a) Administration by board. The general administration and responsibility for the proper operation of the retirement system and trust and for making effective the provisions of this ordinance are hereby vested in a board of trustees (herein designated the plan administrator) consisting of five (5) persons as follows:

(1) The mayor and/or commissioner to be appointed by the city commission;

(2) Finance director, as a non-voting member of the board;

(3) Two (2) employee members to be elected by a majority of the actively employed members of the retirement system; and

(4) Two (2) public members selected by the board and appointed by the city commission.

(b) Terms and election. The regular term of office of each employee member and of the public member shall be four (4) years. Each employee member may succeed himself in office. Each public member trustee shall serve as trustee for a period of four (4) years, unless sooner replaced by the city commission at whose pleasure each trustee shall serve, and may succeed himself as a trustee without limitation. Employee members shall be elected in the following manner:

(1) No less than thirty (30) days before the expiration of a regular term or immediately upon notice of a vacancy on the board, the city clerk will notify all actively employed members that an employee member must be elected to the board and request nominations. Such notification will be in writing and will include a nomination form and a list of all employees eligible for nomination. Employees eligible for nomination will include all actively employed members who have completed their six (6) month probationary period of employment. Nominations will be forwarded to the city clerk before the time and date specified on the nomination form.

(2) If one (1) nominee receives a minimum of fifty-one (51) percent of the nominations, that nominee shall be declared elected and shall take office immediately upon commencement of the term of office for which elected.

(3) If no nominee receives fifty-one (51) percent of all nominations, the city clerk will prepare an election ballot listing the nominees receiving the three (3) largest number of nominations and forward a ballot to all actively employed members. Election ballots shall be returned to the city clerk before the time and date specified on the ballot. The nominee receiving the highest number of votes for office shall be declared elected and shall take office immediately upon commencement of the term of office for which elected.

(4) If two (2) or more nominees tie for the highest number of votes, a runoff ballot shall be prepared and a runoff election shall be conducted as in paragraph (b)(3) herein.

An election shall be held not more than thirty (30) and not less than ten (10) days prior to the commencement of the term for which a board member is to be elected. The city shall establish and administer the nominating and election procedure for each election. The board shall elect annually by majority vote from among its members a chairman and vice-chairman.

(c) Vacancies. If a vacancy occurs in the office of trustee, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

(d) Resignation. A trustee may resign at any time as trustee of the plan by giving thirty (30) days written notice in advance to the city and to the board of trustees.

(e) Removal. The board of trustees, upon the vote of four (4) of its members, may submit to the city commission its recommendation that the city commission remove any trustee who neglects the duties of his office. The city commission may, by majority vote, thereafter remove such member as a trustee.

(f) Expenses. The trustees shall serve without compensation, but they may be reimbursed from the fund for all necessary expenses which they may actually expend through service on the board, as provided by law.

(g) Oath of office. Each trustee shall, within ten (10) days after his appointment or election, take an oath of office before the city clerk, that the member will diligently and honestly administer the affairs of the board, and that the member will not knowingly violate or willingly permit to be violated any of the provisions of the law applicable to the retirement system. Such oath shall be subscribed to by the member making it and certified by the clerk and filed in the office of the city clerk.

(h) Voting. Each trustee shall be entitled to one (1) vote on the board. Three (3) affirmative votes shall be necessary for a decision by the trustees at any meeting of the board. The chairman shall have the right to one (1) vote only.

(i) Rules. Subject to the limitations of this division, the board of trustees shall from time to time establish uniform rules and regulations for the administration of funds created by this division and for transaction of its business, including provision for expulsion due to nonattendance of its members which could result in a vacancy.

(j) Services. The board of trustees shall engage such actuarial, accounting and other services as shall be required to transact the business of the retirement system. The compensation of all persons engaged by the board of trustees and all other expenses of the board necessary for the operation of the retirement system shall be paid from the fund at such rates and in such amounts as the board of trustees shall agree. Funds may be disbursed by the city's finance department or other disbursing agent as determined by the board, but only upon written authorization by the board of trustees.

(k) Professionals. The board of trustees may employ and pay from the trust fund reasonable compensation to agents, attorneys, accountants and other persons to advise the board as in its opinion may be necessary. The board may delegate to any agent, attorney, accountant or other person selected by it any non-trustee power or duty vested in it by the plan, and the board may act or refrain from acting on the advice or opinion of any agent, attorney, accountant or other person so selected.

(l) Powers and duties. The powers, duties and responsibilities of the board of trustees shall include the power and duty to:

(1) Construe the provisions of the system and determine all questions arising thereunder;

(2) Determine all questions relating to eligibility and participation;

(3) Determine and certify the amount of all retirement allowances or other benefits hereunder;

(4) Establish uniform rules and procedures to be followed for administrative purposes, benefit applications and all matters required to administer the system;

(5) Distribute to members at regular intervals information concerning the system;

(6) Receive and process all applications for participation and benefits;

(7) Authorize all payments whatsoever from the fund, and to notify the disbursing agent, in writing, of approved benefit payments and other expenditures arising through operation of the system and fund;

(8) Have performed actuarial studies and annual actuarial valuations and make recommendations regarding any and all changes in the provisions of the system;

(9) Select a secretary, who shall keep a complete minute book of the actions, proceedings, or hearings of the board and who shall keep a record of all persons receiving pension payments, noting the time of commencement and cessation thereof. Minutes prepared by the secretary shall be filed with the city clerk and made part of the official records of the city.

(10) Enforce the terms of the plan and the rules and regulations it adopts;

(11) Direct the crediting and distribution of the trust;

(12) Review and render decisions respecting a claim for (or denial of a claim for) a benefit under the plan;

(13) Furnish the city with information which the city may require for tax or other purposes;

(14) Engage the services of an investment manager or managers (as defined in act section 3(38)), each of whom shall have such power and authority to manage, acquire or dispose of any plan asset under its control as authorized by the board;

(15) Establish and maintain a funding standard account and make credits and charges to the account to the extent required by and in accordance with the provisions of the Code;

(16) Perform such other duties as are specified in this document.

(m) Manner of action. The board of trustees shall exercise all of its powers, duties and discretion under the plan in a uniform and nondiscriminatory manner.

(n) Legal entity. The board of trustees represents a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description.

(o) Meetings. The board of trustees may hold meetings, determining the notice, place and time of each. A majority of its members shall constitute a quorum.

(p) Recusal. A trustee shall have the right to recuse himself or herself from voting as the result of a conflict of interest provided that the trustee complies with the provisions of F.S. § 112.3143, (1996). No member of the board of trustees may decide or determine any matter concerning the distribution, nature or method of settlement of his own benefits under the plan.

(q) Authorized representative. The board of trustees may authorize any one (1) of its members, or its secretary, to sign on its behalf any notices, directions, applications, certificates, consents, approvals, waivers, letters or other documents. The board of trustees must evidence this authority by an instrument signed by all members and filed with the trustee.

(r) Third party. No person dealing with the board of trustees shall be obligated to see to the proper application of any money paid or property delivered to the board of trustees, or to inquire whether the board of trustees has acted pursuant to any of the terms of the plan. Each person dealing with the board of trustees may act upon any notice, request or representation in writing by the board of trustees, or by the board of trustees duly authorized agent, and shall not be liable to any person whomsoever in so doing. The certificate of the board of trustees that it is acting in accordance with the plan shall be conclusive in favor of any person relying on the certificate.

(s) Participant records. The board of trustees shall keep such records and shall prepare such reports concerning participants' accounts as the act and Code require. Upon a member's written request, the board of trustees shall furnish the member the information described in Act section 105(a).

(t) Annual review. The board of trustees shall review, not less often than annually, all pertinent employee information and plan data in order to establish the funding policy of the plan and to determine the appropriate methods of carrying out the plan's objectives.

(u) Parties to litigation. Except as otherwise provided by the act, only the city and the board of trustees shall be necessary parties to any court proceeding involving the plan. No member, beneficiary or other person having an interest in the fund, shall be entitled to any notice of process unless required by the Act.

(Ord. No. 99-02, § 2, 5-4-99; Ord. No. 2008-09, § 2, 3-18-08; Ord. No. 2012-06, § 2, 4-2-12)