§ 22-200. Administration.

(a)

The sole and exclusive administration of and the responsibility for the proper operation of the retirement system (known herein as the "supplemental plan") and for making effective the provisions of this division are hereby vested in the Pension Board of the retirement system, which shall be the same Board as administers the Firefighter's Pension Fund (prior plan) of the City.

(b)

For terms beginning after September 30, 2010, the Board shall consist of five members who shall serve four-year terms as follows:

(1)

Two members who shall be legal residents of the City, who shall be appointed by the City Council.

(2)

Two members who shall be full-time firefighters as defined in F.S. § 175.032(8) who shall be elected by a majority of the actively employed members of this plan who are not participating in the Deferred Retirement Option Plan.

(3)

The fifth member who shall be chosen by a majority of the previous four members as provided for herein, and whose name shall be submitted to the City Council. Upon receipt of such person's name, the City Council shall, as a ministerial duty, appoint such person to the Board as its fifth member.

(c)

If a vacancy occurs in the office of an appointed member, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

(d)

The election of members under section 22-200(b)(2) shall be held as close to August 15 of each election year as administratively feasible. Members of the Board so elected shall take office on October 1 following such election. A new Board will be seated every four years thereafter.

(e)

The Board shall annually appoint from its membership a chair and secretary to take office on October 1 of each year. The Board shall adopt its own rules of procedure and shall keep a record of its proceedings.

(f)

The members of the Board shall serve without compensation but shall be reimbursed for all necessary expenses and per diem that they may incur through service on the Board.

(g)

Each member of the board shall, within ten days after appointment, take the constitutional oath of office, to be administered by and filed with the City Clerk.

(h)

Each member of the Board shall be entitled to one vote on the Board. Three concurring votes shall be necessary for a decision by the members of any meeting of the Board and three members shall constitute a quorum of the Board.

(i)

Subject to the limits of this division, the Board may establish, from time to time, such rules and regulations for the administration of the retirement system as may be necessary.

(j)

The Board may employ such legal, technical, professional or other advisors and medical and other services as shall be required. The compensation for all such services shall be fixed by the Board, subject to the limitations provided herein.

(k)

The Board shall keep in convenient form such data as shall be necessary for actuarial valuation of the various funds of the retirement system and for checking the experience of the retirement system.

(l)

The Board shall keep a record of all its proceedings which shall be open to public inspection at reasonable hours.

(m)

The City Attorney or designee shall give advice to the Board of trustees in all matters pertaining to its duties in the administration of the Municipal Firefighter's Pension Trust Fund whenever requested, and shall represent and defend the Board as its attorney in all suits and actions at law or in equity that may be brought against it and bring all suits and actions in its behalf that may be required or determined upon the Board. However, if the Board of Trustees so elects, it may employ independent legal counsel at the pension fund's expense for the purposes contained herein.

(n)

The Board shall arrange for the necessary physicians to pass upon all medical examinations required under the provisions of this division. It shall be their duty to investigate all essential statements and certificates by or on behalf of members in connection with applications for disability retirement and shall report in writing to the Board their conclusions and recommendations upon all matters referred to them.

(o)

The City will provide administrative, clerical and other staff support to the Board.

(p)

Notwithstanding the provisions of Laws of Fla. ch. 86-41, the Board of Trustees of the Firefighter's Pension Fund shall not be limited in its investment powers to the 30 percent equity investment limit contained in F.S. § 175.071, as amended by such chapter; the City reserves the right, however, to repeal this section and place the Board under those investment limits.

(Code 1973, § 22-100; Code 1992, § 22-190; Ord. No. 979-G, § 1, 6-3-2010)