Sec. 2-1503. Phoenix Employees’ Deferred Compensation Board; appointment; terms.
A. The Phoenix Employees’ Deferred Compensation Board is established to govern the program. The Board shall consist of nine members as follows:
1. Three employees of the City appointed by the Council. One employee shall be a non-public safety member of the Coalition of Phoenix City Unions. One employee shall be a member of the International Association of Firefighters Local 493. One employee shall be a member of either the Phoenix Law Enforcement Association or the Phoenix Police Sergeants and Lieutenants Association.
2. Two citizens from the general public, who have investment experience and have no rights in the program, directly or indirectly, appointed by the Council.
3. Two management employees of the City appointed by the City Manager. One management employee shall have human resources and employment benefits experience. One management employee shall have public sector finance and investment experience.
4. The City of Phoenix Employees’ Retirement Plan Administrator.
5. The City Manager or the City Manager’s designee, who shall be the Board’s chair.
B. In order to ensure continuity of experience on the Phoenix Employees’ Deferred Compensation Board, the Council and City Manager shall appoint members to the following initial terms:
1. Two years: The non-public safety member of the Coalition of Phoenix City Unions; one citizen with investment experience; and, the management employee with human resources and employment benefits experience.
2. Three years: The member of the International Association of Firefighters Local 493; the management employee with public sector finance and investment experience; and, the City of Phoenix Employees’ Retirement Plan Administrator.
3. Four years: The member of the Phoenix Law Enforcement Association or the Phoenix Police Sergeants and Lieutenants Association; one citizen with investment experience; and, the City Manager or the City Manager’s designee.
After the initial terms, members of the Board shall serve for a term of four years. In the event of a vacancy before the expiration of a term of office, the new member appointed to fill the vacancy shall serve the unexpired term vacated.
C. The term of any member automatically ends:
1. On death.
2. On a written resignation submitted to the Board Chair or City Manager.
3. On removal from office under Phoenix City Code Section 2-51
4. On failure to attend three consecutive regular meetings of the Board.
5. For members who represent employee associations specified in subsection A, paragraph 1, above and the member representing the Coalition of Phoenix City Unions, on disqualification as an eligible member of the employee association represented or the Coalition.
6. For members who are City employees, on termination of City employment.
D. Five members shall constitute a quorum for the exercise of the powers and authority conferred upon the Board.
E. Members shall receive no salary or compensation for their service.
F. Members are subject to the State laws regarding conflicts of interest. Any member having a conflict in a decision before the Board must identify that conflict in the official minutes of the Board. Members shall file with the City Clerk department a written disclosure statement of the interests or a copy of the Board’s official minutes that identify the interests. (Ord. No. G-4634, § 3, 2004)