1. Cause all monies received from the City for the purpose of funding the future liability and expenses associated with the MERP to be deposited into the Trust Fund and otherwise administer the Trust Fund pursuant to this Article and the Trust Agreement.

2. Review the Trust Fund to insure that funds have been deposited as required under the MERP.

3. Make recommendations to the City Manager on financial issues relating to the MERP.

4. Comply with all requirements of State and Federal laws for the management and administration of the MERP and satisfy the requirements of Section 115 of the Code.

5. Meet at least twice a year, or more frequently as the Chairperson of the Board deems necessary, or upon the request of the City Manager.

1. Adopt rules or policies for the operation of the Board, which are not inconsistent with the laws of the State, the City Charter, the City Code, other ordinances and the Trust Agreement.

2. Appoint committees.

3. Request City staff to perform assignments necessary for the administration of the Trust.

4. Hire consultants and other professional service providers to perform assignments necessary for the administration of the Trust.

5. Delegate the Board’s powers, duties and responsibilities established in a manner consistent with its fiduciary responsibilities. (Ord. No. G-5048, § 1, 2007)