EMPLOYEE RETIREMENT ACCOUNT COMMITTEE GUIDELINES
Establishment: Ordinance No. 11-4988
Board Membership - Qualifications and Other Requirements:
a) An Employee Retirement Account Committee shall be established to provide oversight of the DC Plan and to make recommendations regarding such matters as: the terms and conditions of the DC Plan; the administration of the DC Plan; the concerns, suggestions and claims of Participants; and the parameters governing investments.
b) The Committee shall include:
c) The City Commission makes appointments from submitted applications.
d) No person shall serve on more than one Board simultaneously unless special board membership requirements, pertaining to special qualifications of members, warrant an exception.
e) The Committee members appointed by the City Commission shall serve for a term of three years, except for appointments to fill an unexpired term resulting from a vacancy in office. The fifth committee member shall serve for a period of three years unless sooner replaced by the other four committee members.
f) The Board shall consist of five members.
g) The Board typically meets quarterly. Special meetings are called as necessary.
Number of Members: Five
Meetings: Meetings occur quarterly. Special Meetings are called as necessary.
Contact Person: Pension Administration, Phone Number: 941-954-2608
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