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EMPLOYEE RETIREMENT ACCOUNT COMMITTEE
GUIDELINES

Courtesy of the City Auditor and Clerk

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:

  • The City Auditor and Clerk, who shall serve as Secretary
  • The Director of the Finance Department, who shall serve as
  • Treasurer
  • Two individuals appointed by the City Commission, who shall
  • preferably have trust banking or investment management experience
  • One individual that is appointed by a majority of the other four
  • committee members (preferential consideration shall be given to a
  • Participant of the Plan)

  •  

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: Harry Ramphal, Phone Number: 954-2600, Pensions Department

 


View Employee Retirement Account Committee Summary
View List of Members
Download the Advisory Board Application Form

 

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