There shall be a Contributory Retirement Board which shall consist
of five members. Two members shall be appointed by the Mayor, two
members shall be elected by the members in or retired from service
of such system from among their number, and the fifth member, who
shall not be an employee or retiree or official of the Town, shall
be chosen by the other members.
Pursuant to MGL c. 32, § 20, the terms of all members
shall be for three years.
The Contributory Retirement Board shall have the powers and
duties provided in MGL c. 32 relative to municipal retirement boards
and shall be responsible for the management of the retirement system
for the Town, subject to the requirements of MGL c. 32 and to the
oversight of the Commissioner of Public Employee Retirement.