[R.O. 2008 §20.700; Ord. No. 2284, 7-12-2005; Ord. No. 2414 §1, 9-22-2009]
A.
The
City has by ordinance created, amended, restated and implemented a
plan for the retirement of all salaried employees of the City of Olivette
on account of age, years of service or disability and for payment
to such employees during their retirement and, upon their death, their
surviving spouse and minor children, which said plan is known as the
Salaried Employee's Retirement Plan.
B.
The
ordinances creating, amending, restating and implementing the Salaried
Employee's Retirement Plan, as they have been and may be enacted by
the City Council from time to time and the Salaried Employee's Retirement
Plan as so created, amended, restated and implemented, govern the
operation and administration of the plan in all respects including,
but not limited to:
C.
The
Salaried Employee's Retirement Plan and the ordinances creating, amending,
restating and implementing the plan are on file with the City Clerk
and available for public inspection.
[R.O. 2008 §20.702; Ord. No. 2284, 7-12-2005; Ord. No. 2543 §1, 1-13-2015; Ord.
No. 2543 §1, 1-13-2015]
A.
There shall be a Board of Trustees for the Salaried Employees' Retirement
Plan, which shall be responsible for:
1.
Conformance to, and implementation of, the City's Statement
of Investment Objectives and Policy for the City of Olivette Salaried
Employees Pension Plan;
2.
Considering, determining, and recommending to the City Council
any matter, either as directed or delegated by the City Council or
on its own volition, directly or indirectly relating to the benefits,
content, funding, amendment, restatement, administration or implementation
of the City's Salaried Employee's Retirement Plan;
3.
Considering, determining, and recommending to the City Council
changes to the City's Statement of Investment Objectives and Policy
for the City of Olivette Salaried Employees Pension Plan;
4.
Performing such additional duties and services as may be directed
by the Council and the City Manager; and
5.
Making an annual report to the Council covering its activities
and work of the preceding year with any recommendations for the future,
said annual report to be filed in December of each year.
B.
Members of the Board of Trustees have fiduciary responsibilities
and will be covered by the City's fiduciary insurance policy.
[R.O. 2008 §20.704; Ord. No. 2284, 7-12-2005]
A.
The
Board of Trustees for the Salaried Employees' Retirement Plan shall
consist of seven (7) voting members, including:
[Ord. No. 2543 §1, 1-13-2015]
1.
Five (5) City residents who shall have significant and applicable
business, financial, and/or investment experience and who shall be
appointed by the City Council to serve staggered three-year terms;
2.
The City Manager; and
3.
One (1) full-time salaried employee of the City of Olivette,
who shall be nominated by a majority of the employees of the City
and appointed by the City Council to a term of three (3) years.
B.
The Council shall also appoint up to two (2) of its own members who
shall act as liaisons to the Board. Council liaisons shall have no
vote on the Board but shall otherwise participate in all Board meetings
and activities.
[Ord. No. 2543 §1, 1-13-2015]
C.
Members
of the Board of Trustees shall serve without compensation.
[R.O. 2008 §20.706; Ord. No. 2284, 7-12-2005]
A.
The Board of Trustees shall elect from its own membership a Chair,
Vice Chair and a Secretary who shall serve for a one (1) year term
and may be re-elected.
[Ord. No. 2543 §1, 1-13-2015]
B.
The
Board of Trustees shall hold a minimum of four (4) regular meetings
each year at a time to be fixed by it and may hold such additional
meetings as may be required for the transaction of the business of
the Board. Any such additional meeting shall be held upon request
of any member of the Board of Trustees upon ten (10) days' notice
to the other members of the Board. The Board shall keep minutes of
its proceedings showing the vote of each member upon each question
or if absent or failing to vote, indicating such fact and shall keep
such other records as it shall deem necessary.
[Ord. No. 2543 §1, 1-13-2015]
C.
The
Board shall abide by Missouri's Open Meetings and Records Act, Sections
610.010, RSMo., et seq., as may be amended from time to time. The
Board may adopt from time to time such rules and regulations as it
may deem necessary to carry out its duties. The Board shall otherwise
abide by the procedures established in Scott Foresman newly revised
Robert's Rules of Order, except as otherwise may be allowed or provided
by law.
