The term of membership shall be three years.
Vacancies shall be filled for the unexpired term in the same manner described in §
35-20B.
The Willistown Township Police Pension Advisory Board shall
adopt rules and regulations for the conduct of its own meetings and
business. Such rules and regulations shall comply with all applicable
statutory regulations, including the applicable provisions of the
Sunshine Act.
All members of the Police Pension Advisory Board shall serve
without compensation, but may be reimbursed necessary and reasonable
expenses with the prior approval by the Board of Supervisors. The
Police Pension Advisory Board shall neither expend funds nor incur
obligations without specific prior appropriation by the Board of Supervisors.
The Willistown Township Police Pension Advisory Board is created
by the Board of Supervisors for the purpose of providing recommendations
to the Board of Supervisors concerning the management and administration
of the Willistown Township Police Pension Plan. The Police Pension
Advisory Board shall meet at least once per quarter to review fund
performance of the Willistown Township Police Pension Plan and provide
recommendations to the Board of Supervisors, as deemed necessary by
the Police Pension Advisory Board, concerning the administration of
the Willistown Township Police Pension Plan. The subject matter of
any recommendations of the Police Pension Advisory Board shall include,
but not be limited to, investment policy statements, allocations of
fund investments in the Willistown Township Police Pension Plan, assumed
rates of return, employee education and training, selection of consultants
and advisors, best practices in pension management, and any other
matters affecting the Willistown Township Police Pension Plan. Such
recommendations shall be in writing. In addition to providing meeting
minutes to the Board of Supervisors, the Police Pension Advisory Board
shall file a report in writing with the Board of Supervisors annually.