HomeMy WebLinkAboutPension General_Documentation_Tab 11_02/04/2008!)
• May 10, 2005
B. Designation of a beneficiary or beneficiaries, and,
C. A certified statement as to prior medical and psychological history.
3. Change in Designation of Beneficiary
A member may from time to time change his/her designated benefiaary by
written notice to the Board upon forms provided by the Board. Upon such
change, the rights of all previously designated beneficiaries to receive any
benefits under the System shall cease.
Section 4. Board of Trustees.
1. The sole and exclusive administration of and responsibility for the proper
operation of the retirement system and for making effective the provisions of this ordinance
is hereby vested in a Board of Trustees. The Board shall consist of five (5) Trustees, two
(2) of whom, unless otherwise prohibited bylaw, shall be legal residents of the municipality,
who shall be appointed by the Tequesta Village Council, and two (2) of whom shall be full-
time General Employee members of the System. The fifth (5`h) Trustee shall be selected
• by a majority vote of the other four (4) Trustees.
Each person seeking to fill a designated employee representative Board member
seat shall be elected by their full-time co-workers. Upon receipt of the fifth (5`h) person's
name the Tequesta Village Council shall, as a ministerial duty, appoint such person to the
General Employee Board as its fifth (5`") Trustee. The fifth (5"') Trustee shall have the
same rights as each of the other Trustees appointed or elected as herein provided and
shall serve a two (2) year term unless the office is sooner vacated and may succeed
himself or herself in office. Each resident Trustee shall serve as Trustee for a period of two
(2) years unless sooner replaced by the Tequesta Village Coundl at whose pleasure the
Trustee shall serve, and may succeed himself or herself as a Trustee. Each General
Employee Trustee- shall serve as Trustee for a period of two (2) years, unless he/she
sooner leaves the employment of the Village or otherwise vacates his/heroffice as Trustee,
whereupon a successor shall be chosen in the manner as the departing Trustee. Each
employee representative Trustee may succeed himself or herself in office. The General
Employee Board shall meet at least quarterly each year. The Board shall be a legal entity
with, in addition to other powers and responsibilities contained herein, the power to bring
and defend lawsuits of every kind, nature, and description.
2. The Board shall, by majority vote, elect a chairman and secretary. The
secretary of the Board shall keep, or cause to be kept, a complete minute book of the
actions, proceedings, or hearings of the Board and shall preside over Board meetings in
the absence of the Chairman. The Trustees shall not receive any compensation as such,
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