A. The relief and pension fund, created and established for members of the fire department of the city who did not join the public employees’ retirement system, shall be administered by a board of trustees known as the pension board. The pension board shall consist of the mayor, city manager, finance director, chief of the fire department and three other persons elected by vote of the members of the fund. Members of the fund shall be eligible for election as members of the pension board and three other persons elected by vote of the voting members of the fund.

B. Subject to modification or exception by written petition signed by a majority of the members of the fund and timely submitted to the pension board, the pension board shall determine a reasonable time, form and manner for each election. An election of all three members shall be scheduled at the earliest reasonable time after the date this amendment becomes effective. The members of the pension board as presently constituted shall continue to serve until such time as the newly elected members are determined.

C. Members of the pension board elected pursuant to this section shall serve terms lasting no longer than five years, but may be re-elected to serve subsequent terms. Vacancies shall be filled by an election scheduled at the earliest time convenient.

D. All members of the pension board shall serve without compensation.

E. Four members of the pension board shall constitute a quorum for transaction of business. The mayor shall serve as chairman of the pension board, the city manager shall serve as secretary thereof and the finance director shall serve as treasurer of the pension board and of the fund.

F. The pension board shall render an annual report to the city council and to the members of the fund showing the receipts and disbursements during the previous year and the balance remaining in the fund. The pension board shall have exclusive control of the administration, investment and disbursement of the relief and pension fund or funds which may be established pursuant to this chapter. The pension board may establish rules and regulations as necessary to administer this chapter. (Ord. 5000 § 1, 2020; Ord. 3434 § 1, 1996; Ord. 3121 § 1, 1987; Ord. 2649 § 1, 1981; prior code § 5.38.010)