§ 20-1402 Establishment of the retirement savings board; membership.
AC § 20-1402
a. There shall be a retirement savings board, which shall consist of three members. The members of the board shall be appointed by the mayor. b. In making such appointments, the mayor may consider factors, including, but not limited to, the following: 1. Experience in the field of retirement plan administration; 2. Actuarial or demographics experience; 3. Representation of covered employees, other eligible individuals, or participants; and 4. Representation of covered employers, other eligible employers, or participating employers. c. The mayor shall designate one member of the board to act as the chair. d. Board members shall serve at the pleasure of the mayor and shall not receive compensation for work on such board. e. The board shall meet not less than once every quarter and whenever deemed necessary by at least two members of the board. f. The mayor may designate one or more agencies to provide staffing and other administrative support to the board. g. Within appropriations therefor, the board may appoint one or more employees, including an executive director who may assign and supervise board staff. The board may delegate powers and functions to such employees, or to staff of agencies designated by the mayor pursuant to subdivision f of this section. (L.L. 2021/052, 5/11/2021, eff. 8/9/2021)
