El Cerrito Municipal Code Ch. 3.20 Pension Board

The pension board shall consist of five members and two ex officio members.

(Ord. 92-6 Div. 2 (part), 1992.)

The council shall act as the pension board. The city manager shall act as an ex officio member of said board, and shall appoint the second ex officio member. The mayor shall act as chair.

(Ord. 92-6 Div. 2 (part), 1992.)

The pension board shall:

A. Compel witnesses to attend and testify before it upon all matters connected with its duties in the same manner as or may be provided by law for the taking of testimony before notaries public. The chair, or any member of the board, may administer oaths to such witnesses;

B. Make all needful rules and regulations for its organization and functioning in conformity with the provisions of this title;

C. Provide for the payment from the pension fund of all necessary expenses; provided, that no compensation or emolument shall be paid to any member of the board for any duty required or performed;

D. Employ an actuary to render a report, at least once during every four-year period, of the costs of maintaining upon a reserve basis the pension system;

E. Accept for the benefit of the pension fund, all contributions, gifts, bequests and devises from any source whatsoever.

(Ord. 92-6 Div. 2 (part), 1992.)

A quorum of the pension board shall be a simple majority of the members.

(Ord. 92-6 Div. 2 (part), 1992.)

The city clerk shall act as the clerk of the pension board and shall keep a record of its proceedings.

(Ord. 92-6 Div. 2 (part), 1992.)

Except as provided in this chapter, the pension board shall have exclusive control of the administration and investment of the pension fund, and shall transmit to the director of finance an itemized list of the authority for all payments to be made from said fund for pensions currently payable and for all expenses of the pension board. The city shall pay all warrants therefore against said fund only when so authorized.

The director of finance and the trust officer for the pension fund may effect changes in the investment portfolio of the pension fund, and shall provide a written report documenting each such transaction to the pension board. The board shall ratify or otherwise direct changes in the investment portfolio at its next regular meeting.

(Ord. 92-6 Div. 2 (part), 1992.)

The pension board shall render annually on or before the fifth day of August a report for the previous fiscal year, showing all receipts and disbursements, the names of all persons on the pension roll, the amounts paid to such persons, and the balance remaining in said fund.

(Ord. 92-6 Div. 2 (part), 1992.)

In the event that the pension fund becomes inactive because there are no remaining beneficiaries of the pension fund, all moneys in the pension fund have been disbursed, there are no remaining reserves in the pension fund, and the pension fund has no further obligations, the pension board shall be dissolved and there shall be no requirement to perform any of the obligations of the pension board set forth in this chapter.

(Ord. No. 2025-01, § 2(Exh. A), 4-1-2025)