§ 70-528. Trustee.

(a)

Selection. The trustee of the elected officers' retirement system shall be the city treasurer.

(b)

Term of office. The term of office for the trustee shall be the term during which such person is the city treasurer.

(c)

Fiduciary responsibility. The trustee shall be the named fiduciary of the retirement system. As named fiduciary, the trustee shall discharge such person's duties and responsibilities with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity and familiar with such matters would use in the conduct of an enterprise of a similar character and with similar aims, and in accordance with ordinances and other applicable law, documents and other instruments governing the retirement system.

(Code 1960, § 24-77(a); Ord. No. 98-79, § 1, 6-23-1998)