§ 1000. Board of Trustees.

The Municipal Employees' Retirement Plan shall be administered by a Board of Trustees ("Board") under a Trust Agreement effective January 25, 1989, a copy of which is attached, made a part hereof and marked as "Exhibit A," and as amended by a First Amendment to Trust Agreement dated November 27, 2000, a copy of which is attached, made a part hereof and marked as "Exhibit B."

A.

Membership. Effective January 1, 1993, the Board shall consist of the following seven (7) members, appointed by the Mayor, subject to confirmation by a majority vote of the entire membership of the City Council:

1.

Two (2) active, classified Employee Participants in the Plan;

2.

One (1) retired Employee Participant who is receiving income from the Plan;

3.

Three (3) persons, each of whom shall be either the head of a City division or department, an elected City official, or an appointee of the Mayor in the unclassified service, as described in Article X, Section 5.B of the City Charter;

4.

One (1) person who shall not be a Participant in the Plan, a City employee or elected City official.

B.

Terms of Members. Effective January 1, 1993:

1.

The following members shall be appointed for terms of three (3) years;

a.

One (1) active, classified Employee Participant in the Plan; and

b.

One (1) head of a City division or department; elected City official; or an appointee of the Mayor in the unclassified service, as described in Article X, Section 5.B of the City Charter, appointed pursuant to paragraph 1000.A.3 above;

2.

The following members shall be appointed for terms of two (2) years:

a.

One (1) active, classified Employee Participant in the Plan; and

b.

One (1) head of a City division or department; elected City official; or an appointee of the Mayor in the unclassified service, as described in Article X, Section 5.B of the City Charter, appointed pursuant to paragraph 1000.A.3 above;

3.

The following members shall be appointed for terms of one (1) year:

a.

The member who is a retired Employee Participant receiving income from the Plan; and

b.

One (1) head of a City division or department; elected City official; or an appointee of the Mayor in the unclassified service, as described in Article X, Section 5.B of the City Charter, appointed pursuant to paragraph 1000.A.3 above.

Subsequently, all successors to these six (6) members shall be appointed to terms of three (3) years to begin on January 1 and end on December 31. The member who is not a Participant in the Plan, an employee or elected City official shall serve an indefinite term at the pleasure of the Mayor.

All members shall hold their offices until their successors are appointed and qualified. In the event of death, disability, resignation, dismissal or disqualification of any member of the Board, a successor shall be appointed for the remainder of that member's term.

C.

Organization. During the regular monthly meeting of the Board held in July, the Board shall elect from its membership a Chairperson and such other officers appropriate for the performance of its duties. The Administrator of the Plan shall serve as Secretary to the Board, and the City Attorney shall advise the Board on any legal matter related to the Plan.

D.

Meetings. The Board shall conduct regular meetings at least monthly and may meet specially at the discretion of the Chairperson or upon written request by a majority of the members of the Board. Upon receipt of a request for a special meeting, the Chairperson shall call a meeting as soon as reasonably possible, but not more than five (5) days after receipt of the request. Except as otherwise provided by law, the Board shall adopt rules and regulations to govern the conduct of its meetings. All meetings shall be open to the public as provided by the laws of Oklahoma.

(Ord. Nos. 17839, 18192, 19988, 20411)