Title
Ordinance Amending the Pittsburgh Code, Title One, Administrative, Article IX, Boards, Commissions, and Authorities, Chapter 176 Comprehensive Municipal Pension Trust Fund, Section 176.02 Membership, to alter the makeup of the membership of the Board of Trustees.
Body
Be it resolved that the Council of the City of Pittsburgh hereby enacts as follows:
Section 1. The Pittsburgh Code, Title One, Administrative, Article IX, Boards, Commissions, and Authorities, is hereby amended at Chapter 176, Section 176.02, as follows:
CHAPTER 176: COMPREHENSIVE MUNICIPAL PENSION TRUST FUND
§ 176.01 Board of Trustees
§ 176.02 Membership
§ 176.03 Terms and filling of vacancies
§ 176.04 Compensation
§ 176.05 Quorum and transaction of business
§ 176.06 Powers and duties
§ 176.07 Interpretation
§ 176.01 BOARD OF TRUSTEES.
There is hereby established pursuant to the requirements of the "Municipal Pension Plan Funding Standard and Recovery Act" (Act No. 205 of 1984, Public Law 1005, 53 P.S. 895.101 et seq.) (hereafter "Act") a Board of Trustees to be known as the Board of Trustees of the Comprehensive Municipal Pension Trust Fund to establish a trust fund to be known as the Comprehensive Municipal Pension Trust Fund and to invest and otherwise manage the assets of the Fund in accordance with the requirements of the Act.
176.02 MEMBERSHIP
The Board of Trustees of the Comprehensive Municipal Pension Trust Fund shall consist of seven (7) members to be determined according to the requirements of the Act. [Four (4)] Two (2) members shall be appointed by the Mayor subject to the approval of City Council. [from the managing Board of the City's various pension plans.] One (1) member of City Council shall be nominated and approved by City Council. One (1) Member shall be the City Council President. One (1) member shall be the City Controller. The remaining three (3) members shall consist of one (1) representative of the active membership of each pens...
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