§ 16.62-2. ADMINISTRATION BY RETIREMENT BOARD.

The Retirement Board shall have the exclusive authority to adopt such rules and regulations, and to prescribe such forms, as it deems necessary to carry out the purposes of the Plan. The Retirement Board shall manage the Plan in compliance with federal and state tax laws so that Plan benefits do not conflict with or reduce benefits under the Retirement System. The Retirement Board may employ consultants to advise the Board concerning the administration and investment of such funds as may be established.

The Retirement Board may contract with a financially responsible independent contractor to administer and coordinate the Plan under the direction of the Retirement Board. The Retirement Board may, in its discretion, establish guidelines or regulations for the bonding of any such contractor or any other person who handles funds or other assets of the Plan. Any such contractor shall agree to be responsible to the City and County of San Francisco for any and all services performed by a subcontractor, assignee or designee of contractor.

(Added by Ord. 242-02, File No. 040685, App. 9/30/2004)