§ 5-1-238. ADMINISTRATION AND OPERATION OF SYSTEM.

(a)

Board of Trustees and Director of Budget and Finance. The responsibility for the proper operation of the Retirement System and for making effective the provisions of this subtitle shall be vested in a Board of Trustees. The general administration of the Retirement System shall be vested in the Director of Budget and Finance.

(b)

Actuarial services and compensation. The Board of Trustees shall engage such actuarial and other services as shall be required to transact the business of the Retirement System. The compensation of all persons engaged by the Board of Trustees and all other expenses of the Board necessary for the operation of the Retirement System shall be paid at such rates and in such amounts as the Board of Trustees shall approve and in accordance with appropriations made by the employer.

(1988 Code, § 23-68) (Bill No. 49-96, § 13, 7-1-1996; Bill No. 32-03, § 1, 7-1-2004)