§ 382 — General powers

§ 382 General powers.

Subject to the provisions of sections 388 and 391, the board shall have full authority under the Charter and such general ordinances as may be lawfully adopted by the city council to maintain and manage retirement plans of this system, including but not limited to the adoption of investment standards, the fixing of contribution rates, the administration and investment of funds, the selection of investment advisors, the crediting of interest, any action required of it by the Charter and any action relating to the fiscal management of the system except those matters directly pertaining to claims for benefits, and claims for refunds under former (1989) Charter section 436, filed with the retirement system manager. All references to the "retirement board" or "board" in former (1976) Charter sections 167 to 175.29, inclusive (and ordinances enacted to maintain and implement the retirement plans created by said sections) and former (1976) Charter sections 290 to 367 inclusive (and ordinances enacted to maintain and implement the retirement plans created by said sections) shall mean the Administration, Investment and Fiscal Management Board; provided, however, nothing herein shall divest the Retirement Hearing Commission of the appellate powers granted to it by section 388 of this Charter; and when said commission has jurisdiction by virtue of an appeal having been lawfully taken to the commission, all references to the "retirement board" or "board" in such former Charter sections and ordinances shall mean the Retirement Hearing Commission. It is further provided that nothing herein shall divest the retirement system manager of the powers granted to him or her by section 391 of this Charter; and when said manager has jurisdiction by reason of a claim for benefits having been lawfully filed with him or her, all references to the "retirement board" or "board" in such former (1976) Charter sections and ordinances shall mean the retirement system manager. The board may adopt rules and regulations consistent with this article to implement and carry out its provisions. (Amended June 6, 1989)