§31.200. In accordance with the provisions of §6C-10 of the Charter of the City, there shall be a Retirement Board constituted as recodified in Chapter 35 of this Code: §35.001. As required by §6C-10 of the Charter of the City, there shall be a City of Waterbury Retirement Board which, in addition to its other responsibilities and authority to administer the City of Waterbury Retirement System, shall, subject to the provisions hereinafter set forth, be authorized to perform Advisory Services as herein defined. The Retirement Board shall consist of seven (7) members appointed by the Mayor. No more than one (1) member of the Board shall be a currently employed management employee of the Department of Finance of the City, who shall serve a two-year term. No more than one (1) member shall be a currently-employed non-management employee, who shall be appointed for a four (4) year term. No more than one (1) member shall be a member of the Board of Aldermen, who shall be appointed for a two (2) year term. The remaining four (4) members of the Retirement Board shall have professional or business experience in the in the areas of investments, finance, actuarial principles or retirement plan administration or similar qualifications. Initially, two (2) of the four (4) members shall be appointed for a term of four (4) years and two (2) members for a term of two (2) years. Thereafter, as such members’ terms expire, the Mayor shall appoint each successor member for a four (4) year term with the exception of the public employees and Aldermen whose terms shall expire upon their separation from employment with the City or resignation or completion of the term of office.

The Board shall meet on the Second Monday of the month at 4:30 p.m.