There is hereby created the fire and police members’ benefit investment fund, which shall consist of the portion of the assets that are designated for investment by the board of the following plans: The defined benefit system established in part 2 of this article; Old hire police and fire pension plans established in article 30.5 […]
The board shall be the trustee of the fire and police members’ benefit investment fund and shall have full and unrestricted discretionary power and authority to invest and reinvest such portions of the fund as in its judgment may not be immediately required for the payment of refunds or benefits. In exercising its discretionary authority […]
The board shall be the trustee of the fire and police members’ self-directed investment fund subject to the members’ allocation of moneys in their accounts to the alternatives offered by the board. A member who exercises control over the plan assets in the members’ account shall not be deemed to be a fiduciary by reason […]
