Boards and Commissions

BOARD OF DIRECTORS OF THE EMPLOYEES' RETIREMENT FUND

Authority for Creation: The operation of this Board was established by Ordinance No. 2999 adopted on September 24, 1952, which ordinance was amended by Ordinance No. 4861 on March 25, 1963, and Ordinance No. 7056 adopted on September 9, 1974. The Board, as it existed on November 1, 1982, was abolished on November 1, 1982, by Ordinance No. 8674 and an interim board appointed to administer the Fund until such time as a comprehensive revision of the Employees' Retirement Fund was adopted. Ordinance No. 8843, adopted on June 7, 1983, established a new board. Ordinance No. 8843 was amended by Ordinance No. 9247 on November 13, 1984. Ordinance No. 9247 was amended by Ordinance No. 10081 on March 24, 1988. Ordinance No. 10081 was amended by Ordinance No. 11126 on July 14, 1992. Ordinance No. 13842, adopted on June 22, 1999, changed name of board to Board of Directors of the Employees' Retirement Fund. Ordinance No. 13543, adopted August 11, 1998; Ordinance Nos. 13672, 13673 and 13674 were adopted on January 5, 1999. Ordinance No. 14641 was adopted on June 5, 2001, changing number of members and modifying employee groups. Resolution No. 3357-05-2006 was adopted on May 30, 2006, increasing the Board of Directors to 13 Directors. In 2007, the state legislature created Article 6243i of the Texas Revised Civil Statutes placing the Employees' Retirement Fund under the control of the legislature. In accordance with the state statute, Ordinance No. 17577-05-2007 was adopted May 29, 2007, changing the name back to the Board of Trustees of the City of Fort Worth Employees' Retirement Fund reducing number of trustees elected by active employees from seven to four, increasing the number of retirees serving on the Board from two to three, modifying the employee groups from which trustees are elected; increasing appointments by the City Council from four to five, and making the chief financial officer of the City a permanent member of the Board.

Composition: Thirteen trustees mandated by Article 6243i of the Texas Revised Civil Statutes.

Method of Appointment: Four trustees who are vested, participating members of the Fund, as defined by Article 6243i of the Texas Revised Civil Statutes, shall be elected by employees of the City who are also members of the Fund to serve in Places 1, 2, 3 and 4, respectively. Place 1 shall be elected by members of the Fund who are employed as police officers (Group A). Place 2 is elected by members of the Fund who are employed as firefighters (Group B). Place 3 is elected by members of the Fund who are assigned to work in the following departments: Water, Wastewater, Reprographics, Planning & Development, Budget & Management Services, City Manager, City Secretary, Engineering, Finance, Human Resources, Internal Audit, Legal, Municipal Court, including the Marshal's Office and the Zoo. It also includes employees of the Police Department who are not police officers (Group C). Place 4 is elected by members of the Fund assigned to work in the following departments: IT Solutions, Community Relations, Economic & Community Development, Housing, Retirement, Library, Parks & Community Services, Public Events, Public Health, Aviation, Code Compliance, Environmental Management, Equipment Service and Transportation/Public Works Departments. It also includes employees of the Fire Department who are not firefighters (Group D). Place 5 is elected by Retiree Group B, which consists of those retired members of the Fund from Employees Group B. Place 6 is elected by Retiree Group A, which consists of those retired members of the Fund from Employee Group A. Place 7 is elected by Retiree Group C, which consists of those retired members of the Fund from Employees Groups C and D. The trustees for Places 8, 9, 10, 11 and 12 shall be a resident of the City of Fort Worth and under this subsection may not be a member of the City Council. These trustees shall be appointed by a majority vote of the City Council. The trustee for Place 13 shall be the Chief Financial Officer of the City of Fort Worth.

Terms: Places 1, 2, 3, 4, 5, 6 and 7 are elected for two year terms. Trustees 1, 3, 5 and 7 shall be elected every odd numbered year beginning in 2007 and shall serve from September 1 of such odd numbered year through August 31 of the next odd numbered year. Places 2, 4 and 6 shall be elected in 2007, and thereafter, every even numbered year and shall serve from September 1of such even numbered year through August 31of the next even numbered year. The Trustees for Places 8, 10 and 12 are appointed by a majority vote of the City Council for a term to commence on September 1, 2007, and end on August 31,2008. Thereafter, the individuals appointed shall serve a two-year term(unless removed sooner by a majority of the City Council) commencing on September 1 of every even-numbered year. Places 9, 11 and 13 are appointed by a majority vote of the City Council for two-year terms (unless removed sooner by a majority of the City Council) commencing on September 1 of every odd-numbered year. Vacancies shall be filled by a majority vote of the City Council. Members of the Board shall remain in office until their successors are duly elected or appointed.

Trustees are considered to be officers of the City of Fort Worth.

General Powers and Duties: The Board shall have full power to make any and all rules and regulations pertaining to the Fund not inconsistent with Article 6243i of the Texas Revised Civil Statutes and the Constitution and laws of the State of Texas. The Board shall be the trustee of the Fund and shall have full power, at its sole discretion, to invest and reinvest the assets of the Fund, including undistributed income. In acquiring, investing, reinvesting, exchanging, retaining, selling, supervising, and managing the funds held, the Board shall exercise the judgment and care under the circumstances then prevailing which persons of ordinary prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income there from as well as the probable safety of their capital.

Meeting Time and Place: Meets in the Retirement Office Conference Room on fourth Wednesday of each month at 8:30 a.m. For meeting agendas, please see the Boards, Commissions and Committees page.

Present Membership:

Chairperson: Billy Samuel

Department Contact: Ruth Ryerson, Executive Director/CIO, 817-632-8919