§88-29  Officers, employees, legal adviser. The board shall elect from its membership a chairperson, and by a majority voteof all its members, shall appoint an administrator and a chief investmentofficer who shall be exempt from chapter 76 and serve under and at the pleasureof the board.  Effective July 1, 2007, the salaries of the administrator andchief investment officer shall be set by the board.  The board shall engageactuarial and other services as shall be required to transact the business of thesystem.  The compensation for all services engaged by the board, and all otherexpenses of the board necessary for the operation of the system, shall be paidat rates and in amounts the board shall approve.

The attorney general or an appointed representativemay serve as legal adviser to the board or the board may select its own legalcounsel. [L 1925, c 55, §5(8), (11); RL 1935, pt of §7924; RL 1945, pt of §707;RL 1955, §6-66; HRS §88-29; am L 1969, c 110, pt of §1; am L 1990, c 142, §2;am L 1992, c 39, §1; am L 1999, c 167, §1; am L 2000, c 253, §150; am L 2003, c118, §2; am L 2007, c 215, §3]

 

Note

 

  Incumbent secretarymay be appointed as administrator by board of trustees.  L 1992, c 39, §2.