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



The attorney general or an appointed representative
may serve as legal adviser to the board or the board may select its own legal
counsel. [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, c
118, §2; am L 2007, c 215, §3]



 



Note



 



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