§ 36-8-4 Composition of retirement board.– (a) There is hereby authorized, created and established in the office of thegeneral treasurer an independent retirement board which shall hold andadminister, in trust, the funds of the retirement system in accordance with theprovisions of chapters 8 – 10 of this title and shall perform suchfunctions as authorized by law. The membership of the retirement board shallconsist of: the general treasurer or his or her designee who shall be asubordinate within the general treasurer's office; the director ofadministration or his or her designee who shall be a subordinate within thedepartment of administration; a representative of the budget office or his orher designee from within the budget office, who shall be appointed by thedirector of administration; the president of the league of cities and towns orhis or her designee; two (2) active state employee members of the retirementsystem or officials from state employee unions to be elected by active stateemployees; two (2) active teacher members of the retirement system or officialsfrom a teachers union to be elected by active teachers; one active municipalemployee member of the retirement system or an official from a municipalemployees union to be elected by active municipal employees; two (2) retiredmembers of the retirement system to be elected by retired members of thesystem; and four (4) public members, all of whom shall be competent by trainingor experience in the field of finance, accounting or pensions; two (2) of thepublic members shall be appointed by the governor, one of whom shall serve aninitial term of three (3) years and one of whom shall serve an initial term offour (4) years and until his or her successor is appointed and qualified; andtwo (2) of the public members shall be appointed by the general treasurer, oneof whom shall serve an initial term of three (3) years and one of whom shallserve an initial term of four (4) years and until his or her successor isappointed and qualified. Thereafter, the term of these four (4) public membersshall be for four (4) years or until their successors are appointed andqualified. Meetings shall be open to the public in accordance with theprovisions of chapter 42-46 of the general laws. Any member of the generalpublic who was appointed by the governor prior to the effective date of thisact [July 4, 2006] shall continue to serve until such time as asuccessor is appointed and qualified. Any member who was elected prior to theeffective date of this act [July 4, 2006] shall serve for theremainder of his or her elected term.
(b) Meetings shall be held at such place as may be designatedin the call of the meeting, provided at no cost to the state, at least monthlyat the call of the chair.
(c) The elected members of the retirement board shall beseated by the following procedure:
(1) Each candidate for a position on the board must have onehundred (100) signatures of members of their respective group.
(2) The term of office for elected members shall be for four(4) years, and election of their successors shall be given by the board priorto the expiration of the terms of the incumbent elected members.
(3) By petition for recall of twenty percent (20%) of therespective membership of the various groups a new election shall be ordered bythe retirement board.
(d) All gubernatorial and general treasurer appointments madeunder this section after the effective date of this act [July 4,2006] shall be subject to the advice and consent of the senate. No oneshall be eligible for appointment unless he or she is a resident of this state.
Public members of the board shall be removable by the chairfor cause only, and removal solely for partisan or personal reasons unrelatedto capacity or fitness for the office shall be unlawful.
Newly appointed and qualified public members shall, withinsix (6) months of their appointment, attend a training course that shall bedeveloped and provided by the office of the general treasurer and shall includeinstruction in the following areas: the provisions of chapters 42-46, 36-14 and38-2 of the Rhode Island general laws, the retirement statutes; and the board'srules and regulations. The director of the department of administration shall,within ninety (90) days of the effective date of this act [July 4,2006], prepare and disseminate training materials relating to theprovisions of chapters 42-46, 36-14 and 38-2.
§ 36-8-4 Composition of retirement board.– (a) There is hereby authorized, created and established in the office of thegeneral treasurer an independent retirement board which shall hold andadminister, in trust, the funds of the retirement system in accordance with theprovisions of chapters 8 – 10 of this title and shall perform suchfunctions as authorized by law. The membership of the retirement board shallconsist of: the general treasurer or his or her designee who shall be asubordinate within the general treasurer's office; the director ofadministration or his or her designee who shall be a subordinate within thedepartment of administration; a representative of the budget office or his orher designee from within the budget office, who shall be appointed by thedirector of administration; the president of the league of cities and towns orhis or her designee; two (2) active state employee members of the retirementsystem or officials from state employee unions to be elected by active stateemployees; two (2) active teacher members of the retirement system or officialsfrom a teachers union to be elected by active teachers; one active municipalemployee member of the retirement system or an official from a municipalemployees union to be elected by active municipal employees; two (2) retiredmembers of the retirement system to be elected by retired members of thesystem; and four (4) public members, all of whom shall be competent by trainingor experience in the field of finance, accounting or pensions; two (2) of thepublic members shall be appointed by the governor, one of whom shall serve aninitial term of three (3) years and one of whom shall serve an initial term offour (4) years and until his or her successor is appointed and qualified; andtwo (2) of the public members shall be appointed by the general treasurer, oneof whom shall serve an initial term of three (3) years and one of whom shallserve an initial term of four (4) years and until his or her successor isappointed and qualified. Thereafter, the term of these four (4) public membersshall be for four (4) years or until their successors are appointed andqualified. Meetings shall be open to the public in accordance with theprovisions of chapter 42-46 of the general laws. Any member of the generalpublic who was appointed by the governor prior to the effective date of thisact [July 4, 2006] shall continue to serve until such time as asuccessor is appointed and qualified. Any member who was elected prior to theeffective date of this act [July 4, 2006] shall serve for theremainder of his or her elected term.
(b) Meetings shall be held at such place as may be designatedin the call of the meeting, provided at no cost to the state, at least monthlyat the call of the chair.
(c) The elected members of the retirement board shall beseated by the following procedure:
(1) Each candidate for a position on the board must have onehundred (100) signatures of members of their respective group.
(2) The term of office for elected members shall be for four(4) years, and election of their successors shall be given by the board priorto the expiration of the terms of the incumbent elected members.
(3) By petition for recall of twenty percent (20%) of therespective membership of the various groups a new election shall be ordered bythe retirement board.
(d) All gubernatorial and general treasurer appointments madeunder this section after the effective date of this act [July 4,2006] shall be subject to the advice and consent of the senate. No oneshall be eligible for appointment unless he or she is a resident of this state.
Public members of the board shall be removable by the chairfor cause only, and removal solely for partisan or personal reasons unrelatedto capacity or fitness for the office shall be unlawful.
Newly appointed and qualified public members shall, withinsix (6) months of their appointment, attend a training course that shall bedeveloped and provided by the office of the general treasurer and shall includeinstruction in the following areas: the provisions of chapters 42-46, 36-14 and38-2 of the Rhode Island general laws, the retirement statutes; and the board'srules and regulations. The director of the department of administration shall,within ninety (90) days of the effective date of this act [July 4,2006], prepare and disseminate training materials relating to theprovisions of chapters 42-46, 36-14 and 38-2.
§ 36-8-4 Composition of retirement board.– (a) There is hereby authorized, created and established in the office of thegeneral treasurer an independent retirement board which shall hold andadminister, in trust, the funds of the retirement system in accordance with theprovisions of chapters 8 – 10 of this title and shall perform suchfunctions as authorized by law. The membership of the retirement board shallconsist of: the general treasurer or his or her designee who shall be asubordinate within the general treasurer's office; the director ofadministration or his or her designee who shall be a subordinate within thedepartment of administration; a representative of the budget office or his orher designee from within the budget office, who shall be appointed by thedirector of administration; the president of the league of cities and towns orhis or her designee; two (2) active state employee members of the retirementsystem or officials from state employee unions to be elected by active stateemployees; two (2) active teacher members of the retirement system or officialsfrom a teachers union to be elected by active teachers; one active municipalemployee member of the retirement system or an official from a municipalemployees union to be elected by active municipal employees; two (2) retiredmembers of the retirement system to be elected by retired members of thesystem; and four (4) public members, all of whom shall be competent by trainingor experience in the field of finance, accounting or pensions; two (2) of thepublic members shall be appointed by the governor, one of whom shall serve aninitial term of three (3) years and one of whom shall serve an initial term offour (4) years and until his or her successor is appointed and qualified; andtwo (2) of the public members shall be appointed by the general treasurer, oneof whom shall serve an initial term of three (3) years and one of whom shallserve an initial term of four (4) years and until his or her successor isappointed and qualified. Thereafter, the term of these four (4) public membersshall be for four (4) years or until their successors are appointed andqualified. Meetings shall be open to the public in accordance with theprovisions of chapter 42-46 of the general laws. Any member of the generalpublic who was appointed by the governor prior to the effective date of thisact [July 4, 2006] shall continue to serve until such time as asuccessor is appointed and qualified. Any member who was elected prior to theeffective date of this act [July 4, 2006] shall serve for theremainder of his or her elected term.
(b) Meetings shall be held at such place as may be designatedin the call of the meeting, provided at no cost to the state, at least monthlyat the call of the chair.
(c) The elected members of the retirement board shall beseated by the following procedure:
(1) Each candidate for a position on the board must have onehundred (100) signatures of members of their respective group.
(2) The term of office for elected members shall be for four(4) years, and election of their successors shall be given by the board priorto the expiration of the terms of the incumbent elected members.
(3) By petition for recall of twenty percent (20%) of therespective membership of the various groups a new election shall be ordered bythe retirement board.
(d) All gubernatorial and general treasurer appointments madeunder this section after the effective date of this act [July 4,2006] shall be subject to the advice and consent of the senate. No oneshall be eligible for appointment unless he or she is a resident of this state.
Public members of the board shall be removable by the chairfor cause only, and removal solely for partisan or personal reasons unrelatedto capacity or fitness for the office shall be unlawful.
Newly appointed and qualified public members shall, withinsix (6) months of their appointment, attend a training course that shall bedeveloped and provided by the office of the general treasurer and shall includeinstruction in the following areas: the provisions of chapters 42-46, 36-14 and38-2 of the Rhode Island general laws, the retirement statutes; and the board'srules and regulations. The director of the department of administration shall,within ninety (90) days of the effective date of this act [July 4,2006], prepare and disseminate training materials relating to theprovisions of chapters 42-46, 36-14 and 38-2.
