The Board is composed of 7 members, including 1 member of the Police Plan and 2 members of the Basic Plan. The City Council appoints 3 city residents to the Board, the City Manager appoints one member, the Police Department elects one member, and members of the Basic Plan elect 2 members. All members serve 3 year terms.
The Board is vested with the general administration of and responsibility for operation of the city's Basic and Police Pension Plans. It makes recommendations on the selection of the person or company to handle the plans' investments, administration, and actuarial evaluation, and reviews the plans' investment practices. The Board also determines eligibility for disability retirement and advises the City Council.