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Section 12 <br />Board of Trustees <br />12.01 Appointment, Term of Service and Removal. The Board of Trustees shall administer <br />this Plan. The members shall serve until their resignation, death, removal, or their <br />term otherwise expires. Any member may resign at any time by mailing a written <br />resignation to the Board of Trustees. Any member may be removed in accordance with <br />the Act. Likewise, vacancies may be filled in accordance with the Act from time to time. <br />12.02 Members of the Board of Trustees. The members of the Board of Trustees shall consist <br />of the members as set forth in Section 19 of the Act. Effective as of the Effective Date <br />and thereafter, there will be no "participating members" of the Fund. The three <br />members of the Board of Trustees who were participating members shall continue to <br />serve out their term. Thereafter, the members of the board of trustees as provided by <br />Subdivisions (1) and (2) of subsection (a) of Section 19 of the Act shall appoint <br />additional board members. These board members will be members of the Fund. <br />12.03 Powers. The Board of Trustees is a fiduciary. It has the exclusive responsibility for the <br />general administration of the Fund, and has all powers necessary to accomplish that <br />purpose, including but not limited to the following rights, powers, and authorities: <br />a. To make rules for administering the Fund so long as they are not inconsistent <br />with the terms of the Fund; <br />b. To construe all provisions of the Fund and trust or trusts; <br />C. To correct any defect, supply any omission, or reconcile any inconsistency <br />which may appear in the Fund or trust or trusts; <br />d. To select, employ, and compensate at any time any consultants, actuaries, <br />accountants, attorneys, and other agents and employees the Board of Trustees <br />believes necessary or advisable for the proper administration of the Fund; <br />e. To determine all questions relating to eligibility, Service, Compensation and all <br />other matters relating to benefits; <br />f. To resolve all controversies relating to the administration of the Fund, including <br />but not limited to any differences of opinion arising between the Board of <br />Trustees and the City or a Firefighter, or any combination of them and any <br />questions it believes advisable for the proper administration of the Fund; <br />g. To direct or to appoint an investment manager or managers who can direct the <br />Board of Trustees in all matters relating to the investment, reinvestment and <br />management of the Fund; provided, however such investment of assets shall <br />be in accordance with Section 27 of the Act, as amended from time to time; <br />h. To direct the payment of Plan benefits; <br />To delegate any clerical or recordation duties as it believes is advisable to <br />properly administer the Fund; and <br />To take all other such actions that are not inconsistent with the Act and to <br />operate the Plan in accordance with the Act. <br />27 <br />