Retirement Plan Board
The purpose of the Retirement Plan Board is to administer participant benefits, eligibility and benefit payments, adopt procedures for the conduct of the plan, and employ or delegate powers and responsibilities to outside agents for which it has been assigned.
This board also reviews the stability of the retirement plan that the city offers to its regular employees and routinely considers all requests for distribution from the plan. Members of this board meet with participants to assist them in understanding investment and retirement options.
At a Glance
|Established by||Resolution 1989-3|
|Number on Board||Five|
|Length of Term||Four years, staggered|
|Regular Meeting Time||Annual meeting in May and as needed|
|Regular Meeting Location||NA|
Special Membership Requirements
Membership shall consist of the city treasurer, two persons elected by plan-eligible employees, and two chosen by the City Council. State statute requires members be city residents.
The City of Durango Retirement Plan Board:
- Administers participant benefits, eligibility, and benefit payments
- Adopts procedures for the conduct of the plan
- Has the power to employ or delegate powers and responsibilities to outside agents for which it has been assigned
|Devon Schmidt, Acting Director of Finance, Treasurer||NA||NA|