§ 14-88. Determination of contents of plan.

(a)

If and when the board of county commissioners shall determine to establish by appropriate action a retirement or pension system, the board of county commissioners shall determine who may be included as members of such retirement or pension system, and whether membership therein shall be compulsory or optional upon officials and employees. The board of county commissioners shall provide the method of making contributions to the pension fund and establish whether the same shall be supported and maintained wholly through contributions of the members thereof or by contributions of the members and the county jointly. The board of county commissioners may determine how such contributions will be calculated and accumulated, the method of payment, and who shall be the beneficiaries of the retirement or pension system. The board of county commissioners is authorized to make all administrative provisions necessary for the operation of the retirement or pension system or systems and determine how the administrative cost thereof shall be borne. Prior to the establishment of such a system, the board of county commissioners may secure from a competent actuary a report of the costs of establishing same and the method to be followed in the administration of same, if and when established.

(b)

The officials referred to in this section with reference to being eligible to membership in the retirement or pension system shall include appointed or elected officials. Elected officials shall include those elected by the popular vote of the people or by the board of county commissioners.

(c)

The provisions of the retirement and pension system shall constitute vested interests between the members, including retired beneficiaries, and the county.

(Code 1992, § 12-88; Priv. Acts 1945, ch. 72, § 3; Priv. Acts 1951, ch. 488, § 1; Priv. Acts 1955, ch. 197, § 1)