79-982 Employees retirement system; trustees; meetings; duties. - Nebraska Statutes

79-982. Employees retirement system; trustees; meetings; duties.The trustees shall (1) hold regular meetings annually and such special meetings at such times as may be deemed necessary, and all meetings of the trustees shall be open to the public, (2) keep a record of all the proceedings of such meetings, (3) subject to the approval of the board of education, invest all cash income not required for current payments in securities of the type provided in section 79-9,107 and so reinvest the proceeds from the sale or redemption of investments, and (4) supervise the financial affairs of the retirement system and recommend to the board of education any changes in the administration of the retirement system essential to the actuarial requirements of the fund. SourceLaws 1951, c. 274, § 5, p. 914; Laws 1955, c. 321, § 1, p. 992; Laws 1979, LB 187, § 242; Laws 1993, LB 107, § 3; R.S.1943, (1994), § 79-1036; Laws 1996, LB 900, § 617; Laws 2001, LB 711, § 7.