A. The Board shall employ a chief executive officer to direct, manage, and administer the Plan, and who shall be authorized to employ such staff as necessary to accomplish the Plan’s stated objectives.

B. The chief executive officer shall demonstrate extensive experience in management, finance, law, regulatory affairs and/or investments, and such other qualifications as the Board may set.

C. The chief executive officer shall, in addition to such other duties as the Board may establish, (i) oversee the development, structure, evaluation, and implementation of the Plan’s strategic goals and objectives; (ii) facilitate communication among and between the Board, advisory committees, employees, account owners, beneficiaries, and outside entities interested in the Plan; (iii) enhance the Board’s ability to make effective and prompt decisions in all matters related to the administration of the Plan; (iv) with the assistance of the Investment Advisory Committee appointed by the Board and investment consultants, direct, manage, and administer the Plan’s assets and programs; and (v) report periodically and as requested to the Board.

History

1994, c. 661; 2009, cc. 827, 845.