PENSIONS 2779

ARTICLE 73B.

PENSIONS.

1. Board of Trustees; powers; rules.

2. Chairman; Secretary; hearings.

3-4. Retirement on pension; amount.

1937, ch. 489, sec. 1.

1. There is hereby created a Retirement System under the manage-
ment and supervision of the Board of Trustees, which shall be constituted
as follows:

(1) The State Comptroller, Budget Director and Employment Com-
missioner, ex officio.

(2) Two citizens of the State, who are not employees within the mean-
ing of this Article, to be appointed by the Governor for a term of four
years; provided, however, that in making the first appointments here-
under, the Governor shall appoint one of said trustees to serve for a term
of two years and one to serve for a term of four years.

The members of said Board shall serve without compensation but shall
be reimbursed for all necessary expenses incurred through service on the
Board.

The said Board of Trustees shall have power to make rules and regula-
tions for the administration of this Article and to require any officer, board
or commission of the State to furnish it, upon application and without cost,
certified copies of any records or papers in their official custody, and to
require the attendance of witnesses and the production of papers, under
summons, subpoena or other process, before said Board when considered
necessary for the proper administration and enforcement of this Article
or of the regulations adopted pursuant thereto; and for this purpose the
said Board, or any member thereof, shall have the right to administer oaths
to such witnesses.

1937, ch. 489, sec. 2.

2. The Board of Trustees shall elect one of its members as Chairman
and the State Employment Commissioner shall be the Secretary. It shall
be the duty of the, Secretary to keep a record of all the proceedings of the
Board, to keep and maintain a list of all employees of the State who may
be retired under the provisions of this Article, to prepare semi-monthly
payrolls of such retired employees and forward same to the Comptroller
for payment, in accordance with such rules and regulations as said Board
may prescribe.

The said Board of Trustees shall be vested with all the powers necessary
and proper to enable it to carry out fully and effectually all the purposes
hereof. A majority of said Board shall constitute a quorum for the trans-
action of any business, the exercise of any power, or the performance of
any duty authorized or imposed by this Article.

The said Board may hold hearings when deemed necessary in the per-
formance of its duty, the hearings to be governed by the rules and regu-