Continuation and membership
16(1)The Pension Board established by
New Brunswick Regulation 81-34 under the Act is continued for the purposes of administering the plan.
16(2)The Board shall consist of the following persons:
(a)
six members elected by the committee;
(c)
a staff member from the Department of Finance and Treasury Board.
16(3)Of the members of the Board referred to in paragraph (2)(
a), 3 shall be employer representatives and 3 shall be employee representatives.
16(4)The staff member from the Department of Finance and Treasury Board is a member of the Board by virtue of his or her office and shall not be entitled to vote.
16(5)The Lieutenant-Governor in Council shall appoint the Chair of the Board and no person who is eligible to be appointed as an employer representative or an employee representative to the committee shall be eligible to be appointed Chair.
16(6)The Chair shall be appointed for a term of 2 years and may be reappointed.
16(7)An elected member of the Board shall be elected for a term of not longer than 4 years and may be re-elected.
16(8)An elected member of the Board shall assume office at the first meeting of the Board following the member’s election.
16(9)If an elected member of the Board becomes unwilling or unable to act or if a vacancy occurs on the Board for any other reason, at its next regular meeting the Board shall appoint an appropriate representative from a participating body to fill the vacancy.
16(10)A person appointed under subsection (9) shall serve the remainder of the term of the member whom he or she replaces.
2012, c.39, s.97; 2012, c.52, s.33; 2016, c.37, s.115; 2019, c.29, s.95