Description
The Norfolk Employees' Retirement System (NERS) was established January 1,1942, in accordance of Norfolk City Code Chapter 37, for the purpose of providing retirement allowances and death benefits for employees of the City. The NERS Board of Trustees oversee the general administration, management, and proper operation of the State retirement plan.
Member Composition Details
The board shall consist of ten (10) trustees, as follows: The city manager, ex officio; the director of finance, ex officio; and eight (8) trustees appointed by the city council. Of the eight (8) trustees appointed by the city council, one member shall be an employee in the department of police or the department of fire, one shall be an employee of some department of the city other than the department of police or the department of fire, four (4) shall be citizens of the city, none of whom shall be members of the system and one of whom may be a retiree and two (2) shall be citizens of the city, each of whom shall be a responsible officer of a bank authorized to do business within the commonwealth, or who shall be experienced in the investment of funds, and neither of whom shall be a member of the system.