Section 23582 - Administration(a) The administration of the provisions of this act shall be charged to the board which shall consist of the mayor, the city controller, the president of the city council, and two employees to be chosen by the employees contributing to the fund.(b) The board shall have the following powers and duties:(1) To adopt and promulgate rules and regulations for the administration of the fund.(2) To register all employees who are members of the fund.(3) To administer the collection and crediting of contributions to the fund.(4) To grant such pensions and other payments as are herein provided and to pay over by warrant or check such amounts.(5) To administer the fund and when deemed advisable, to invest the moneys in accordance with the provisions of this act.(6) To perform such other functions as are required for the execution of the provisions of this act.(c) Any action taken by the board shall be recorded in writing, approved by the majority of its members and signed either by such majority or by a person authorized by the board to so act.(d) The board shall prepare annually a report, which shall be submitted to the city council, showing in reasonable summary the assets and liabilities of the fund and giving a brief account of the operation of the fund for the past year.(e) The members of the board may rely upon tables, valuations and reports furnished by qualified professional consultants.(f) The heads of every department and office employing persons eligible for membership shall certify each pay period to the board the names of such employees, the amount of salary or wages paid to each employee, together with any dismissals, resignations, leaves of absence or terminations of service and such other relevant information as the board may require.(g) Each application for a pension shall be made in writing to the board on a form provided by the board. The board may require any applicant for pension to furnish such reasonable information as may be necessary to process the application. 1975, Aug. 1, P.L. 169, No. 87, § 2, effective Jan. 1, 1975.