This seven-member body exists for the purpose of generally directing the affairs of the city's retirement system, processing retirement and disability applications and reviewing investment policy, etc. The members are appointed by the mayor with the confirmation of the council. The membership is composed of a member of the Mayor and Council, the City Manager, three city employees, below assistant department head level, and two persons with previous business experience, one of whom will serve as the chairperson. Terms are for two years. The finance director is the executive secretary to the board (Chapter 15, Rockville City Code).