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Management Audit of Pensions
The City mandates the Mayor, City Council, and Controller to jointly require a management audit of the business and property of each of the pension and retirement systems once every five years by an independent qualified management auditing firm. The audits shall examine whether the pension or retirement system is operating in the most efficient and economical manner and evaluate the asset allocation of the system. The firm employed to conduct the audit shall be selected by the Mayor, Council and Controller (Oversight Committee).
