(a) The Advisory Committee shall consist of 7 members selected as follows:
(1) One individual appointed by the Council of the District of Columbia;
(2) One individual appointed by the Mayor;
(3) Four individuals appointed by the Chief Financial Officer; and
(4) One individual who is either a member of the District of Columbia Retirement Board (“Board”) or a member of the Board’s professional staff.
(b) Advisory Committee members shall have expertise in one or more of the following areas:
(2) Employee benefits law;
(3) Financial advisory services;
(4) Government administration;
(5) Investment management; and
(6) Life and health insurance plans.
(c) Each member of the Advisory Committee shall serve a 5-year term.
(d) A vacancy on the Advisory Committee shall be filled in the same manner in which the original appointment was made.
(e) An Advisory Committee member whose term has expired may continue to serve as a member until a replacement member has been appointed.
(f) A member appointed to replace a member who has resigned, dies, or is no longer able to serve (as determined by the Advisory Committee) shall serve for the remainder of the unexpired term of the member being replaced.
(g) The Advisory Committee shall elect a chairperson by majority vote on an annual basis.
(h) Members shall serve without compensation, but shall receive actual and necessary expenses incurred in the performance of their official duties.
(i) The Mayor, Council, and Chief Financial Officer shall appoint members to the Advisory Committee within 90 days of December 17, 2014.