Originally adopted 12-16-1946 by Ord. No. 140. (Township Code, Ch. 45-1.) The Plan shall be administered in accordance with the provisions of the Act and under the terms of the Trust Agreement, made November 9, 1971, as amended and restated from time to time, approved by the BOC. The Plan shall be administered by 5 "Trustees", appointed by the BOC. All of the Trustees, except for the Police Trustee as hereafter provided, shall be residents of the Township and, except for the of BOC Trustee as hereafter provided, shall serve a 3-year term or until a successor qualifies. 1 of the Trustees shall be a member of the BOC ("BOC" Trustee") and 1 of the Trustees shall be an active duty member of the Police Department ("Police Trustee"). Both the BOC Trustee and the Police Trustee shall have Alternate members appointed for them, which Alternates may attend and participate in all meetings of the Trustees, but shall have no vote, except in the case of the absence of the appointed Trustee for whom such Alternate is appointed. The Chairman of the Trustees shall be selected by a majority vote from the Trustees other than the BOC Trustee and the Police Trustee. The BOCs may also appoint a corporate fiduciary to act as co-trustee. The Trustees, with the approval of the BOC, may also appoint an actuary, all reasonable expense therefor to be paid by the Township or as an administrative expense of the Plan.