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In the event the assets at such date of repeal are insuf- <br />ficient to provide all of the benefits of paragraph (1) or (2) <br />above or both, then the employer will contribute to the assets <br />from time to time, as and when required, the a~ount necessary <br />to make up such insufficiency. <br /> <br /> {d) The allocation of assets of the system provided for <br />in subsection (c) of this section shall be carried out through <br />the payment by the board of the benefits provided for in this <br />section as they bscome due, or by the transfer of such assets <br />to any retirement system replacing this system; provided, <br />that such vesting of benefits as provided by this section shall <br />be fully maintained under such new retirement system. Any <br />funds remaining in the assets of this system after all of the <br />vested benefits provided by this section have been paid shall <br />revert to the general fund. <br /> <br /> (e) Any allocation of assets made in accordance with the <br />provisions of this section shall be final and binding on all <br />persons entitled to benefits under such provisions. <br /> <br />Section 31-208 - 31-212. Reserved. <br /> <br />DIVISION 2. Board of Trustees <br /> <br />Section 31-213. Establishment and designation; adaninistration <br /> of system. <br /> <br /> The system shal! be administered by a board of trustees to <br />be known as the "Board of Trustees of the Portsmouth Supplemental <br />Retirement System," which board is hereby established. <br /> <br />Section 31-2t4. <br /> <br />Composition; appointment, Germ, suspension <br />or removal and compensation of members; <br />vacancies. <br /> <br /> The board shall consist of seven (7) m~f0ers to be appointed <br />by the City Council and two (2) ex officio members. One (i) <br />ex officio member shall be the director of finance or his designee <br />and the other ex officio member shall be the director of <br />personnel or his designee. Of the voting members, one (1) shall <br />be an employee who is a member of the Portsmouth Employees <br />Supplemental Retirement System, or the Pertsmouth Supplemental <br />Retirement System, one (1) shall be an employe~ who is a member <br />of the Fire and Police Retirement System, and five ('5) shall be <br />other than employees or otherwise in the employ of ~he City. <br />The first appointment hereunder of members other than employees <br />or otherwise in ~he employ of the City shall b~ for terms as <br />follows: One for three (3) years and one for four {4) years. <br />Thereafter all appointments shall be made for a term of four <br />(4) years, except an appointment to fill a vacancy which shall <br />be for the unexpired term. Appointment of %he membe~ who is <br />a member of the fire and police retirement system shall alternate <br />each term between a member who is an employee of the police <br /> <br />8 <br /> <br /> <br />