EXECUTIVE DIRECTOR

(a) The board of trustees, by a majority vote of all members, shall appoint a person other than a member of the board to serve at the board's will as executive director. (b) The executive director is not a member of the board of trustees. (c) To be eligible to serve as the executive director, a person must: (1) be a citizen of the United States and have been a resident of the state for the three years immediately preceding the person's appointment; and (2) have executive ability and experience to carry out the duties of the office. (d) The executive director shall recommend to the board of trustees actuarial and other services required to transact the business of the retirement system. (e) Annually, the executive director shall prepare an itemized budget showing the amount required to pay the retirement system's expenses for the following fiscal year and shall submit the budget to the board of trustees for review and adoption. (f) Subject to Section 815.3016, the board of trustees may specifically delegate any right, power, or duty imposed or conferred on the executive director by law to another employee of the retirement system. If not so specifically delegated and subject to Section 815.3016, the executive director may delegate to another employee of the retirement system any right, power, or duty assigned to the executive director.