Sec. 6-400. - Preparation of pension and retirement system.

Within

one year after the effective date of this Charter, the board of pensions and retirement shall prepare with the aid of the law department and submit to the council for its consideration and enactment a comprehensive, fair and actuarially sound pension and retirement system covering all officers and employees of the city except that any system proposed and ordained shall not impair or diminish rights of officers and employees under any pension and retirement systems in force at the time of the adoption of this Charter and except that separate systems shall be maintained for city policemen and firefighters as long as payments by the State of Delaware of funds from taxes paid upon premiums by casualty and fire insurance companies render it desirable.

Sec. 6-401. - Administration of pensions and retirement benefits.

The board of pensions and retirement shall administer the pensions and retirement system of the city and shall examine and make recommendations as to the administration of any separate pension and retirement systems to which the city makes appropriations even though such systems are incorporated.