2006 New York Code - Duties Of Trustees.

 
    §  13-622 Duties of trustees. Such board of trustees shall have charge
  of and administer such fund. From time to time such board  shall  invest
  the  same,  or  any  part thereof, as they shall deem most beneficial to
  such fund and shall liquidate the assets of such fund to provide  moneys
  to  make  payments  pursuant  to the provisions of this subchapter. Such
  board is empowered to make all necessary contracts, take  all  necessary
  and  proper  actions  and proceedings in the premises; and make payments
  from such fund of pensions, allowances,  benefits,  grants,  awards  and
  payments  granted  in  pursuance  of this subchapter. Such trustees from
  time to  time  shall  establish  such  rules  and  regulations  for  the
  administration  of such fund as they may deem best. No payments whatever
  shall be allowed to, or made by, such trustees as  reward,  gratuity  or
  compensation  to  any person for salary or services rendered to, or for,
  such board of trustees.