(a) Members.--Any city which creates a pension fund in accordance with this subchapter shall establish a pension board consisting of the mayor, the city controller, the superintendent of finance, two employees to be chosen by the employees contributing to the pension fund and, if members of council participate in the pension fund and are members of the fund, a member of council chosen by council.
(b) Duties.--It shall be the duty of the board to register all individuals employed by the city, administer the collections and distribution of the pension fund and make reasonable rules as the board may deem necessary.