There shall be a pension commission in every city of the first class which shall consist of the following members:
In case of vacancy for any cause the commission may fill such vacancy until the next election.
The commission shall hold its annual meetings on January first in each year and elect its president, and such other officers as it deems advisable. The commission shall also at such meeting elect a secretary from or outside of the municipal employees, whose compensation the commission shall have power to fix.
The pension commission shall be known as the "municipal employees pension commission of the city of ".
All retirements shall be made and pensions allowed under this article, by this commission.
N.J.S. § 43:13-13