The general powers, authority, and duties of any police officers’ pension and retirement board shall be as follows:
1. To adopt bylaws and regulations which the board deems necessary to conduct its affairs;
2. To provide for appropriate clerical, legal, medical, and other services and to pay reasonable compensation for such services;
3. To require deductions from the salaries of active and paid members of the police department and to pay certain percentages of salaries, as hereinafter specified, into the treasury of the board to raise funds for the necessary purposes of the board in the administration of its affairs;
4. To draw warrants on the treasurer of the board, for the payment of pensions, benefits, and administrative costs. Warrants shall be signed in the name of the board and countersigned by its president; and
5. Upon request by the policemen’s pension and retirement board, the governing body of the county may by ordinance amend the retirement plan and trust at any time for the purpose of defining, enlarging and improving the benefits that any member thereof may receive and shall by ordinance amend the retirement plan and trust at any time for the purpose of compliance with federal or state law.