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Establishing Retirement System For Officers & Employees
TOWN OF EAST WINDSOR

The following ordinance was adopted at a special Town Meeting duly warned and held on March 29, 2011.

“ORDINANCE ESTABLISHING RETIREMENT SYSTEM FOR OFFICERS AND EMPLOYEES OF THE TOWN OF EAST WINDSOR”

Ordinance 70-1 is amended by adding the following new sections at the end thereof:

Section 1.      Pursuant to the provisions of Section 7-450 of the Connecticut General Statutes as amended, there shall be established in the Town of East Windsor a retirement system for officers and employees and their beneficiaries.

Section 2.      There is created in the Town of East Windsor a retirement board, established as the “Pension Board” in accordance with the East Windsor Charter.  Members of the retirement board shall be appointed in accordance with the Charter and shall serve without pay or other remuneration.

Section 3.      The retirement system for officers and employees and their beneficiaries shall be governed by the terms and conditions of the retirement and OPEB plans. The Town shall serve as the Plan Administrator of the retirement plan and shall have such powers and duties as set forth in the retirement plan with respect to the administration of the retirement plan, including, but not limited to, providing all proper instructions and directions to the Trustee regarding disbursements from the retirement plan.  The retirement board shall have the responsibility for oversight of the investment of the retirement plan.

Section 4.      Pursuant to the provisions of Section 7-450(a) of the Connecticut General Statutes, as amended, there shall be established in the Town of East Windsor a Trust Fund (“OPEB Trust”) to hold and invest all contributions and assets of the Town’s retiree health care plan (“OPEB Plan”).  The Board of Selectmen of the Town shall have the authority to amend or terminate the OPEB Trust.

Section 5.      The OPEB Trust shall be for the purpose of funding current and future post employment health care benefits for eligible retired employees in accordance with the OPEB Plan.  The OPEB Trust may also be for the purpose of funding any other post employment health and life plans as the Town may establish.  

Section 6.      The Town shall serve as the Plan Administrator of the OPEB Plan and shall have such powers and duties as set forth in the OPEB Plan and the OPEB Trust with respect to the administration of the OPEB plan, including, but not limited to, providing all proper instructions and directions to the Trustee regarding disbursements from the OPEB Trust.  The retirement board shall have the responsibility for oversight of the investment of the OPEB Trust.

The foregoing shall become effective fifteen (15) days after the publication thereof in a media having circulation in East Windsor.


Ord. 11-01                               Attest: _____________________________
Journal Inquirer                                        Joanne M. Slater, CCTC
April 4, 2011                                   Town Clerk of East Windsor