[Adopted 8-26-2008 by Ord. No. 2008-25]
Pursuant to N.J.S.A. 43:15C-2, the following
positions are deemed eligible and shall participate in the Defined
Contribution Retirement Program:
D. Director of Municipal Utilities.
E. Director of Public Works.
F. Director of Public Safety.
G. Superintendent of Public Works.
H. Superintendent of Utilities.
Individuals serving in the following positions
are exempt from Defined Contribution Retirement Program membership,
pursuant to N.J.S.A. 43:15C-2:
A. Building Sub Code Official.
C. Construction Code Official.
E. Qualified Purchasing Agent.
F. Registered Municipal Clerk.
Notwithstanding the above, individuals who are
already enrolled in a Public Employees Retirement System (PERS) position
may continue Defined Contribution Retirement Program their PERS position
when serving in a Defined Contribution Retirement Program position
as long as employment is continuously according to the law.
This article shall be implemented, construed
and subject to the aforesaid Chapter 92 of the Laws of 2007 (N.J.S.A.
43:15C-1 et seq.), as amended from time to time, and any regulation
or guidance documents from the Local Finance Board or the Division
of Pension and Benefits.
[Adopted 2-23-2010 by Ord. No. 2010-1]
This article shall be known as "Retirement, Article
II, Post-Retirement Health Benefits."
The Township of Medford does hereby commit to assist employees
of the Township by providing post-retirement health benefits as authorized
by N.J.S.A. 40A:10-22 et seq. The Township Council recognizes and
values the hard work and commitment of these Township employees. The
Township Council also realizes that post-retirement health benefit
costs are on the rise and, under the authority of N.J.S.A. 40A:10-22
et seq., implements this chapter to provide qualifying employees post-retirement
health benefits.