[Ord. of 3-24-1999, § 1]
A permanent Pension Committee is hereby established.
[Ord. of 3-24-1999, § 2; Ord. of 12-12-2011]
The Pension Committee shall consist of five members who shall
be electors of the Town. The Director of Finance shall be an ex officio
member of the Committee. The members of the Committee shall be appointed
by the Mayor with the approval of the Town Council. The term of office
for the unfilled seat and the terms of office for the seats held by
appointed members of the Pension Committee on the effective date of
this revision shall continue in effect. The terms of two of the seats
shall expire on November 30, 2013, and the remaining three shall expire
on November 30, 2014. Thereafter, the terms of office shall remain
staggered such that two seats shall serve two-year terms and three
seats shall serve three-year terms commencing on December 1 and terminating
November 30. Any vacancy in any term of office of a member of the
Committee shall be filled in accordance with the provisions of § 1003
of the Charter.
[Ord. of 3-24-1999, § 3]
The Pension Committee shall monitor the pension investments
and assets of the Town.
