The following definitions shall be applicable to Article
III:
ERRORS AND OMISSIONS INSURANCE
Insurance protecting the insured from negligent acts or negligent
failures to act by professional consultants and advisors.
FIDELITY BOND
A bond or other equivalent insurance obtained by a fiduciary
to protect the insured against theft or other wrongful use of the
funds for the benefit of a party other than the insured.
FUNDING AGENT
A bank, trust company, or other depository institution acting
as a custodian of one or more of the Funds in whole or in part.
FUND
Any of the following and "Funds" means two or more of them:
A.
Employees' Retirement System Trust Fund created under Chapter
37, Article
I.
B.
Employees' OPEB Trust Fund created under Chapter
37, Article
II.
FUND and FUNDS
Also includes the Police and Fire Retirement Plan Fund created under Section of 10.7 of the Town of Fairfield Charter and the Police and Fire OPEB Trust Fund created under Chapter
37, Article
II, so long as the direction has been made pursuant to §
37-19B.
INVESTMENT ADVISOR
A corporation, partnership, limited liability company, or
limited liability partnership registered with the United States Securities
and Exchange Commission under the Investment Advisors Act of 1940
selected by the Investment Board after a request for qualifications
published by the Town Purchasing Authority.
INVESTMENT MANAGER
A corporation, partnership, limited liability company, or
limited liability partnership, including banks or insurance companies,
selected by the Investment Board after consultation with the Investment
Advisor to invest the Funds.
INVESTMENT POLICY
The Investment Policy and Guidelines adopted by the Investment Board pursuant to §
37-21D, as it may exist from time to time.
OPEB
Other post-employment benefit.
PLAN ADMINISTRATOR
The Town as administrator of the Employees' Retirement
System, the Police and Fire Retirement Plan, and the OPEBs.