[Adopted 3-3-2009]
A. 
In accordance with C.G.S. § 7-450(a), the Town shall establish a trust fund ("trust") to hold and invest all contributions and assets of the Town’s retiree health care plan ("plan"). The Board of Directors of the Town shall have the authority to amend or terminate the trust.
B. 
The trust shall be for the purpose of funding current and future postemployment health care benefits for eligible retired employees in accordance with the plan. The trust may also be for the purpose of funding any other postemployment health and life plans as the Town may establish.
C. 
The Pension Board described in § 70-27 shall serve as trustee ("trustee") of the trust. The trustee shall have such powers and duties as set forth in the terms of the trust, including, but not limited to, investing the assets of the trust and making payments or other disbursements in accordance with the plan and the terms of the trust.
D. 
The Finance Director shall serve as the plan administrator of the plan and shall have such powers and duties as set forth in the plan and the trust with respect to the administration of the plan, including, but not limited to, providing all proper instructions and directions to the trustee regarding disbursements from the trust.
[1]
Editor’s Note: Former § 70-36 was renumbered as § 70-59 to accommodate the new Arts. III and IV.