There is hereby established in the Town of Wolcott a permanent
committee to be known as the "Permanent Pension Committee."
The duties and responsibilities of said Committee shall be:
A. To oversee and periodically review investment policies, pension plan
design and actuarial data as the same may affect any and all defined
pension plans which apply to those officials and employees of the
Town who are not employed by the Board of Education.
B. To periodically make recommendations to the investment manager and
trustee of said plans as to investment policy, officials and employees
covered, plan design, plan implementation and actuarial proposals.
C. To periodically make recommendations to the Mayor and Town Council
pertaining to the implementation of any actions which may affect said
defined benefit plans, pension plan design and pension policy.
D. To submit to the Town Council at six-month intervals a written report
of its activities.
The Permanent Pension Committee established by this chapter
shall not be organized and shall not commence the performance of its
duties and responsibilities as described herein until a date no earlier
than 60 days from the date of the municipal election of November 1995.