A.
Pension Board.
(1)
Powers. The management and control of the plan are vested in the
Pension Board. The Pension Board shall have the power to make reasonable
rules and regulations for carrying out the provisions of this Subpart
E and may employ such assistance as is necessary for such purpose.
(2)
Membership. The Pension Board shall consist of seven members as follows:
(a)
Four electors of the Town to be appointed by the Board of Directors;
(b)
One at-large representative who shall be a retired employee
of the Town and appointed by the Board of Directors;
(c)
One employee of the Town jointly recommended by the combined
unions covered by the Town's pension plan and appointed by the Board
of Directors; and
(d)
One employee of the Town recommended by the General Manager
of the Town for appointment by the Board of Directors.
(3)
Term. The members of the Pension Board shall be appointed for four-year terms and shall continue until a qualified successor has been appointed. Notwithstanding the foregoing, the terms of the members of the Pension Board described in Subsection A(2)(b) and (c) above shall be appointed for a one-year term and shall not continue beyond that term regardless of whether a successor has been appointed. Terms shall be staggered so that one term expires each year.
(4)
Removal. Any appointed member of the Pension Board may be removed
in the manner provided in the Town Charter for the removal of any
officer or employee appointed by the Board of Directors.
(5)
Vacancies. The Board of Directors shall fill any vacancy in the term
of any appointed member of the Pension Board for the remainder of
that member's term of office.
(6)
Hearings. A majority of the members of the Pension Board shall be
present at the hearings, and any decision of the Pension Board shall
be final and conclusive as to any parties in interest.
B.
Required reports to Pension Board. The Town and the Board of Education
shall promptly report to the Pension Board the name, date of birth
(together with such evidence of such date as the Board may require),
and the date of the beginning of continuous employment of each employee
and the date the employee has authorized the Town to make the required
deductions from his or her pay. The Town and the Board of Education
shall immediately report to the Pension Board a member's commencement
of a period of absence from active contributory service without pay
and the termination of the employment of such member.
C.
Retirement Allowance Fund.
(1)
Appropriations. The Retirement Allowance Fund shall be managed by
the Pension Board and held in the custody of the Director of Finance,
or in the custody of a custodian or a custodian investment adviser
appointed by the Pension Board. The Pension Board shall hereafter
make recommendations to the Board of Directors of the amount of appropriation
required for each fiscal year which, together with the mandatory contributions
received, will equal the estimated average annual requirements of
the plan. The Board of Directors shall make an appropriation for each
fiscal year which shall satisfy such requirements.
(2)
Investment. One hundred percent of the Retirement Allowance Fund,
except for that part which, in the opinion of the Pension Board, shall
be necessary to meet current obligations of the plan, may be invested
under the supervision of the Director of Finance and the Pension Board
in accordance with applicable law.
D.
Workers' compensation awards to be deducted. All monies received
by any member as an award payable by the Town under the Workers' Compensation
Act or State of Connecticut General Statutes § 7-433(c)
shall be deducted from any payments provided for under the plan.
E.
Deprivation of benefits for malfeasance and misfeasance. No member shall receive retirement benefits, disability payments or other payments from this plan unless his or her record of service with the Town is and remains free from malfeasance and misfeasance. Any member who loses the right to that part of the benefit payments provided by contributions of or appropriations by the Town in accordance with this section shall thereafter be ineligible to participate in the plan and shall have the right to withdraw his or her contributions from the plan in accordance with § 70-50A except as provided under applicable law.
F.
Reservation of right to amend pension ordinances. The right of the Town to amend or repeal the provisions of these pension ordinances at any time and from time to time, and to alter or vary the rate or amount of contributions required to the Retirement Allowance Fund, or the benefits payable, or the method of computation of any pension payments at any time, is expressly reserved and the right of any member, retired member, official or employee of the Town against the Town in any way arising out of the provisions of these pension ordinances shall be limited to the refund of any payments made by such person to the Retirement Allowance Fund as provided in § 70-50A.
G.
Qualified domestic relations orders.
(1)
General rules. Notwithstanding anything contained in this Subpart
E to the contrary, in the case of any qualified domestic relations
order, a distribution may be made pursuant to this section.
(2)
ALTERNATE PAYEE
DOMESTIC RELATIONS ORDER
QUALIFIED DOMESTIC RELATIONS ORDER
(a)
(b)
[1]
[2]
[3]
[4]
(c)
[1]
[2]
Definitions. The following definitions will be used within this section:
Any spouse, former spouse, child or other dependent of a
member who is recognized by a domestic relations order as having a
right to receive all or a portion of the benefits payable under the
ordinance with respect to such member.
Any judgment, decree, or order (including approval of a property
settlement agreement) which:
A domestic relations order (as defined herein) which:
Creates or recognizes the existence of an alternate payee's
right to, or assigns to an alternate payee the right to, receive all
or a portion of the benefits payable with respect to a member;
Clearly specifies:
The name and last known mailing address of the member and the
name and mailing address of each alternate payee covered by such order;
The amount or percentage of the member's accrued benefit to
be paid by the ordinance to each such alternate payee, or the manner
in which such amount or percentage is to be determined;
The number of payments or period to which such order applies;
and
Each ordinance to which such order applies; and
Does not require:
The ordinance to provide any type or form of benefit, or any
option, not otherwise provided under the ordinance; and
The payment of benefits to an alternate payee which are required
to be paid to another alternate payee under another order previously
determined to be a qualified domestic relations order.
(3)
Distributions. Distributions pursuant to a qualified domestic relations order shall only be made in the manner, form and time as the distribution rules set forth in § 70-47 of Subpart D.
(4)
Notice. Upon receipt of a domestic relations order, the Pension Board
shall promptly notify the member and any alternate payee of the receipt
of such order and the procedures for determining the qualified status
of such order. After making a determination as to the qualified status
of such order, the Pension Board shall notify the member and each
alternate payee of such determination.
(5)
Procedures. Upon receipt of a domestic relations order, the Pension
Board shall give due consideration and review to the order and shall
determine whether or not the order is qualified within nine months
of receipt of such order unless special circumstances require an extension
of time to determine the qualified status of such order. If such an
extension of time is required, written notice of the extension shall
be furnished to the member and each alternate payee prior to the expiration
of such initial nine-month period. The extension notice shall indicate
the special circumstances requiring an extension of time and the date
by which the Pension Board expects to render a final decision, which
date may not exceed an additional nine months after the initial period
expires unless the qualified status of such order is being determined
by a court of competent jurisdiction. If a court of competent jurisdiction
is determining the status of an order, in no event shall a final decision
be rendered prior to the time the status of such order is determined
by such court. If the status of the order is determined to be nonqualified
by the Pension Board, the Pension Board shall furnish the claimant
with a written notice setting forth (in a manner calculated to be
understood by the claimant) the specific reason or reasons for the
determination of the nonqualified status of the order.
(6)
Segregation and payment of benefits. During any period in which the
issue of whether a domestic relations order is being determined by
the Pension Board, by a court of competent jurisdiction, or otherwise
and payments would be payable to the member, the Pension Board shall
direct the custodian to segregate in a separate account the amount
which would have been payable to the alternate payee during such period
if the order had been determined to be a qualified domestic relations
order. The segregated amounts shall be invested in a savings account
or certificate of deposit. There shall be allocated to the segregated
amounts all interest earned on such savings account or certificate
of deposit. If within 18 months after receipt of the order, or modification
thereof, it is determined to be a qualified domestic relations order,
the Pension Board shall direct the custodian to pay the segregated
amounts to the person or persons entitled thereto. If within 18 months
after receipt it is determined that the order is not a qualified domestic
relations order, or the issue as to whether such order is a qualified
domestic relations order is not resolved, then the Pension Board shall
direct the Trustee to pay the segregated amounts to the person or
persons who would have been entitled to such amounts if there had
been no order. If the determination of the qualified status of a domestic
relations order is made after 18 months after receipt, the order shall
only apply to benefits distributed after the date of such determination.
