The Town of Farmington Employee Pension Plan (hereinafter referred to as the "plan") is established, subject to the provisions hereinafter set forth, for the purpose of providing old-age security to employees of the Town of Farmington (hereinafter referred to as the "Town") and employees of the libraries administered by the Farmington Village Green and Library Association (hereinafter referred to as the "Library"). The plan has been divided into Part 1, Part 2 and Part 3 for convenience only. Except as otherwise indicated herein, all articles of this Part 3 shall apply only to eligible employees of the Library.