[Adopted 11-23-1987]
[Amended 3-13-2002]
The Pension and Employee Benefits Board shall
be appointed by the Board of Selectmen of the Town of Old Saybrook
and shall consist of at least five, but not more than seven members.
No employee of the Town of Old Saybrook who is part of the Old Saybrook
pension program or employee benefits program shall be a member of
said Board. The Board of Selectmen shall appoint one member for five
years, one member for four years, one member for three years, one
member for two years, and one member for one year. After the expiration
of a member's term, the Selectmen shall appoint new members for five-year
terms. Vacancies on the Board shall be filled by appointment of a
replacement by the Board of Selectmen for the unexpired portion of
the term. The members of the Pension and Employee Benefits Board shall
annually select one of their members to act as Chair. Members of the
Pension and Employee Benefits Board shall serve without compensation
for acting as such.
The duties and responsibilities of said Board
shall be as follows:
A.
The Board shall act as the Retirement Board, with
the duties and responsibilities established for it under the provisions
of the Town of Old Saybrook Retirement Plan, as the same has been
revised from time to time to the date of this article.
[Amended 3-13-2002]
B.
The Board shall be concerned with all matters relating
to the benefit and welfare of employees of the Town of Old Saybrook,
including, but not expressly limited to, health care, medical and
dental insurance, life insurance, sick leave, vacation time, and retirement
and pension programs.
[Amended 3-13-2002]
The Town of Old Saybrook hereby confirms the
adoption of its comprehensive pension program entitled "Town of Old
Saybrook Retirement Plan, as the same has been amended from time to
time.
[Added 2-3-1993]
A.
The duties and responsibilities of the Board shall
also include the duty to be concerned with all matters relating to
the benefit and welfare of the volunteer fire fighters of the Town
of Old Saybrook, and the Board shall be responsible for the general
administration and carrying out of the provisions of any retirement
plan adopted for the volunteer fire fighters by the Town Meeting.
B.
The Town of Old Saybrook hereby confirms the adoption
of a retirement plan entitled "Town of Old Saybrook, Fire Company
No. 1, Retirement Plan," as recommended by the pension and employee
benefits board, copies of which are available in the office of the
Town Clerk and First Selectman.
