In recognition of the particular problems and unusual risks undertaken
by the volunteers of the several companies and chief officers of the Newington
Volunteer Fire Department, the Newington Town Council hereby establishes a
pension plan for the Newington Volunteer Fire Department.
Pursuant to C.G.S. § 7-148, the Newington Town Council hereby
authorizes a pension plan for the volunteers of the several companies and
chief officers of the Newington Volunteer Fire Department. Said plan entitled
"Town of Newington Volunteer Fire Department Pension Plan," hereafter referred
to as the "plan," dated July 1989, is hereby adopted. In consideration of
this plan, the Newington Town Council hereby authorizes the Town Manager to
enter into a contract for an indefinite term with the Newington Volunteer
Fire Department for the purpose of providing the Town of Newington with fire
protection services.
The Town Council shall appropriate, as part of the Town's annual budget,
sufficient funds for said plan. The funding level shall be analyzed at intervals
not exceeding five years by a qualified professional actuary. Said actuarial
study shall also make recommendations pertaining to the management, soundness
and other matters as the Town Council may direct.
[Amended 10-24-1989]
All fund balances currently existing in the Volunteer Fire Fighters'
Deferred Compensation Fund balance shall also be used to fund
the plan. Any person who is an active member and has vested rights under the
deferred compensation plan as of the effective date of this chapter shall
have vested rights in the pension plan in lieu of said deferred compensation
plan. Those individuals who have vested rights, but are no longer active,
shall continue to enjoy their rights under the deferred compensation plan,
which plan is on file in the office of the Town Clerk. Benefits of both plans
shall be paid out of this fund.
The active membership of the Newington Volunteer Fire Department shall
not exceed 150.
The plan may be amended by a formal resolution of the Newington Town
Council.