[HISTORY: Adopted by the Commissioners of the Town of Dewey Beach 9-7-1984 as § 701.4 of the 1984 Code. Amendments noted where applicable.]
There is hereby established a Police Pension and Retirement Fund for all full-time Dewey Beach police officers. This Fund is to be administered by the State of Delaware Office of Pensions.
[Amended 7-13-1990 by Ord. No. 183]
The Town Manager of the Town of Dewey Beach is hereby authorized and directed to make payments to the state-administered plan as required to cover both employee and employer pension cost. The employee's share of pension cost is to be paid through the Town, on behalf of the employee, by a regular employee payroll deduction. The employer's cost is to be funded from an annual State of Delaware Aid to Police Officers Grant. Any additional funds required must be appropriated by the Commissioners of Dewey Beach.