[HISTORY: Adopted by the Representative Town Meeting of the Town of Branford as indicated in article histories. Amendments noted where applicable.]
Social Security — See Ch. 91.
The Town of Branford hereby provides for the retirement of its regular employees, excepting those employees provided for by an independent retirement system, by accepting and adopting the provisions of Sections 7-425 through 7-459, inclusive, of the General Statutes of Connecticut, Revision of 1958, and provide that such employees shall be included in Fund A.
Authority; establishment of Other Post-Employment Benefits Trust. Pursuant to the authority granted in Section 4 of the Charter and § 7-450(b) of the Connecticut General Statutes, there is hereby created and established "The Town of Branford Other Post-Employment Benefits Trust Agreement" (the "OPEB Trust") to fund certain retiree benefits, excluding pension benefits, and including health care and other post-employment employment benefits provided separately from a pension plan, as provided from time to time by the Town.
Establishment of Other Post-Employment Benefits Board. Immediately upon the enactment of this article, the Board of Finance shall constitute the Town of Branford Other Post-Employment Benefits Trust Board of Trustees, hereinafter referred to as the OPEB Board. The members of said OPEB Board shall receive no compensation for serving as a member thereof.
Powers and duties of the OPEB Board. The Town of Branford and the OPEB Board are hereby authorized and directed to enter into a trust agreement to govern the administration, management and investment of the OPEB Trust and the assets thereof. The Town of Branford, acting through its Board of Selectmen, and the OPEB Board are further authorized to modify, amend, cancel or terminate the trust agreement, as appropriate and in accordance with applicable law. The OPEB Board is authorized to exercise such powers as are set forth in the trust agreement.
Unless otherwise required by law, wherever the Town (as distinguished from the OPEB Board of Trustees) is authorized or required to act under the trust agreement, the Board of Finance shall act on behalf of the Town.