[Adopted 1-11-1999 by Ord. No. 98-22]
The existing act, entitled "An Act Concerning Pensions," which act is codified in §§ 25-22 through 25-35 of the Stratford Town Code, is hereby repealed.[1]
[1]
Editor's Note: This refers to former Art. V, Retirement Plan, adopted 3-9-1970, as amended, which was comprised of §§ 25-22 through 25-35.
Upon the passage of this article, a Retirement Plan for Employees of the Town of Stratford (Retirement Plan), a copy of which shall be maintained in the office of the Town Clerk and the Human Resources Director, is hereby adopted and approved.
To the extent the collective bargaining process modifies the provisions to the Retirement Plan, the Retirement Plan is deemed to be amended.
To the extent that the Retirement Plan is subsequently modified by collective bargaining, the amendments shall be maintained in the office of the Town Clerk and Human Resources Director.
The Town Annuity Plan shall be frozen effective December 31, 1998. No new contributions shall be made to the Town Annuity Plan with respect to compensation paid after December 31, 1998. No employee shall be eligible to join the Town Annuity Plan after December 31, 1998.