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25-22 through 25-35 of the Stratford Town Code, is hereby repealed.
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.