(A) The town hereby establishes the town deferred compensation plan for the voluntary participation of all eligible employees.
(B) The town will utilize the state’s plan document, its service manager, and its investment options.
(C) The town hereby appoints the Clerk-Treasurer as the administrator of the plan, and authorizes the Clerk-Treasurer to make deductions from the pay of employees, who voluntarily participate, and to make other arrangements as are necessary to implement the plan. It is understood that, other than the incidental expense of collecting the employees’ deferrals and other minor administrative matters, there is to be no cost to the town or contribution by the town to this plan.
(Res. passed 8-28-2001)