(A) The Town Council establishes a pre-tax premium plan for the voluntary participation of all eligible employees of the town. The plan is required to be established in conformance with the requirements of Section 125 of the Internal Revenue code, as amended from time to time.
(B) The Clerk-Treasurer is authorized to execute for the town individual participation agreements with each employee requesting the same, and to act as the administrator of the plan representing the town. The Council President is authorized to execute such agreements and contracts as are necessary to implement the program, and the Clerk- Treasurer shall attest to the execution of the same by the Council President.
(C) The town pre-tax plan is established, provided that there is little or no cost to the town for the plan except for minor incidental administrative expenses regarding the same.
(Ord. 734, passed 10-20-98)