There is hereby established a retirement account for employees of the Water Company and the Town Sewage Treatment Plant System. The Town Council is hereby authorized to make payment into the account. The account shall be held and invested by the town, or a designated agent of the town, for purposes of retirement benefits for employees of these utilities. The Town Council may provide for the method, manner, and account of contributions to be made by the utility out of its earnings, reserves, or earned plus, and by employees. This plan will be a written plan designated as “Retirement Plan for Town Utility Employees.” The plan will be available for inspection at the office of the Town Clerk-Treasurer.
(Ord. 82-4, passed 12-6-1982)