(A) Contributions to the costs of retirement plans for town employees shall be required of all participating non-unionized employees of the town and shall be in an amount equal to that which is negotiated with unionized employees which they supervise or with whom they are affiliated. The required contributions shall be based upon gross annual earnings of the employee and shall be deducted each pay period. The Finance Director is hereby authorized to collect and directed to pay to the appropriate carrier such contributions.
(B) Contributions to the costs of the retirement plans for town employees shall be required of all participating unionized employees of the town and shall be in an amount equal to that which is negotiated as part of the collective bargaining agreement under which each employee is covered. The required contributions shall be based upon the gross annual earnings of the employee and shall be deducted each pay period. The Finance Director is hereby authorized and directed to collect and pay to the appropriate carrier such contributions. The amount contributed by employee shall be no less than the amount prescribed by the plan documents or statute.
(C) The remainder of the costs of the retirement plan shall be contributed by the town and paid to the appropriate carrier as provided in the contract.
(‘73 Code, § 7-59) (Ord. passed 7-1-63; Am. Ord. passed 4-6-98; Am. Ord. 2011-4, passed 4-4-11)