(A) There is hereby established an individual retirement account plan for all full-time employees of the village.
(B) The village shall make a contribution for all full-time employees to the Adams Bank & Trust of Sutherland, Nebraska and/or Edward Jones which are hereby designated Custodian as applicable. The amount of the contributions shall be established for each of the full-time employees by resolution, as amended from time to time.
(C) Nothing in this section shall constitute a continuing authorization for the expenditure of funds, and the village may terminate this plan at any time, although any contributions made on behalf of any full-time village employee shall be fully vested.
(Prior Code, § 1-1301) (Ord. 621, passed 6-13-2018)