Pension Committee

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COMPOSITION:  Nine (9) members

Town Manager, Finance Director, the Mayor, two (2) members of the Town Council appointed by the Town Council, two (2) Town employees appointed by the Town Manager, and two (2) Committee members representing the Town Board of Education.

ELECTED/APPOINTED:  Appointed

ESTABLISHED BY:  Ordinance #149                         

YEAR:  1998

TERMS:  The Pension Committee members appointed by the Town Council shall be appointed for two-year terms, except that the terms shall expire concurrent with their term of office or when they leave their Council position.

CURRENT MEETING SCHEDULE:  Quarterly

GENERAL POWERS AND DUTIES:

Management of the investment and funding of the Town’s retirement plans, including the Volunteer Fire Department’s pension plan, is hereby vested in the Pension Committee.

BY-LAWS (YES/NO):  Yes, through the Ordinance

REGULATIONS/MASTER PLAN/PROGRAMS:  Investment Objectives & Guidelines