[HISTORY: Adopted by the Town of Canton 5-3-1971 by Ord. No.
88. Amendments noted where applicable.]
GENERAL REFERENCES
Pensions — See Ch. 117.
[Amended 12-14-2011]
This Town Meeting hereby creates a Pension Committee
to consist of five members appointed by the Board of Selectmen. Their
term of office is to commence on May 15 and to continue to January
1, 1972. Thereafter one member is to be appointed for a one-year term,
one member is to be appointed for a two-year term, one member is to
be appointed for a three-year term, one member is to be appointed
for a four-year term, and one member is to be appointed for a five-year
term. Thereafter their successors shall be appointed for a four-year
term. No member of the Pension Committee may be an employee of the
Town.
[Amended 6-30-1993 by Ord. No. 198]
The function of the Committee shall be to act
as an advisory board to the Town's Chief Administrative Officer and
Finance Officer/Treasurer with regard to the planning, management,
and direction of the pension program. The Committee shall monitor
the financial management of the program, including the investment
of the assets and the plan's funding status, and shall make recommendations
in these areas as it deems appropriate. The Committee will provide
advice as requested by the Town's Chief Administrative Officer and
Finance Officer/Treasurer with respect to plan provisions and administration.
The Committee may elect a Chairman or such other officers from its
membership as it may deem appropriate, from time to time.
