[HISTORY: Adopted by the Board of Selectmen of the Town of Woodbridge as indicated in article histories. Amendments noted where applicable.]
Officers and employees — See Ch. 86.
Article I Other Post-Employment Benefits Trust Agreement
[Adopted 5-14-2009, effective 6-12-2009]
Pursuant to the authority granted in Article IV of the Charter and § 7-450(b) of the Connecticut General Statutes, there is hereby created and established the Town of Woodbridge Other Post-Employment Benefits Trust Agreement (the "OPEB Trust") to fund certain retiree benefits, excluding pension benefits, and including health care and other post-employment employment benefits provided separately from a pension plan, as provided from time to time by the Town.
Immediately upon the enactment of this article, the Investment Committee shall constitute the Town of Woodbridge Other Post-Employment Benefits Trust Board of Trustees, hereinafter referred to as the "OPEB Board." The members of said OPEB Board shall receive no compensation for serving as a member thereof.
The Town of Woodbridge and the OPEB Board are hereby authorized and directed to enter into a trust agreement to govern the administration, management and investment of the OPEB Trust and the assets thereof. The Town of Woodbridge and the OPEB Board are further authorized to modify, amend, cancel or terminate the trust agreement as appropriate and in accordance with applicable law. The OPEB Board is authorized to exercise such powers as are set forth in the trust agreement.
Unless otherwise required by law, wherever the Town (as distinguished from the OPEB Board of Trustees) is authorized or required to act under the trust agreement, the Board of Selectmen shall act on behalf of the Town.