[HISTORY: Adopted by the Board of Selectmen of the Town of
Woodbridge as indicated in article histories. Amendments noted where
applicable.]
GENERAL REFERENCES
Officers and employees — See Ch. 86.
[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.
