[HISTORY: Adopted by the City Council of the City of West Haven 2-26-1968 by Ord. No. 81. Section 46-5 amended at time of adoption of Code; see Ch. 1, General Provisions, Art. I. Other amendments noted where applicable.]
There is hereby established a retirement system for employees of the City of West Haven, commencing in and for the fiscal year of July 1, 1967, to June 30, 1968, and continuing thereafter.
The Mayor, or any successor or successors to his powers, is hereby authorized to establish, administer and maintain a retirement system for the employees of the City of West Haven and to make provision, by regulations or appointment of boards, committees, agencies or commissions, for the establishment, administration and maintenance of said retirement system.
Said retirement system may be financed by appropriation of city funds, contributions by employees and insurance contracts, trust funds, general contributions or bequests or any other legal, actuarially and fiscally sound means.
Said retirement system may be administered in conjunction with or in the light of other retirement or pension benefits presently or in the future equitably available to the beneficiaries thereof.
Said retirement system may provide benefits for the dependents and/or survivors of the city employees and may be administered jointly or in conjunction with any other benefits or plan of benefits presently or in the future equitably available to city employees, their dependents and/or survivors.