[HISTORY: Adopted by the Board of Selectmen of the Town of Brookfield as indicated in article histories. Amendments noted where applicable.]
A permanent Retirement Benefits Advisory Committee is hereby established by the Town of Brookfield. The purpose of this Committee is to render advice to the Board of Selectmen and the Board of Finance on issues concerning the Town's pension program and other post-retirement benefits provided to Town employees.
The Committee shall be comprised of the Town Treasurer, one member of the Board of Selectmen, one member of the Board of Finance, plus three electors of the Town of Brookfield, all of whom shall be appointed by the Board of Selectmen, and one member appointed by the Board of Education. When possible, the appointed electors shall be knowledgeable in the general field of pension plans and investments. The Town Controller shall be an ex-officio member of the Committee. No voting member of this Committee shall be a beneficiary or future beneficiary of the Town's retirement benefit plans.
[Amended 1-3-2012; 12-1-2014]
The members from the Board of Selectmen, the Board of Finance and the Town Treasurer shall serve for the length of that member’s term on the respective board or in the elected position. The term of the member appointed by the Board of Education shall be four years. The appointed electors shall serve for a four-year term; however, in the initial appointment of electors, the Board of Selectmen shall appoint one of the appointed electors to a two-year term and one of the appointed electors to a four-year term. Appointments shall comply with the minority representation requirements set forth in C.G.S. § 9-167a.
Vacancies shall be filled by the Board of Selectmen in accordance with the Charter.
The Committee shall elect its Chairman and any other officers it requires from its membership.
The Committee shall establish its own meeting schedule, and will meet no less than once per calendar quarter. All meeting schedules and agendas shall be made available to the public in advance, in accordance with the Town Charter and state statutes. The presence of three voting members shall constitute a quorum. Meetings shall be open to the public, and public comment shall be allowed at all meetings. Minutes of meetings shall be kept and filed in accordance with the Town Charter and state statutes, as applicable. The Committee may also establish bylaws and rules of procedure as appropriate.
This Committee shall render advice to the Board of Selectmen and the Board of Finance on issues concerning the Town's pension program and other post-retirement benefits provided to Town employees.
This Committee shall recommend to the Board of Selectmen a schedule of appropriate and periodic communications to the general public and the employees.
This Committee shall meet with the Controller, Director of Business and Technology Operations of the Board of Education and the Town Treasurer to review all pertinent government accounting standards (GASB), as well as recommendations from the investment firm concerning the Town pension plan and retirement benefits program in order to better give advice to the Board of Selectmen and the Board of Finance.
The Town of Brookfield ("Town"), in accordance with General Statutes § 7-450(b), hereby establishes the Town of Brookfield Other Post-Employment Benefits Trust (the "trust") to hold and invest the assets that are set aside for the payment of other post-employment benefits, with the trust to be administered and operated in accordance with the provisions of Government Accounting Standards Board Statements 43 and 45, as may be amended or superseded, and pursuant to the terms and declarations set forth in the Declaration of Trust which is, and as amended from time to time, incorporated herein as though it was fully set forth herein.
The Board of Selectmen shall be responsible for the oversight of the trust and the trust assets and shall consult the Retirement Benefits Advisory Committee in the conduct of its duties pursuant to this article and the Declaration of Trust.