[Adopted 7-7-2014 by Ord. No. 14-02]
Pursuant to the authority granted to it in C.G.S. § 7-450 as that section may be amended or recodified from time to time, there shall be created and established the Other Post-Employment Benefits Trust (the "OPEB Trust") and Trust Agreement to fund certain retiree benefits which the Town and the Board of Education may be obligated to provide pursuant to the terms of previously established plans for the benefit of certain employees, retirees, their spouses and dependents.
Upon the enactment of this article, the members of the Retirement Plan Committee shall also serve as, and shall constitute the Other Post-Employment Benefits Advisory Board, hereinafter referred to as the "OPEB Board." The terms of the members of the OPEB Board shall be coextensive with their respective terms as members of the Town of Windsor Retirement Plan Committee. The OPEB Board shall perform the duties set forth in the OPEB Trust Agreement, as amended from time to time, relating to the administration of the OPEB Trust.
Upon the enactment of this article, the Director of Finance shall be appointed as Trustee for the OPEB Trust and shall perform the duties set forth in the OPEB Trust Agreement, as amended from time to time, relating to the management of the assets held in the OPEB Trust, and shall have the care and custody of all assets funds and the power to invest such assets in accord with all applicable provisions of law.