Pursuant to Act #27 of the Public Acts of 1960, as amended,
the Township of Paw Paw hereby creates and establishes an annuity
or pension plan and program for the pensioning of its officers and
employees, and for such purposes, also hereby authorizes the Township
supervisor and the Township Clerk to contract, in the name of the
Township Board, with any company authorized to transact such business
within the State of Michigan for annuities and pensions.
[Amended 6-10-1993 by Ord. No. 201; 5-13-1999 by Ord. No. 231]
(a) The annuity or pension plan created, established and contracted for
under this article shall cover such person or persons within the following
classes of officers and employees:
(1)
All members of the Township Board;
(2)
The deputy clerk and deputy treasurer.
Each person so covered under the annuity or pension plan shall
have a vested right or interest in such plan immediately from the
date the plan becomes effective for such person.