[Adopted as Secs. 11-1 to 11-4 of the 1996 Code]
The Pension Board of the Town shall transfer the Retirement Allowance Fund established under the pension ordinances effective August 1, 1944, to the Town Treasurer on February 28, 1961. The Board of Directors of the Town shall and is hereby authorized to direct the Town Treasurer to refund from said Retirement Allowance Fund to officials and employees of the Town, who were included in the pension plan but who have not commenced to receive pension or disability payments, their contributions, without interest, and direct said Town Treasurer to pay and deliver, within five days of February 28, 1961, to the Trustees of the Pension Trust Fund of the Town, under a deed of trust authorized by this article, the sum of $247,472.03, to be held in trust for the benefit of former officials and employees of the Town who have commenced to receive pension or disability payments under such pension ordinances.
The Board of Directors shall and are hereby authorized to direct the General Manager of the Town to execute, on behalf of the Town, a deed of trust approved by the Board of Directors establishing a trust fund to be known as the "Pension Trust Fund of the Town of Manchester." The trust shall provide for the payment of pension and/or disability payments as authorized under the pension ordinances effective August 1, 1944, for those former officials and employees of the Town, who are receiving or are about to receive such payments, for as long as they shall remain entitled to such payments. The Board of Directors shall, from time to time, appropriate and pay to or cause to be paid to said Trustees such funds as may be necessary to discharge the obligations of the Town created by such pension ordinances and affirmed by such trust with respect to such former officials and employees.
The Trustees of the Pension Trust Fund of the Town referred to in § 70-1 in whom title and management of the Pension Trust Fund shall be vested shall consist of the Town Treasurer, ex officio, and four Trustees appointed by the Board of Directors. Such four Trustees shall be appointed to serve respectively until the Tuesday after the first Monday in November 1954, November 1955, November 1956 and November 1957. Commencing in 1954 and annually thereafter, the Board of Directors shall appoint for a term of four years a successor to the Trustee whose term expires. The Trustees appointed by the Board of Directors shall be electors of the Town and shall serve until their successors have been appointed and have qualified. The Board of Directors shall fill any vacancy in the term of any Trustee for the remainder of his term of office. Any appointed Trustee may be removed in the manner provided in the Town Charter for the removal of any officer or employee appointed by the Board of Directors.
The Town does hereby accept the provisions of §§ 7-323a through 7-323i of the General Statutes to include the members of the Town Fire Department in the Survivors' Benefit Fund.