April 4, 2007
TOWN OF SIMSBURY
LEGAL NOTICE
Notice is hereby given pursuant to Section 404 of the Town Charter that the Board of Selectmen will hold a public hearing on April 23, 2007 at 7:00 p.m. in the Main Meeting Room of the Simsbury Town Offices to receive public comment concerning a proposed amendment to Chapter A 160, Article VI of the Code of Ordinances as follows:
§A106-47. Retiree Health Care Trust.
A. Trust Fund:
In accordance with Conn. Gen. Stat. § 7-450(a), the Town shall establish a Trust Fund ("Trust") to hold and invest all contributions and assets of the Town's retiree group health care plan ("Plan"). The Trust shall be for the purpose of funding current and future health care benefits for eligible retired employees in accordance with the Plan. The Board of Selectmen shall appoint a Trustee as the trustee under the Trust.
B. Trust Management and Asset Investment:
The Board of Selectmen may amend or terminate the Trust. The Board of Selectmen shall appoint a Plan Administrator who shall be responsible for instructing the Trustee in the disbursements of benefits, and investment management of the Trust. The Board of Finance shall determine the funding policy of the Plan.
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