Any employee retirement plan entered into on behalf of the town pursuant to this chapter shall describe, without limitation, those town employees who are eligible to participate in the plan; the requirements for an employee to participate in the plan; the vesting of benefits under the plan; the amount of any contributions required by the employee and the town; the factors to be considered in determining the amount of the town's contribution to the plan; and other provisions determined to be necessary or desirable by the town. (Ord. 24, Series 2013)