Section 3-405 - Authority to establish system(a) The City Council of the City of Burlington is hereby authorized to establish and create a fund or funds for the purpose of providing, either for City employees or appointive officers of said City, or both, in lieu of all existing provisions of the charter of said City relating to the retirement of City employees and pension funds, one or more of the following: (1) retirement benefits on account of age;(2) retirement benefits prior to retirement age on account of accident incurred in the line of duty; and(b) Said fund or funds shall be available for benefits to such employees and appointive officers of the City of Burlington as the City Council may hereafter from time to time designate by ordinance.24 Appendix V.S.A. § 3-405