Source: https://www.ecode360.com/14807982
Timestamp: 2019-04-25 06:53:47+00:00

Document:
§ 48-1 Employee pension plan established.
§ 48-3 Credit for service.
§ 48-4 Payment of obligations.
§ 48-5 Benefits to be provided by System.
§ 48-6 Termination of prior pension.
§ 48-7 Vote of plan members.
§ 48-9 Filing of plan.
§ 48-10 Police employee pension plan established.
§ 48-12 Credit for service.
§ 48-13 Payment of obligations.
§ 48-14 Benefits to be provided by System.
§ 48-15 Termination of prior pension.
§ 48-16 Vote of plan members.
§ 48-18 Filing of plan.
Officers and employees — See Ch. 43.
Salaries and compensation — See Ch. 75.
Palmyra Borough hereby elects to enroll its nonuniform and uniform employees in the Pennsylvania Municipal Retirement System (the "System"), established by the Pennsylvania Municipal Retirement Law, Act 15 of 1974, as amended (the "Law"), with the express purpose of having the System administer the retirement plan established by the Borough for the nonuniform and uniform employees. Palmyra Borough does hereby agree to be bound by all the requirements and provisions of the Law and to assume all obligations, financial and otherwise, placed upon member municipalities. All references hereafter shall be based upon the benefits negotiated between the Pennsylvania Municipal Retirement Board (the "Board") and the Borough under the provisions of Article IV of the Law.
Membership in the Pennsylvania Municipal Retirement System shall be mandatory for all full-time nonuniform and uniform employees of the Borough. Membership for part-time employees is optional. The election by part-time employees to join the System must be made within one year after the employee first enters the service of the Borough. Membership for elected officials and employees hired on a temporary or seasonal basis is prohibited, as is membership for individuals paid only on a fee basis. Individual membership shall be effective as of the date the Borough entered into the System or upon the expiration of the individual's probationary status, whichever is more recent.
Credit for prior service for original members is granted for each year or partial year thereof that the member was employed by the Borough from the original date of hire or the expiration of the member's probationary period if one so existed. Benefits provided to members in the Agreement dated April 26, 2010 (the "Agreement"), shall accrue based on all credited service granted and earned in accordance with this section.
Payment for any obligation established by the adoption of this article and the Agreement between the System and Palmyra Borough shall be made by the Borough in accordance with the Pennsylvania Municipal Retirement Law and Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery Act.
As part of this article, the Borough agrees that the System shall provide the benefits set forth in the Agreement between the Board and Palmyra Borough. The passage and enactment of this article by Palmyra Borough is an official acceptance of said Agreement and the financial obligations resulting from the administration of said benefit package. The Borough hereby assumes all liability for any unfundedness created due to the acceptance of the benefit structure outlined in the above-referenced Agreement.
By adoption of this article, the Borough agrees to terminate, upon the effective date of membership in the System, any previously maintained municipal pension program applicable to those employees identified as members in § 48-2 of this article and to transfer all assets from any existing plan to offset the established liability and to transfer all liabilities relating to retirement allowances or pensions. Liabilities not so transferred, whether known or not known at the time of the Borough's enrollment into the System, shall remain with the Borough.
The Borough also acknowledges that an affirmative vote representing at least 75% of the plan members indicated the members were in agreement with the establishment of the plan with the System.
The Borough intends this article to be the complete authorization of the Borough's municipal pension plan and it shall become effective and specifically repeal Ordinance Number 602 either immediately or on June 1, 2010, which is the effective date of the Agreement, whichever is later.
A duly certified copy of this article and the above-referenced Agreement shall be filed with the Pennsylvania Municipal Retirement System of the Commonwealth of Pennsylvania. Membership for the municipal pension plan of Palmyra Borough in the Pennsylvania Municipal Retirement System shall be effective the first day of June 2010.
Palmyra Borough hereby elects to enroll its police officers in the Pennsylvania Municipal Retirement System (the "System"), established by the Pennsylvania Municipal Retirement Law, Act 15 of 1974, as amended (the "Law"), with the express purpose of having the System administer the retirement plan established by the Borough for the police officers. Palmyra Borough does hereby agree to be bound by all the requirements and provisions of the Law and to assume all obligations, financial and otherwise, placed upon member municipalities. All references hereafter shall be based upon the benefits negotiated between the Pennsylvania Municipal Retirement Board (the "Board") and the Borough under the provisions of Article IV of the Law.
Membership in the Pennsylvania Municipal Retirement System shall be mandatory for all full-time police officers of the Borough. Membership for elected officials and employees hired on a temporary or seasonal basis is prohibited, as is membership for individuals paid only on a fee basis.
By adoption of this article, the Borough agrees to terminate, upon the effective date of membership in the System, any previously maintained municipal pension program applicable to those employees identified as members in § 48-11 of this article and to transfer all assets from any existing plan to offset the established liability and to transfer all liabilities relating to retirement allowances or pensions. Liabilities not so transferred, whether known or not known at the time of the Borough's enrollment into the System, shall remain with the Borough.
The Borough intends this article to be the complete authorization of the Borough's police pension plan and it shall become effective and specifically repeal Ordinance Number 603 either immediately or on June 1, 2010, which is the effective date of the Agreement, whichever is later.
A duly certified copy of this article and the above-referenced Agreement shall be filed with the Pennsylvania Municipal Retirement System of the Commonwealth of Pennsylvania. Membership for the police pension plan of Palmyra Borough in the Pennsylvania Municipal Retirement System shall be effective the first day of June 2010.

References: § 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48

§ 48
 § 48
 § 48