Source: https://www.ecode360.com/11888189
Timestamp: 2019-04-22 06:12:26+00:00

Document:
§ 40-1 Enrollment in Pennsylvania Municipal Retirement System.
§ 40-3 Accrual of benefits.
§ 40-4 Payment for obligations.
§ 40-5 Acceptance of agreement; liability for unfundedness.
§ 40-7 Filing; effective date of membership.
§ 40-8 Enrollment in Pennsylvania Municipal Retirement System.
§ 40-10 Acceptance of contract.
§ 40-11 Payment for obligations; liability for unfundedness.
§ 40-14 Termination of prior provisions; transfer of assets and liabilities.
§ 40-15 Approval of contract by members.
Salaries and compensation — See Ch. 57.
Mars Borough (the Borough) hereby elects to enroll its municipal employees in the Pennsylvania Municipal Retirement System (the system), established by the Pennsylvania Municipal Retirement Law, Act 15 of 1974, as amended, with the express purpose of having the system administer the pension plan established for the municipal employees of the Borough. The Borough does hereby agree to be bound by all the requirements and provisions of said law and to assume all obligations, financial and otherwise, placed upon member municipalities by said law. All references hereafter shall be based on benefits negotiated between the Pennsylvania Municipal Retirement Board (the Board) and the Borough under the provisions of Article IV of the Pennsylvania Municipal Retirement Law.
Membership in the system shall be mandatory for all full-time municipal employees of the Borough. Membership for elected officials, part-time employees, and employees hired on a temporary or seasonal basis is prohibited, as is membership for individuals paid only on a fee basis.
Credit for service toward the annuity of each original member shall begin to accrue upon the member's date of enrollment in the system. However, for purposes of determining eligibility for early retirement and vesting, credited service shall accrue from each original member's date of hire or expiration of the member's probationary period, if one so existed, whichever is most recent. Benefits provided to members in the agreement between the Board and the Borough dated February 2, 2009 (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 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. The passage and adoption of this article by the 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.
The Borough intends this article to be the complete authorization of the Borough's municipal pension plan.
A duly certified copy of this article and the referenced agreement shall be filed with the Pennsylvania Municipal Retirement System of the Commonwealth of Pennsylvania. Membership for the municipal employees of the Borough in the system shall be effective the first day of January 2009.
Mars Borough (the Borough) hereby elects to establish a police pension plan with the Pennsylvania Municipal Retirement System (the system) in accordance with Article IV of the Pennsylvania Municipal Retirement Law, 53 P.S. § 881.101 et seq. (Retirement Law), to be administered by the system for its police. The Borough hereby agrees to be bound by all the requirements and provisions of the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act, 53 P.S. § 895.101 et seq., and to assume all obligations, financial and otherwise, placed upon member municipalities.
As part of this article, the Borough agrees that the system shall administer and provide the benefits set forth in the police pension plan entered into between the Pennsylvania Municipal Retirement Board and the Borough dated _____ (the contract).
The passage and adoption of this article by the Borough is an official acceptance of the contract and the financial obligations resulting from the administration of the contract.
Payment for any obligation established by the adoption of this article and the contract shall be made by the Borough in accordance with the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act. The Borough hereby assumes all liability for any unfundedness created due to the benefit structure set forth in the contract.
The Borough intends this article to be the complete authorization of the contract, and it shall become effective and specifically repeal Ordinance No. 429 either immediately or on December 1, 2010, which is the effective date of the contract, whichever is later.
A duly certified copy of this article and an executed contract shall be filed with the system.
By adoption of this article, the Borough agrees to terminate, upon the effective date of the contract, any previously maintained pension plan applicable to its police 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 hereby acknowledges that an affirmative vote representing at least 75% of the plan members indicated that the members approved the establishment of the contract with the system.

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 § 881
 § 895