Source: https://www.ecode360.com/9949704
Timestamp: 2019-10-24 02:20:18
Document Index: 753348969

Matched Legal Cases: ['§ 50', '§ 50', '§ 50', '§ 50', '§ 50', '§ 50', '§ 50', '§ 50']

Township of Horsham, PA Retirement System, Municipal
§ 50-1 Amendment of benefits.
§ 50-2 Membership requirements.
§ 50-3 Credit for prior service.
§ 50-4 Payment for obligations.
§ 50-5 Administration of benefits.
§ 50-6 Repealer.
§ 50-7 Filing of chapter; when effective.
Chapter 50 Retirement System, Municipal
[HISTORY: Adopted by the Township Council of Horsham Township 2-11-1992 by Ord. No. 185. Amendments noted where applicable.]
Police Pension Advisory Committee — See Ch. 43.
Horsham Township, being a member municipality of the Pennsylvania Municipal Retirement System, hereby elects to change its member benefits in that System as authorized by the Pennsylvania Municipal Retirement Law,[1] as amended, and does hereby agree to be bound by all the requirements and provisions of said Article[2] and the Law, as the case may be, and to assume all obligations, financial and otherwise, placed upon member municipalities by said amendment, as the case may be. All references hereafter shall be based on benefits negotiated between the Board and the municipality under the provisions of Article IV.
Editor's Note: Refers to Article IV of the Pennsylvania Municipal Retirement Law.
§ 50-2 Membership requirements. [1]
Membership in the Pennsylvania Municipal Retirement System shall be mandatory for all permanent, nonuniformed municipal employees of the Township. 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.
Credit for prior service for original members is granted for each year or partial year thereof that the member was employed by the Township from original date of hire. Benefits provided to members in the agreement dated February 11, 1992, 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 chapter and the agreement between the System and Horsham Township shall be made by the Township in accordance with the Pennsylvania Municipal Retirement Law and Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery Act.[1]
As part of this chapter, the Township agrees that the System shall provide the benefits set forth in the agreement between the Board and Horsham Township, dated February 11, 1992. The passage and adoption of this chapter by Horsham Township is an official acceptance of said agreement and the financial obligations resulting from the administration of said benefit package. Horsham Township hereby assumes all liability for any unfundedness created or which may be created due to the acceptance of the benefit structure outlined in the above-referenced agreement.
Horsham Township intends this chapter to be the complete authorization of the Township plan and, therefore, specifically repeals the previous agreement and Ordinance Number 74.
A duly certified copy of this chapter and the referenced agreement shall be filed with the Pennsylvania Municipal Retirement System of the Commonwealth of Pennsylvania. Membership for the municipal employees of Horsham Township in the Pennsylvania Municipal Retirement System shall be effective the first day of December 1969, with the revised plan structure reflected in the agreement dated February 11, 1992, effective the first day of January 1992.