[HISTORY: Adopted by the Board of Supervisors
of Upper Merion Township as indicated in article histories. Amendments
noted where applicable.]
[Adopted 3-7-1996 by Ord. No. 96-645[1]]
[1]
Editor's Note: This ordinance also supersedes former Art.
I, Police Pension Plan and Fund, adopted 6-8-1987 by Ord. No. 87-514,
as amended.
A.Â
AGE
ANNIVERSARY DATE
AVERAGE APPLICABLE COMPENSATION
BOARD
COMMITTEE
COMPENSATION
CHIEF ADMINISTRATIVE OFFICER
DEFERRED RETIREMENT OPTION PLAN, (DROP)
EARLY RETIREMENT DATE
EFFECTIVE DATE
EMPLOYEE
FUND
MEMBER
NORMAL RETIREMENT DATE
PLAN
PLAN YEAR
SERVICE
TOTAL AND PERMANENT DISABILITY
TOWNSHIP
TRUSTEE
As used in this article, the following terms shall
have the meanings indicated:
The age attained by the employee at his last birthday.
Any January 1 after the effective date.
The average monthly compensation of the member at any time
of reference computed over the last 36 months (or such shorter period
as represents the member's total period of continuous employment by
the Township) of his continuous employment by the Township prior to
such date of reference.
The Board of Supervisors of Upper Merion Township.
Consists of seven members, one of whom shall be a member
of the Board of Supervisors; one of whom shall be the Township Manager
or an alternate to be designated by the Township Manager; one of whom
shall be the Chief of Police; one of whom shall be a representative
from the Township's uniformed police officers; one of whom shall be
a representative from the Township's nonuniformed employees; and two
of whom shall be residents of the Township.
All taxable payments from the Township and any pretax contributions
to a plan where IRC Sec. 457 or Sec. 414(n) and any payments made
pursuant to the Act of June 28, 1935, P.L. 477, as amended 53 P.S.
§§ 637 and 638, commonly known as the "Heart and Lung
Act."
The person who has primary responsibility for the execution
of the administrative affairs of this pension plan, or the designee
of that person.
A distribution option available to members who qualify and who so voluntarily elect as provided in § 37-4A(1).
[Added 6-5-2003 by Ord. No. 2003-727]
The first day following the date on which the member completes
20 years of service.
[Amended 12-2-1999 by Ord. No. 99-700]
March 7, 1996.
Any sworn police officer in the full-time employ of the Township
Police Department whose customary employment is for not less than
40 hours a week.
All assets held by the Trust under the Trust Agreement relating
to this Police Pension Plan.[1]
Any sworn police officer in the full-time employ of the Township Police Department who has satisfied the eligibility requirements established in § 37-2 hereof and who is, at the time of reference, or has been prior to his or her elimination, making such contributions as may be required pursuant to Section 3.01 thereof.
The first day following the date on which the member completes
25 years of service and the date on which the member attains age 50.
The Police Pension Plan for Upper Merion Township, as herein
set forth and as the same may hereafter be amended.
A period of 12 consecutive months commencing an any January
1 and ending on the following December 31.
The aggregate of the member's total periods of employment
as an employee of the Township. If a member enters military service,
either voluntarily or by conscription, after he has been employed
for at least six months, such time spent in the armed forces of the
United States during a period of national emergency shall be counted
as service for purposes of the plan, provided that such member returns
to police service with the Township within six months after his discharge
or release from such active duty in the Armed Forces of the United
States. The time spent in military service due to voluntary extension
of such military service during a period of peacetime shall not be
included as service for the purposes of this plan. Time spent on Reserve
or National Guard Training shall be included as service for purposes
of this plan.
Any condition arising from service-connected illness or injury
which precludes an employee from performing the duties associated
with the normal occupational requirements of any position with the
Police Department as certified by a physician designated by the Township.
Upper Merion Township, Montgomery County, Commonwealth of
Pennsylvania.
The Board of Supervisors of Upper Merion Township or any
other agency or person appointed by such to serve in that capacity
as set forth in the Trust Agreement.
B.Â
Wherever applicable as used herein, unless the context
specifically provides otherwise, the singular and plural shall be
interchangeable, and the masculine and feminine pronoun shall include
either sex.
A.Â
Contributions by members.
(1)Â
Member shall pay into the fund at a rate not less than 5% nor more than 8% of his or her compensation. Compensation for this purpose shall be as defined in § 37-1A of the plan. If an actuarial study shows that the condition of the fund is such that contributions by members may be reduced or eliminated, and that contributions by the Township will not be required to keep the fund actuarially sound, then the board may, on an annual basis, by ordinance or resolution, reduce or eliminate payments into the fund by members. Individual records of contributions by members shall be maintained, including all interest credited to their individual accounts. Interest to be credited shall be 4%, compounded annually.
(2)Â
Interest shall be credited from the end of the plan
year in which the contribution is made to the end of the month after
which a refund becomes payable.
B.Â
Refund of member's contributions. Any member who for
any reason shall be ineligible to receive a pension after having made
contributions shall be entitled to a refund of his individual account
balance; such refund is payable immediately upon discontinuance of
his employment with the police force or within a reasonable time (not
more than 45 days after discontinuance). If such discontinuance is
due to death, then such refund shall be paid to his designated beneficiary
or, in the absence thereof, to his estate. If the disabled or retired
member is receiving a benefit by reason of disability or retirement,
then the refund payable to the beneficiary is equal to the individual
account balance at the date of disability or retirement, less any
pension payments made to the member.
C.Â
Deposits. Contributions by members shall be remitted
to the trustee monthly.
D.Â
State aid. The portion of the payments made by the
State Treasurer to the Township and designated by the board to be
allocated to the Police Pension fund from money received pursuant
to Act 205 of 1984 and allocated for purposes of pension retirement
or disability benefits for policemen shall be used as follows:
E.Â
Township contributions. Subject to the provisions
and limitations set forth in other sections of this plan, the Township
shall contribute the amounts certified to be necessary by the fund's
actuary to provide the benefits provided by this plan.
F.Â
Contributions by members while on military service. A member who enters the military service during a time of national emergency either voluntarily or by conscription shall continue to make contributions to the plan as outlined in Subsection A based on the compensation in effect on the last day of service with the Township's Police Department. These contributions will continue throughout the length of his military service. During military service, the trustee shall continue to contribute to the fund for the officer's benefit. However, no contributions will be made either by or on behalf of a member who voluntarily extends his military service during peacetime.
G.Â
Other contributions. The fund shall be authorized
to receive by gift, grant, devise or bequest any money or property,
real, personal or mixed, in trust for the benefit of the fund. The
trustee of the fund shall be subject to such directions not inconsistent
with this plan as the donors of such funds and property may prescribe.
A.Â
Normal retirement.
(1)Â
Each member may retire on or at any time after his
normal retirement date. Any member so retiring shall be entitled to
receive a monthly pension commencing as of the first day following
his date of actual retirement and ending with the payment made as
of the first day of the month in which his death occurs. The monthly
pension to which such retired member shall be entitled to under this
plan shall be equal to 50% of such member's average applicable compensation.
Social Security offset to normal retirement benefit. There shall
be a seventy-five-percent offset of normal Act 600 pension benefits
with Social Security retirement benefits. This offset shall be subject
to negotiated reduction or elimination in future contracts but will
be eliminated on December 31, 2023.
[Added 10-15-2015 by Ord.
No. 2015-839] |
(2)Â
In addition to the monthly retirement benefit described
above, each member who has completed 26 years of service shall receive
an additional monthly pension benefit equal to $100 per month.
B.Â
Postponed retirement. An employee shall be allowed to continue as an employee beyond his normal retirement date. In such case, the employee shall remain a member of the plan until he actually retires or ceases to be an employee. Any contributions required pursuant to § 37-3A hereof shall continue.
C.Â
Disability benefit.
(1)Â
If a member retires because of a total and permanent disability, he shall receive a monthly pension for his lifetime in accordance with Subsection C(1)(a) and (b) below:
(a)Â
For each month that precedes the month in which
he would have been credited with 25 years of service had he continued
to be employed on a full-time basis in the same position he had prior
to his retirement for disability, the monthly pension shall be equal
to 70% of his disability benefit compensation.
(b)Â
For each month beginning with the month in which
he would have been credited with 25 years of service had he continued
to be employed in the same position he had prior to his retirement
for disability and until his death, the monthly pension shall be equal
to 50% of his disability benefit compensation.
(2)Â
For purposes of this Subsection C, disability benefit compensation shall be equal to the greater of his average applicable compensation or 1/12 of the compensation he received for the last 12 months of service. In the case of a member who has not served for 36 months, his average applicable compensation shall be the average of his compensation for the number of months that he was employed as a member.
(3)Â
Any payments under this Subsection C will be offset by other settlements received by the member on account of his disability, such as workers' compensation, or any future earnings from employment by the Township or otherwise. In no event, however, will the member's disability pension paid under this Subsection C exceed 100% of his compensation received in the twelve-month period preceding his retirement for disability.
(4)Â
Social Security disability pension offset. For all police officers
hired on or after January 1,2009, there shall be a dollar-for-dollar
offset of benefits received as disability pension from the Act 600
Police Pension Plan and Fund and the disability benefits received
from the Social Security Administration.
[Added 10-15-2015 by Ord.
No. 2015-839]
D.Â
Cost-of-living adjustment.
[Amended 12-2-1999 by Ord. No. 99-700]
(1)Â
There shall be a cost-of-living increase provided
to all members who retire; provided, however, that such cost-of-living
increase shall not exceed the percentage increase in the All Urban
Consumers CPI for the Philadelphia area from the year in which the
member last worked. The cost-of-living adjustment shall be calculated
on the member's average applicable compensation and shall apply to
all members on retirement who have not maximized the cost-of-living
allowance (COLA) benefits listed, provided further that in no case
shall the total police pension benefits exceed 75% of the salary for
computing retirement benefits, provided further that the total cost-of-living
increase shall not exceed 30%. No cost-of-living increase(s) shall
be granted which would impair the actuarial soundness of the plan.
The initial cost-of-living adjustments shall be made in January following
the year of retirement. All subsequent adjustments shall be made in
January and calculated on the twelve-month percentage change in the
consumer price index as of the previous October.
(2)Â
Subject to the limitations of Act 33 of 1996 which
amended Act 600, members receiving retirement benefits for 20 or more
years shall be granted a cost-of-living adjustment increasing their
pension benefit equal to, but not in excess of, 100% of their average
applicable compensation. In order to qualify for this benefit, a member
must serve until his normal retirement date. Any member who elects
early retirement, vesting or disability will not be eligible for this
benefit.
E.Â
Early retirement benefit. Each member may retire on or at any time after his early retirement date. Upon termination, the MEMBER must file with the Secretary of the Township a written notice of his intention to elect an early retirement benefit. This benefit shall become effective as of the date of the notice or the date designated in the notice, whichever is later. The amount of the early retirement benefit shall be the actuarial equivalent of a vested retirement benefit as computed in § 37-6A. The actuarial equivalent of the vested retirement benefit shall be determined by actuarially reducing the vested retirement benefit to reflect that it will commence on the effective date of the early retirement rather than on the member's normal retirement date. The actuarial reduction shall be calculated using the actuarial assumptions reported in the last actuarial valuation report filed with the Public Employee Retirement Commission.
[Added 12-2-1999 by Ord. No. 99-700]
F.Â
Deferred retirement option plan (DROP).
[Added 6-5-2003 by Ord. No. 2003-727; amended 11-4-2004 by Ord. No. 2004-740]
(1)Â
Eligibility. Any member who has reached his/her normal
retirement date may elect to become a participant in the DROP.
(2)Â
Election to participate. Election to participate in
DROP is irrevocable. The member shall make the election by using forms
and procedures as prescribed by the Trustee.
(3)Â
DROP pension payments. Upon entry into the DROP, a
member's service and average applicable compensation shall be frozen
and his/her DROP pension payment shall be calculated as if he/she
actually retired on the date he/she entered the DROP. The monthly
DROP pension payment, plus any applicable COLA, shall be paid to an
individual DROP investment account. The Trustee or a third-party administrator
shall maintain the account.
(4)Â
Individual DROP investment account. Each member shall
select the investments in his/her individual investment account from
an array of options as selected by the Trustee. The Trustee may select
a third party to provide mutual fund or other investment options,
recordkeeping and reporting to the members and the Trustee. All investment
and administrative costs shall be charged against the individual DROP
investment accounts of the participants.
(5)Â
Maximum participation.
[Amended 4-2-2009 by Ord. No. 2009-781]
(a)Â
The
maximum period of participation in the DROP is 60 months for members
below the rank of Lieutenant. Once the maximum participation has been
achieved, the member must terminate employment and separate from service.
(b)Â
The
maximum period of participation in the DROP for members who have reach
the rank of Captain or Lieutenant (i.e., hereinafter the command staff)
is 60 months, provided that a minimum of 100% of the actuarial requirement
of the pension fund is maintained. If the fund balance falls below
this level, any command officer entering the DROP will be restricted
for a maximum of 36 months of participation. This length of participation
limit will only become effective if future legislation requires that
DROP accounts earn a stated rate of interest or impose any additional
costs on the pension fund. No more than two of the command staff officers,
to include the Chief of Police, will be permitted to separate from
service to join the DROP within any twelve-month time frame.
(c)Â
The
Chief of Police will be permitted a maximum of 96 months’ participation
in the DROP.
(6)Â
Distribution options. Commensurate with DROP participation,
a member shall make an election, on forms designated by the Trustee,
of the payout option(s) he/she wishes at the termination of the DROP
period. This election may be changed at any time prior to termination.
The distribution options are as follows:
(a)Â
A full and lump-sum distribution.
(b)Â
Rollover to another qualified retirement plan
(as permitted by law) or to an IRA.
(c)Â
Purchase of an annuity.
(d)Â
Keep the monies in the individual DROP investment
account. Monies kept in the individual DROP investment account may
be withdrawn in any manner desired by the member.
(e)Â
Any other distribution provided by the Trustee/third
party administrator.
(7)Â
Beneficiary designation. Commensurate with DROP participation,
a member shall make an election, on forms designated by the Trustee,
of the beneficiary or beneficiaries he/she wishes to receive the monies
in his/her individual DROP investment account in the event of his/her
death before all monies have been distributed.
(8)Â
Disability. A member who becomes permanently disabled
during the DROP period and retires from service shall revert to his/her
normal age and service pension and to directly receive those pension
payments which were being deposited into his/her DROP investment account.
The participant will then have access to the distributions from his/her
individual DROP investment account.
(9)Â
Other aspects of employment. Except for promotion
and as otherwise stated above, members participating in DROP shall
be eligible for the same benefits as any other member.
(10)Â
If the Commonwealth of Pennsylvania passes and implements
legislation governing DROP plans in this state, any plan in effect
in Upper Merion Township will be brought into compliance with such
legislation when required.
A.Â
Death benefit if no surviving spouse nor dependent
children. If a member dies prior to the commencement of pension benefits,
then his designated beneficiary shall be entitled to a refund of his
accumulated member's contributions with credited interest. If no beneficiary
survives, then the refund is payable to the member's estate.
B.Â
Pension benefit to surviving spouse and dependent
children.
[Amended 6-5-2003 by Ord. No. 2003-727]
(1)Â
If the officer's death occurs after 12 years of service but before 20 years of service, then the survivor shall be eligible for a prorated pension to begin on what would have been the officer's superannuation date. See calculation in § 37-6B (1).
(2)Â
If the officer's death occurs after 20 years of service, then the survivor shall be entitled to a prorated pension to begin immediately. See calculation in § 37-6B(1).
(3)Â
If a member dies and is survived by a spouse or dependent
children, after having become eligible to receive a pension benefit,
(i.e., he/she was eligible because he/she was already receiving a
pension or he/she met the age and service requirements, but he/she
had not yet retired), then a monthly pension benefit shall be provided.
(4)Â
The amount of the monthly pension benefit shall be
100% of the pension the member was receiving or would have been entitled
to receive if he/she had been retired at the time of his/her death.
Any form of survivor benefits shall be offset in full by any workers'
compensation benefits that are received by the survivors.
(5)Â
The monthly pension benefit is payable to the surviving
spouse until death, then to the guardian or surviving dependent children
until the last dependent child dies or reaches his/her 18th birthday,
or age 23 if the child/children is attending an accredited college
on a full-time basis. Full-time attendance is defined as enrolled
in a course of study comprised of at least the equivalent of seven
semester hours per term. Dependent children shall include stepchildren,
adopted children, and any child conceived before the time of the member's
death and thereafter born to the member's spouse.
C.Â
If a police officer who is an active participant (including
a member of any current and future DROP that may exist and in which
the retired officer may be a participant) is killed in service while
performing police services for the employer, the participant's
surviving spouse or eligible dependents (if any, as defined by Act
51 of 2009) shall receive a benefit under Act 51 of 2009[1]. The benefit provided under Act 51 is the only pension
benefit that shall be payable to the survivors of a officer who is
killed in service, and no survivor pension benefit of any type shall
be payable under the Upper Merion Township Police Pension Plan.
[Amended 6-5-2003 by Ord. No. 2003-727; 6-26-2014 by Ord. No. 2014-823]
[1]
Editor's Note: See 53 P.S. § 891.
A.Â
If a member leaves the employ of the Township or ceases to be a member, whether by reason of his transfer, resignation or discharge, or by reason of disability or retirement other than after becoming eligible for benefits pursuant to § 37-4 or 37-5 of this plan, he shall be entitled to a refund of all contributions made by him and then on deposit in the fund, plus interest thereon, computed at the rate described in § 37-3A.
B.Â
However, a member who has completed 12 or more years of service may elect either Subsection B(1) or (2) as described below:
(1)Â
He may elect to leave his contributions, plus interest, in the fund so as to receive a vested pension benefit to start at his normal retirement date. He must file with the Secretary of the Township within 90 days of the date he ceases to be an employee a written notice of his intention to vest. The amount of the vested pension benefit shall be (x) divided by (y) where (x) is the number of years of service at the date of termination and (y) is the number of years of service which the member would have had if he worked until normal retirement date, multiplied by the benefits described in § 37-4A. Years of service shall be measured in years and completed months.
(2)Â
He may elect to receive a refund of all contributions made by him and then on deposit in the fund, plus interest thereon, computed at the rate described in § 37-3A. If he elects to receive the refund of his contributions plus interest, he would forfeit the pension benefit outlined in Subsection B(1).
B.Â
The normal form of all benefits payable hereunder shall be a pension for the life of the member commencing on the date specified and ending with a payment made on the first day of the month in which the member dies, subject, however, to the payment of a death benefit calculated pursuant to § 37-5B.
A.Â
It is the duty of the trustee to pay the benefits to members and their beneficiaries, as provided in §§ 37-4, 37-5 and 37-6, in accordance with the instructions received from the board; provided, however, that the duty of the trustee to make such payments is wholly contingent upon the sufficiency of the fund for such purposes.
B.Â
The Township may employ an actuary, investment advisors,
counsel or other professional consultants from time to time in connection
with the operation of the fund or of this plan. Such persons or entities
shall be compensated by the Township at such rates as may be agreed
upon by the Board or may be paid from the fund.
C.Â
The trustee shall make an annual determination of
the fair market value of the fund as of the anniversary date and as
of such additional dates as the Board may direct.
D.Â
The fair market value of the fund shall be reported
to the actuary who shall calculate the amount to be contributed to
the fund by the Township with respect to each plan year in accordance
with the assumptions most recently adopted by the Board for the purpose
of such computations; provided, however, that the liability of the
Township to make such contributions is subject to all of the conditions
and limitations set forth elsewhere in this plan.
A.Â
The plan shall be administered by the Board of the
Township. The Board shall make and adopt rules and regulations for
the efficient administration of the plan.
B.Â
The Board shall keep all data, records and documents pertaining to the administration of the plan and shall execute all documents necessary to carry out the provision of the plan and shall provide all such data, records and documents to the professionals whose services are employed pursuant to § 37-8B of this plan.
C.Â
The Board shall construe the plan, shall determine
any questions or fact arising under the plan and shall make all decisions
required of it under the plan. Decisions and actions taken thereon
in good faith shall be final and conclusive. It may correct any defect
or supply any omission or reconcile any inconsistency in such manner
and to such extent as it shall be the sole judge of such expediency.
The Board shall act uniformly with respect to matters coming before
it concerning employee in similar circumstances.
D.Â
The Board and each of the individual members thereof
shall be free of all liability for any act or omission except by willful
misconduct or gross negligence, and the Board and each individual
member shall be fully indemnified by the Township against all judgments
not involving findings of their respective personal or collective
willful misconduct or gross negligence and against all cost, including
counsel fees, incurred in defense of actions brought against them.
E.Â
The Board shall make available to members, retired
members and terminated members and to their beneficiaries, for examination
during business hours, such records as pertain to the person examining.
F.Â
To enable the Board to perform its function, the Township
administration shall supply full and timely information to it on all
matters relating to the pay of all members, their retirement, death,
termination of employment and such other pertinent facts as the Board
may require.
G.Â
The Board shall enact such rules and regulations for
the conduct of its business and for the administration of the plan
as it may consider desirable, provided that the same shall not be
in conflict with any of the provisions of the plan. All actions of
the Board shall be taken at meetings at which at least four members
shall be present, or by written resolutions of not less than four
of its members. Written minutes shall be kept of the meetings and
actions of the Board.
H.Â
The Secretary, acting on behalf of the Board, shall
have the power to execute all documents necessary to carry out the
actions of the Board, and any person, partnership, corporation or
government agency shall accept such documents over such signature
or signatures as if executed by the Board.
A.Â
A committee shall be created to monitor the operation
of the fund and plan and to advise the Township Manager and Board
on matters concerning the administration of the fund and plan. The
Committee shall review and supervise the investment and expenditures
of moneys in the fund and plan.
B.Â
Each individual member of the Committee so designated
shall serve until death, resignation, removal or disqualification.
Any Committee member may resign upon written notice to the Board and
the Committee. Any vacancies in the Committee arising from resignation,
death or removal shall be filled by the successor of the individual
whose resignation, death or removal has created the vacancy.
C.Â
The Committee shall act by such procedure as the Committee
shall establish. All decisions of the Committee shall be by majority
vote. The Committee may authorize one of its members to execute any
document or documents on behalf of the Committee. The Committee may
adopt such bylaws and regulations as it deems necessary for the conduct
of its affairs and may appoint such accountants, counsel, actuaries,
specialists or such other person as it may deem advisable for the
proper administration of the plan. No such regulation, bylaw or appointment
shall be effective until such is approved by the Board, and the expenses
incurred by the retention of such professionals shall be subject to
the prior approval of the Board.
D.Â
The Committee shall keep a record of all proceedings
and acts and shall keep all such books of accounts, records and other
data as shall be necessary for the proper administration of the plan.
All actions of the Committee shall be communicated to the Board.
E.Â
All books, records, accounts, ledgers, transcripts,
bank records, assets and tangible property of value shall be kept
and in the custody of the employer, or any person designated by the
Chairman of the Board.
F.Â
The Committee shall serve without compensation for
its services but shall be reimbursed for all reasonable expenses incurred
in the administration of the plan. Such expenses shall be subject
to the prior approval of the Board.
G.Â
No Committee member shall incur any liability for
any action or failure to act, except in the case of liability for
gross negligence or willful misconduct. The employer shall indemnify
each Committee member against any and all claims, loss, damages, expense
and liability arising from any action or failure to act, except for
such that is the result of gross negligence or willful misconduct.
H.Â
All checks, drafts, order to pay money, deposits of
money and all transactions concerning the receipt or disbursement
of any money shall be prepared by the employer or any person designated
by the Chairman of the Board.
I.Â
The Committee shall meet at least annually for the
purpose of reorganizing and reviewing the biannual actuarial report.
Other meetings shall be held whenever a majority of the Committee
concurs that a meeting would be desirable.
A.Â
It is the expectation of the Township that it will
continue this plan indefinitely and will, from time to time, contribute
to the fund such amounts as may be needed to provide the benefits
set forth in the plan.
B.Â
The provisions of any ordinance establishing, amending
or maintaining the plan shall not be a charge on any other fund in
the Treasury of the Township or under its control, save the Uniformed
Employee's Pension Fund herein provided for.
C.Â
Nothing contained in the plan shall be held or construed
as a contract or guarantee of employment nor to create any liability
upon the Township to retain any person in its service. The Township
reserves the full right to discontinue the service of any person without
any liability except for salary or wages that may be due and paid
whenever in its judgment its best interests so require, and such discontinuance
shall be without regard to this plan.
A.Â
The Township may amend this plan from time to time
as is necessary to maintain its actuarial soundness and to incorporate
changes in plan benefits or entitlements. However, no amendment shall
be made which will, in any manner, divert any part of the fund to
any purpose other than the exclusive benefit of members or their beneficiaries
(except that, upon termination, such diversion may be made after all
of the fixed and contingent liabilities to members and their beneficiaries
have been met); nor shall any amendment be made at any time which
will in any manner divest any benefit then vested in a member or reduce
or eliminate a benefit to which a member has been given an expectation
by virtue of pension ordinance or pension calculations for retiring
officers who retired during the member's participation in this plan.
B.Â
In the event of termination of this plan, the Board
shall allocate the assets then remaining in the fund as follows:
(1)Â
Sufficient funds shall be maintained to provide the pension benefits prescribed in § 37-3 for all members who have retired prior to termination or who are eligible for retirement at the time of the termination of this fund.
(2)Â
Contributions with interest at a rate established by the Board as provided in § 37-5 shall be refunded to any and all members who terminate service at the time of the termination of the fund.
A.Â
Legal indebtedness.
(1)Â
No benefit under this plan shall be subject in any
manner to anticipation, alienation, sale, transfer, assignment, pledge
or encumbrance, nor to seizure, attachment or other legal process
for the debts of any member or member's beneficiary.
(2)Â
This provision shall not apply to a qualified domestic
relations order, defined in Code Section 414(p), and those other domestic
relations orders permitted to be so treated by the Board under the
provisions of the Retirement Equity Act of 1984. The Township shall
establish a written procedure to determine the qualified status of
domestic relations orders to administer distributions under such qualified
orders. Further, to the extent provided under a qualified domestic
relations order, a former spouse of a member shall be treated as the
spouse or surviving spouse for all purposes under this plan.
B.Â
Any person dealing with the Township may rely upon
a copy of this plan and any amendments thereto certified to be true
and correct by the trustee.
C.Â
In no circumstances, whether upon amendment or termination
of this plan or otherwise, shall any part of the fund be used or diverted
to any purpose other than the exclusive benefit of members or their
beneficiaries until all of the actuarial obligations to such member
or member's beneficiaries have been met.
D.Â
If the Board deems any person incapable of receiving
benefits to which he is entitled by reason of minority, illness, infirmity
or other incapacity, it may make payment directly for the benefit
of such person to the guardian or trustee for said person, whose receipt
shall be complete acquittance therefor. Such payment shall discharge
all liability of the Township or the fund.
E.Â
Should any provision of this plan be determined to
be void by any court, the plan will continue to operate and, to the
extent necessary, will be deemed not to include the provision determined
to be void.
F.Â
Headings and captions provided herein are for convenience
only and shall not be deemed part of the plan.
G.Â
This plan shall be construed and applied under the
laws of the Commonwealth of Pennsylvania.
H.Â
This article repeals all other ordinances prior to
the date of its enactment.