The following words and phrases as used herein
shall have the meanings set forth in this article, unless a different
meaning is plainly required by the context:
As of any given computation date, a participant’s monthly normal retirement benefit determined in accordance with § 33-82, which amount shall be based upon the participant’s continuous service determined as of such computation date and which shall represent the monthly benefit which would be payable in the normal form as of the participant’s attainment of normal retirement age, provided that the participant shall satisfy all requirements pursuant to the terms of the plan for entitlement to receive such benefit. In no event, however, shall the accrued benefit exceed the maximum limitation, determined as of the date of computation, provided under § 33-92. All accrued benefits are subject to all applicable limitations, reductions, offsets and actuarial adjustments provided by the plan prior to the actual payment thereof.
The total amount contributed by any participant to this fund or its predecessor by way of payroll deduction or otherwise, plus interest credited at 5% per annum. Interest shall be credited annually in the form of a compound interest rate from the January 1 following the date during which the contributions were paid to the first day of the month preceding the date on which a distribution of accumulated contributions under § 33-106 shall be paid or payment of benefits shall commence.
The Municipal Pension Plan Funding Standard and Recovery
Act which was enacted as Act 205 of 1984, as amended, 53 P.S. § 895.101
et seq.
Two forms of payment of equal actuarial present value on
a specified date. The actuarial present value shall be determined
by use of the UIP-1984 Mortality Table and 7% interest unless otherwise
specifically provided herein.
The person, partnership, association or corporation which
at any given time is serving as actuary; provided that such actuary
must be an “approved actuary” as defined in the Act.
The total period or periods of the participant’s employment
with the employer whether or not interrupted. Notwithstanding the
preceding sentence, should any such participant receive a distribution
of accumulated contributions with respect to a period of employment,
such period of employment shall not be included in aggregate service
thereafter unless, at the commencement of the next period of employment,
the participant repays to the fund the amount of such distribution
with interest. For purposes of this definition, interest shall accrue
as of the date the employee receives a distribution of accumulated
contributions and shall be computed at the same rate and in the same
manner as described in the definition of “accumulated contributions.”
A leave of absence granted in writing by the employer for
reasons including, but not limited to, accident, sickness, pregnancy,
temporary disability, education, training, jury duty, or such other
reasons as may necessitate authorized leave from active employment. “Authorized
leave of absence” shall include a period of time for active
service with the armed forces of the United States of America provided
that such service shall commence after the participant has completed
at least six months of aggregate service and the participant shall
return to employment within the time prescribed by law following separation
from such military service during which the participant’s reemployment
rights are protected.
The average monthly salary earned by the participant and
paid by the employer during the highest 60 months of the last 120
months immediately preceding termination of active employment. Salary
shall include the regular base pay of the employee, whether salary
or hourly wages paid by the employer for services rendered.
[Added 1-22-2003 by Ord. No. 1550]
The person or entity designated by the participant to receive
such benefits as may be due hereunder upon the death of the participant.
In the event that a participant does not designate a beneficiary or
the beneficiary does not survive the participant, the beneficiary
shall be the surviving spouse; or, if there is no surviving spouse,
the issue, per stirpes; or, if there is no surviving issue, the estate;
but if no personal representative has been appointed, to those persons
who would be entitled to the estate under the intestacy laws of the
Commonwealth of Pennsylvania if the participant had died intestate
and a resident of Pennsylvania.
The person designated by the Borough who has the primary
responsibility for the execution of the administrative affairs for
the plan.
The Pension Committee which may be appointed by the Council
to administer the terms of the plan.
The base pay, whether salary or hourly wages paid to an employee
by the employer for services rendered in employment. Compensation
shall be limited on an annual basis for purposes of this plan to the
amount specified pursuant to Internal Revenue Code Section 401(a)(17),
as amended, as adjusted under Internal Revenue Code Section 415(d),
as amended.
[Added 1-22-2003 by Ord. No. 1550]
The aggregate period of time in whole years
and fraction thereof from the employee’s employment commencement
date through an employee’s retirement date. Fractions of years,
by the number of days of service, shall be aggregated and computed
to five decimal places by dividing the total number of days by 365.
Continuous service shall not include any period of time during which
any employee made contributions to the plan which were subsequently
withdrawn by him and not later repaid according to the provisions
of the plan.
Continuous service shall also include any period
of qualified military service as determined under the requirements
of Chapter 43 of Title 38, United States Code, as amended, provided
that the participant returns to employment following such period of
qualified military service, and the participant makes payment to the
plan in an amount equal to the participant contributions that would
otherwise have been paid to the plan during such period of qualified
military service. The amount of participant contributions shall be
based upon an estimate of the compensation that would have been paid
to the participant during such period of qualified military service
as determined by the average compensation paid to the participant
during the 12 months immediately preceding the period of qualified
military service. The amount of participant contributions so calculated
must be paid into the plan before the end of the period that begins
on the date of reemployment and ends on the earlier of the date that
ends the period that has a duration of three times the period of qualified
military service, or the date that is five years after the date of
reemployment.
The Borough Council of the Borough of Crafton.
A participant who has completed at least eight years of service, who has separated from employment for reasons other than retirement or death, and who has elected to receive a vested retirement benefit pursuant to § 33-107 to commence at a later date.
[Amended 5-11-2005 by Ord. No. 1569]
The date on which the participant has attained age 62.
The first day of the month coincident with or next following
the date on which a participant who has attained early retirement
age ceases employment and chooses to commence receipt of retirement
benefits prior to the normal retirement date.
Any individual employed by the employer as a regular full-time
employee of the Borough, excluding, however, any person who is, or
becomes, a member of the Police Department of the Borough.
The Borough of Crafton, Allegheny County, Pennsylvania.
Any period of time for which an employee is directly or indirectly
compensated or entitled to compensation by the employer for the performance
of duties as an employee, including any period of authorized leave
of absence. Employment shall exclude any period of time during which
services are performed as an independent contractor on a contractual
or fee basis.
A legal reserve life insurance company authorized to do business
in the Commonwealth of Pennsylvania.
The Internal Revenue Code of 1986, as amended.
The first day of the month coincident with or next following
the date on which a participant shall retire from employment which
occurs after the normal retirement date.
The minimum obligation of the municipality as determined
by the actuary pursuant to provisions of the Act.
Any employee of the employer who has met the eligibility requirements of Article XIV and who is not represented by a collective bargaining agreement under this plan.
[Added 1-22-2003 by Ord. No. 1550]
The date on which the participant has attained age 65 and
completed 10 years of service.
The first day of the month coincident with or next following
the attainment of normal retirement age.
A written document prepared in the form specified by the
plan administrator and delivered as follows: if such notice or election
is to be provided by the employer or the plan administrator, it shall
be mailed in a properly addressed envelope, postage prepaid, to the
last known address of the person entitled thereto, on or before the
last day of the specified notice or election period; or, if such notice
or election is to be provided to the employer or the plan administrator,
it must be received by the recipient on or before the last day of
the specified notice or election period.
An employee who has met the eligibility requirements to participate in the plan as provided in § 33-72 and who has not for any reason ceased to be a participant hereunder.
The pension fund administered under the terms of this plan
and which shall include all money, property, investments, policies
and contracts standing in the name of the plan.
The plan set forth herein, as amended from time to time,
and designated as the “Borough of Crafton Nonuniformed Pension
Plan.”
The Committee or individual appointed by the Council for
the purpose of supervising and administering the provisions of the
plan. In the event that no such appointment is made, the plan administrator
shall be the Council.
The twelve-month period beginning on January 1 and ending
on December 31 of each year.
A retirement annuity or retirement income endowment policy
(or a combination of both) or any other form of insurance contract
or policy which shall be deemed appropriate in accordance with the
provisions of applicable law.
January 1, 2001, the date upon which this amendment and restatement
of the plan becomes effective.
Any employee of the employer who is a member of the General Teamsters, Chauffeurs and Helpers, Local Union No. 249, affiliated with the International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of America and who has met the eligibility requirements of Article XIV.
[Added 1-22-2003 by Ord. No. 1550]
Each completed period of 12 months of aggregate service.
