[Adopted 12-7-1981]
The municipality adopts the Pennsylvania State
Association of Boroughs Deferred Compensation Plan for the voluntary
participation of eligible municipal employees and to appoint the Pennsylvania
State Association of Boroughs as bargaining agent with any and all
powers and authority to accomplish the objectives of the plan according
to the understanding of the Pennsylvania State Association of Boroughs.
The Municipal Administrator is authorized to
execute for the municipality individual participation agreements with
every employee electing to participate, to act as the administrator
of the plan representing the borough and to execute all agreements
and contracts necessary to implement the Pennsylvania State Association
of Boroughs plan for the borough or individual employees.
It is implicitly understood that other than
incidental expenses of collecting and disbursing the employees' deferrals
and other minor administrative matters, there is to be no administrative
cost to the municipality for the program.
