[HISTORY: Adopted by the Board of Supervisors
of the Township of Lancaster 3-11-2019 by Ord. No. 2019-01.[1] Amendments noted where applicable.]
[1]
Editor's Note: This ordinance also superseded former Ch. 42,
Pensions, adopted 12-8-2014 by Ord. No. 2014-07.
Lancaster Township (the Township), having established a municipal
pension plan administered by the Pennsylvania Municipal Retirement
System (the system), hereby elects to amend its municipal pension
plan administered by the system in accordance with Article IV of the
Pennsylvania Municipal Retirement Law, 53 P.S. § 881.101 et seq.
(Retirement Law), and does hereby agree 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 chapter, the Township agrees that the system
shall administer and provide the benefits set forth in the amended
municipal pension plan and police pension plan contracts entered into
between the Pennsylvania Municipal Retirement Board and the Township
effective April 1, 2019 (the contracts).
The Township acknowledges that, by passage and adoption of this
chapter, the Township officially accepts the contracts and the financial
obligations resulting from the administration of the contracts.
Payment for any obligation established by the adoption of this
chapter and the contracts shall be made by the Township in accordance
with the Retirement Law and the Municipal Pension Plan Funding Standard
and Recovery Act. The Township hereby assumes all liability for any
unfundedness created due to the benefit structure set forth in the
contracts.
The Township intends this chapter to be the complete authorization
of the contracts and they shall become effective on April 1, 2019,
which is the effective date of the contracts.
A duly certified copy of this chapter and executed contracts
shall be filed with the system.
