[Adopted 2-8-2000 by Ord. No. 29-2000]
For the purposes of this article, the following definitions shall apply:
ACCRUED BENEFIT
One-half of the participant's final average monthly compensation of the last 36 months of service to the date of retirement.
ACT 205
Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery Act.
AGE
Age at nearest birthday.
ATTENDING COLLEGE
The eligible children are registered at an accredited institution of higher learning and are carrying a minimum course load of seven credit hours per semester.
[Added 6-21-2007 by Ord. No. 2007-005, approved 6-21-2007]
ANNIVERSARY DATE
January 1 of each year.
DEFERRED RETIREMENT OPTION PLAN (DROP)
A distribution option available to members who qualify and who so voluntarily elect as provided in the Bridgeport Borough Code.
[Added 2-22-2005 by Ord. No. 2005-002, approved 2-22-2005]
DISABILITY
A total and permanent disability which renders a participant incapable of performing all normal police duties permanently. In determining total and permanent "disability," the opinion of a physician selected by the Borough shall be controlling. The condition of permanence shall require the complete utilization of all accrued and unused sick time. During such time the participant shall be totally, permanently and continuously disabled. Benefits shall commence on the first day of the month following exhaustion of sick time and the determination of total and permanent "disability" by the selected physician.
EFFECTIVE DATE
The original effective date of the plan is January 1, 1970.
EMPLOYER
The Borough of Bridgeport, Montgomery County, Commonwealth of Pennsylvania.
FINAL AVERAGE MONTHLY COMPENSATION
Compensation during the last 36 months of employment as a full-time police officer of the Borough of Bridgeport, Including base pay, holiday pay, longevity pay and overtime pay.
FUND
The Borough of Bridgeport Police Pension Fund.
KILLED IN SERVICE
Shall be defined the same way as a fatal work-related injury is defined under the Pennsylvania Worker's Compensation Act. A fatal injury in order to be considered as a "killed in service" injury must be suffered in the course and scope of Bridgeport police employment and must be causally related to the officer's job. The officer's death must occur as a result of the officer performing official duties and the death must have been caused by the officer's performance of his or her duties.
[Amended 2-22-2005 by Ord. No. 2005-002, approved 2-22-2005]
PARTICIPANT
Any police officer who meets the requirements set forth in § 72-33 of this article. The masculine will include the feminine.
PLAN
The Borough of Bridgeport Police Pension Plan.
PLAN YEAR
January 1 to December 31.
SERVICE
Continuous employment with the employer. All military service shall be credited if a police officer has been employed for at least six months before entering the military service, provided that the officer returns to the police force within six months after the officer's discharge.
This plan is to be funded and maintained by any of the following methods or a combination of each:
A. 
Contributions by participants. All participants shall make contributions which shall be 5% of their total compensation but no more than 8% of their total compensation, but which may be reduced or eliminated if an actuarial study indicates that if such contributions were reduced or eliminated contributions by the Borough will not be required to keep the fund actuarially sound. Any reduction or elimination of contributions shall be authorized on an annual basis by resolution or ordinance of the Borough Council.
B. 
State aid. Funds which are received from the Commonwealth of Pennsylvania pursuant to Act 205, which are directed to this plan as approved by the Borough Council, may be used.
C. 
Borough contributions. Contributions from the Borough of Bridgeport as necessary, with appropriate approval by the Borough Council, may be used.
D. 
Gifts, grants, devises or bequests. The sums which may be received by the Borough of Bridgeport in the form of gifts, grants, devises or bequests may, to the extent authorized by law, be contributed to said fund with the approval of the Borough Council.
E. 
Any other sums received or contributed to the Borough, to the extent authorized by law and with prior approval of the Borough Council, may be used.
A. 
Subject to the control and direction of the Borough Council, the handling of said Police Pension Fund is hereby committed to a Committee to be known as the "Police Pension Fund Committee." Said Committee shall be composed of three members; namely, the Borough Manager; a member of the Bridgeport Police Department selected by those members of the Police Department who participate in the Police Pension Fund; and the appointed pension plan administrator.
B. 
The Police Pension Fund Committee shall have full responsibility for administration of the plan and fund. The Committee shall hold, invest, reinvest and distribute all funds and property received pursuant hereto in trust for purposes of this article. The Committee may receive at any time gifts, grants, devises or bequests to the Police Pension Fund of any money or property, real or personal or mixed, to be held by the Committee in trust for the benefit of this fund and in accordance with the provisions hereof. The Committee shall be subject to such rules and regulations as may from time to time be adopted by the Borough Council through ordinance or resolution.
C. 
The Police Pension Fund Committee shall have full power and authority, either directly or through its designated representatives, to do all acts, to execute, acknowledge and deliver all instruments and to exercise for the sole benefit of the participants hereunder any and all powers and discretions necessary to implement and effectuate the purposes of this article, including, for purposes of illustration, but not limited to any of the following:
(1) 
To hold, invest and reinvest all funds received pursuant to this article in such investments as may be authorized as legal investments under the laws of the Commonwealth of Pennsylvania.
(2) 
To retain any property which may at any time become an asset of the fund, as long as the Committee may deem it advisable.
(3) 
To make distribution of the moneys in the fund, in accordance with the terms of this article.
(4) 
To appoint a trustee or custodian to hold, invest and reinvest plan funds in accordance with this article. Such trustee or custodian may be removed or resign by giving 60 days' written notice to the other party. The Committee shall maintain the authority to oversee and review the performance of the trustee or custodian both on an investment and administrative basis. Plan funds may be invested in pooled funds designated for employee benefit trust funds.
D. 
Any administrative expense which is an allowable administrative expense under Act 600 of the Commonwealth of Pennsylvania will be payable from the assets of the fund. If administrative expenses are not or cannot be paid from the fund, the expense will be paid by the Borough of Bridgeport. The Borough Council of the Borough of Bridgeport may retain an outside administrator to perform the administrative duties normally associated with the plan.
Each police officer of the Borough of Bridgeport will be eligible to participate upon becoming a full-time police officer.
[Amended 4-13-2010 by Ord. No. 2010-001, approved 4-13-2010; 7-20-2021 by Ord. No. 2021-003, approved 7-20-2021]
A. 
Any police officer employed by the Borough of Bridgeport and hired as a full-time officer before January 31, 2014 shall be entitled to full retirement benefits after a minimum period of service of 25 years with the Borough of Bridgeport and the attainment of age 50. Any police officer employed by the Borough of Bridgeport and hired as a full-time officer after January 31, 2014 shall be entitled to full retirement benefits after a minimum period of service of 25 years with the Borough of Bridgeport and the attainment of age 55.
B. 
Any officer who at the time of his retirement shall have completed 26 years of continuous service shall receive the additional monthly sum of $100 per month, in addition to said officer's regular computed retirement benefit. Any officer who at the time of his retirement shall have completed 27 years of continuous service shall receive the additional monthly sum of $200 per month, in addition to said officer's regular computed retirement benefit.
[Added 2-22-2005 by Ord. No. 2005-002, approved 2-22-2005]
A. 
Eligibility: Any member who has reached his/her normal retirement date may elect to become a participant in the DROP.
B. 
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 Pension Board trustees.
C. 
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. A third-party administrator shall maintain the account, independent of the Borough of Bridgeport. There shall be no additional costs to the Borough of Bridgeport under the DROP. In the event there are additional costs or expenses to the Borough of Bridgeport as a result of the DROP, individual DROP participants shall indemnify the Borough and hold it harmless from additional costs, and any and all additional costs shall be charged against the individual DROP investment accounts of the participants.
D. 
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 trustees. The trustees will select a third party to provide mutual fund or other investment options, recordkeeping and reporting to the members and the trustees. All investment and administrative costs shall be charged against the individual DROP investment accounts of the participants.
E. 
Employee contributions. Upon entry into the DROP, all Borough and employee contributions shall cease, with no additional costs to the Borough.
F. 
Maximum participation. The maximum period of participation in the DROP is 36 months. Once the maximum participation has been achieved, the member must terminate employment and separate from service.
G. 
Distribution options. Commensurate with DROP participation, a member shall make an election, on forms designated by the Pension Board trustees, 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:
(1) 
A full and lump-sum distribution.
(2) 
Rollover to another qualified retirement plan (as permitted by law) or to an IRA.
(3) 
Purchase of an annuity.
(4) 
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.
(5) 
Any other distribution provided by the Pension Board trustees/third party administrator.
H. 
Beneficiary designation. Commensurate with DROP participation, a member shall make an election, on forms designated by the Pension Board trustees, 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.
I. 
Disability: A member who becomes permanently disabled during the DROP period and retires from service shall revert to his/her normal retirement 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.
J. 
If the Commonwealth of Pennsylvania passes and implements legislation governing DROP plans in this state, any plan in effect in the Borough of Bridgeport will be brought into compliance with such legislation when required:
[Amended 2-22-2005 by Ord. No. 2005-002, approved 2-22-2005]
A. 
Every participant who shall receive an honorable discharge from the police force of the Borough of Bridgeport by reason of his or her disability shall, upon discharge (following the requirements as defined in § 72-30 and defined under the term "disability"), be paid out of the fund a monthly pension which will equal 1/2 of final salary at the date of disability.
B. 
Service-connected disability benefits. If a police officer incurs a service-connected disability performing his duties, he or she would be entitled to receive a disability benefit of 50% of the police officer's final salary at the date of disability.
(1) 
The amount of any service-related disability benefit shall be reduced by the amount of social security disability benefits received for the same injury.
[Added 6-21-2007 by Ord. No. 2007-005, approved 6-21-2007]
[Amended 2-22-2005 by Ord. No. 2005-002, 6-21-2007 by Ord. No. 2007-005, approved 6-21-2007; 4-13-2010 by Ord. No. 2010-001, approved 4-13-2010]
Effective January 1, 2008, in the event of the death of a full-time police officer of the Borough of Bridgeport who is retired (on or after January 1, 2008) or eligible to receive a normal retirement benefit as set forth under § 72-34, if he or she shall be survived by a spouse, the spouse shall be entitled to receive 100% of the pension which the officer was receiving or would have received had he or she been retired at the time of his death until the date of death of the spouse. If the officer shall be survived by no spouse and shall leave surviving a child or children under the age of 18 years, or age 23 if attending college full time, then he or she would be entitled to receive 100% of the pension which the officer was receiving or would have received had he or she been retired at the time of his death until the date of death of the spouse.
A. 
Any full-time police officer shall be 100% vested after 12 years of service in the accrued benefit to the date of termination.
B. 
Any member of the police force who, for any reason whatsoever, shall be ineligible to receive a pension after having contributed any moneys to the fund established pursuant to this article and/or to a police pension fund of the Borough existing prior to the effective date of this article shall be entitled to a refund of all such moneys paid by him or her into such police pension fund, plus interest earned on such moneys calculated at the rate to be determined annually by the Police Pension Fund Committee. If any former police officer who received said refund is again employed by the Borough as a full-time police officer, he or she shall be reinstated as a participating member of the fund and receive credit for past service upon contributing to the fund the amount of the refund and interest, if any, received by him or her when employed.
The pension payments herein provided for shall not be subject to attachment, execution, levy, garnishment or other legal process and shall be payable only to the participant or his or her designated beneficiary. No participant or his or her beneficiary shall have any right to alienate, encumber or assign any assets of the fund held by the Police Pension Fund Committee on his or her behalf or any of the benefits or payments or proceeds of any contract or agreement purchased or acquired by the Borough hereunder.
[Added 10-23-2007 by Ord. No. 2007-009, approved 10-24-2007]
Upon retirement, the Borough of Bridgeport shall include accumulated unused sick leave in the pension calculation of the retired officer, provided that the unused sick leave was earned during the applicable pension computation period, which is the last 36 months of his or her employment as a police officer of the Borough.