[Adopted 5-19-2003 by Ord. No. 1123[1]]
[1]
Editor's Note: This ordinance superseded the prior retirement
ordinance, adopted November 14, 1961. This ordinance specifically
repeals Ord. No. 816 immediately or on January 2, 2003.
Ridley Park Borough, being a member municipality of the Pennsylvania
Municipal Retirement System, hereby elects to change its member benefits
in that system as authorized by the Pennsylvania Municipal Retirement
Law, Act 15 of 1974, as amended,[1] and does hereby agree to be bound by all the requirements and provisions of said Law, and to assume all obligations, financial and otherwise, placed upon member municipalities. All references hereafter shall be based on benefits negotiated between the Board and the municipality under the provisions of Article IV of the Pennsylvania Municipal Retirement Law.
[1]
Editor's Note: See 53 P.S. § 881.101 et seq.
Membership in the Pennsylvania Municipal Retirement System shall
be mandatory for all permanent municipal employees of the Borough.
Membership for elected officials and employees hired on a temporary
or seasonal basis is prohibited, as is membership for individuals
paid only on a fee basis.
Credit for prior service for original members is granted for
each year or partial year thereof that the member was employed by
the Ridley Park Borough from original date of hire or the expiration
of the member's probationary period if one so existed. Benefits
provided to members in the agreement dated May 19, 2003, shall accrue
based on all credited service granted and earned in accordance with
this article.
Payment for any obligation established by the adoption of this
article and the agreement between the System and Ridley Park Borough
shall be made by the Ridley Park Borough in accordance with the Pennsylvania
Municipal Retirement Law and Act 205 of 1984, the Municipal Pension
Plan Funding Standard and Recovery Act.[1]
[1]
Editor's Note: See 53 P.S. § 895.101 et seq.
As part of this article, the Ridley Park Borough agrees that
the System shall provide the benefits set forth in the agreement between
the Board and Ridley Park Borough, dated May 19, 2003. The passage
and adoption of this article by Ridley Park Borough is an official
acceptance of said agreement and the financial obligations resulting
from the administration of said benefit package. Ridley Park Borough
hereby assumes all liability for any unfundedness created or which
may be created due to the acceptance of the benefit structure outlined
in the above-referenced agreement.
Ridley Park Borough intends
this article to be the complete authorization of the Ridley Park Borough
plan and it shall become effective and specifically repeals Ordinance
Number 816 either immediately or on January 2, 2003, which is the
effective date of the amended agreement dated May 19, 2003, between
the Pennsylvania Municipal Retirement System and Ridley Park Borough,
whichever is later.
A duly certified copy of this article and the referenced agreement
shall be filed with the Pennsylvania Municipal Retirement System of
the Commonwealth of Pennsylvania. Membership for the municipal employees
of Ridley Park Borough in the Pennsylvania Municipal Retirement System
shall be effective the first day of January 1962, with the revised
plan structure reflected in the agreement dated May 19, 2003, effective
the second day of January 2003.
