[Adopted 8-28-1980 by Ord. No. 393]
[Amended 5-22-2008 by Ord. No. 849[1]]
A.
There shall
be a Committee of five members, serving as advisors to the Board of
Supervisors regarding the Police Pension Fund.
B.
The Committee
shall be known as the "Police Pension Fund Committee."
C.
Membership
of the Committee shall be as follows:
(1)
Two
voting members who are active police officers and who are represented
as part of the bargaining unit, elected annually by majority vote
of the active police officers employed as of the date no less than
30 days prior to the election date.
(2)
Two
voting members who are retired from the active police force, including
those members receiving disability benefits under the Police Pension
Plan, elected annually by majority vote of the retired police officers
participating in the Police Pension Fund as of the date no less than
30 days prior to the election date.
(3)
One
voting member elected by those active police officers who are not
represented as part of the bargaining unit (the senior officers),
elected annually by a majority vote of such senior officers.
D.
The term
"election date" is defined as either the date on which an election
is conducted by the Township for members of the Committee representing
the active police officers or the date on which ballots for election
of members representing retired officers is mailed by the Township
to such retired officers.
[1]
Editor's Note: This ordinance also changed the title of this
article from Employees' Retirement Plan Committee to Police Pension
Fund Committee.
[Amended 8-11-1983 by Ord. No. 474]
The Board of Supervisors shall remain the sole
trustees for the funds of the three pension plans and shall serve
without compensation for services as such, but all expenses of the
trustees shall be paid by the Township or, upon its failure to do
so, out of the Trust Fund. The Township shall indemnify each trustee
against any and all claims, loss, damages, expense (including counsel
fees approved by the trustees), and liability arising from any loss
or damage or depreciation which may result in connection with the
execution of his or her duties or the exercise of his or her discretion
or from any other action or failure to act hereunder, unless the same
is judicially determined to be due to the gross negligence or willful
misconduct of such trustee. The Township, at all times and at its
own expense, shall purchase and keep in effect sufficient liability
insurance for each trustee to cover any and all claims, loss, damages
and expense arising from any action or failure to act in connection
with the execution of his or her duties as a trustee.
[Amended 5-22-2008 by Ord. No. 849]
The voting members of the Committee shall serve
one-year terms. There shall be no limit as to the number of terms
a voting member is permitted to serve.
[Amended 5-22-2008 by Ord. No. 849]
There shall be three ex officio, nonvoting members of the Committee
who may attend all meetings of the Committee and act in an advisory
capacity to the voting members of the Committee. The ex officio members
shall be the Township Manager, the Township Finance Director and a
member of the Board of Supervisors serving as liaison to the Committee
at the pleasure of the Board.
The duties and responsibilities of the Committee
shall be to:
A.
Keep all data, records and documents pertaining to
the administration of the plan in the office of the Township Manager.
[Amended 5-22-2008 by Ord. No. 849]
B.
Work with the plan administrators and investment counsellor(s)
selected by the Board of Supervisors.
C.
Meet at least quarterly with the plan administrators
and investment counsellor(s) and provide them direction, as outlined
by the Board of Supervisors.
D.
Report quarterly to the Board of Supervisors on the
status of the plan.
[Amended 5-22-2008 by Ord. No. 849]
E.
Make recommendations to the Board of Supervisors on
the administration of the plans and its contract provisions and benefits.
[Amended 5-22-2008 by Ord. No. 849]
F.
Make such studies and evaluations and perform such
other duties as outlined by the Board of Supervisors from time to
time.
G.
Select a Chairperson and Secretary from the five voting
members of the Committee on a yearly basis, with reorganization to
take place at the first quarterly meeting of each year.
[Amended 5-22-2008 by Ord. No. 849]
All expenses of the Committee reasonably incurred
shall be paid by the Board of Supervisors, provided that the Committee
shall incur no expense in excess of $25 without receiving authorization
therefor from the Board of Supervisors.
