[HISTORY: Adopted by the Borough Council
of the Borough of Marietta as indicated in article histories. Amendments
noted where applicable.]
[Adopted 4-9-1996 by Ord. No. 96-3]
This article repeals all those portions of all
prior existing Borough ordinances establishing the type of plan, format
of such plan and administration of such plan relative to retirement
plans for nonuniformed employees. It is not the intent of this article
to totally repeal the establishment of such a plan but, instead, to
repeal only those portions of existing ordinances which pertain to
the form and administration of the plan so as to establish a new form
and administration.
[Amended 12-14-2010]
This article establishes a retirement plan for
the nonuniformed employees of Marietta Borough through the adoption
of the Borough of Marietta Nonuniformed Employees Money Purchase Plan
restated January 1, 2010, and executed April 9, 2010, comprised of
36 pages, all of which is incorporated herein and made a part of this
article.
Marietta Borough shall contribute to the plan
each plan year 18% of the compensation earned by eligible employees
during the previous calendar year. This contribution is subject to
state aid reimbursement under the Municipal Pension Plan Funding Standard
and Recovery Act of December 18, 1984, P.L. 1005, No. 205.[1]
[1]
Editor's Note: See 53 P.S. § 895.101
et seq.
