[HISTORY: Adopted by the Council of the Borough
of Baden as indicated in article histories. Amendments noted where
applicable.]
GENERAL REFERENCES
Police pensions — See Ch. 29.
[Adopted 12-15-1993 by Ord. No. 815]
[1]
Editor's Note: The Nonuniformed Employees'
Pension Plan is available in the Borough Secretary's office.
Effective as of the date of adoption of the
Nonuniformed Employees' Pension Plan, July 17, 1991, the Borough hereby
agrees to apply for inclusion of the Nonuniformed Employees' Pension
Plan in the Pennsylvania State Association of Boroughs (PSAB) Master
Plan and Trust. The Nonuniformed Employees' Pension Plan shall be
submitted pursuant to the special procedures of the PSAB Master Plan
and Trust to be included for participation in the said Master Plan
and Trust in the form as attached hereto. The Borough hereby agrees
that it shall accept the administrative and trust provisions contained
in Chapter I of the PSAB Master Plan and Trust if the Nonuniformed
Employees' Pension Plan is approved for admission into the PSAB Master
Plan and Trust in the form attached hereto. The proper officers of
the Borough are hereby authorized to take any and all steps necessary
to apply for admission into the PSAB Master Plan and Trust and to
take all actions necessary to facilitate and complete acceptance for
admission of the Nonuniformed Employees' Pension Plan into the PSAB
Master Plan and Trust.
The Nonuniformed Employees' Pension Plan is
amended as follows:
A.
Employer contributions; forfeitures.
[Added 12-15-1993 by Ord. No. 816; amended 12-15-2004 by Ord. No.
883]
(1)
Effective January 1, 2004, Section 3.01 is amended
in its entirety by deleting the said section and substituting a new
Section 3.01 as follows:
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3.01. Employer contributions.
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For each plan year, the employer shall make
a contribution or contributions to the pension fund in an amount equal
to $3.15 for each hour of service credited to each participant, to
a maximum of 2,080 hours of service in any single plan year. The contribution
shall be reduced by any amounts forfeited pursuant to Section 3.05.
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(2)
Effective January 1, 2005, Section 3.01 is amended
in its entirety by deleting the said section and substituting a new
Section 3.01 as follows:
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3.01. Employer contributions.
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For each plan year, the employer shall make
a contribution or contributions to the pension fund in an amount equal
to $1 for each hour of service credited to each participant, to a
maximum of 2,080 hours of service in any single plan year. The contribution
shall be reduced by any amounts forfeited pursuant to Section 3.05.
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(3)
Effective January 1, 1992, Section 3.05 is amended
in its entirety by deleting said section and substituting a new Section
3.05 as follows:
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3.05. Forfeitures.
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Any forfeitures arising from the operation of
Section 9.01 shall be reallocated among the accounts of eligible participants
as of the valuation date occurring at the end of the plan year during
which the forfeiture occurred.
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(4)
Effective January 1, 1992, Section 9.03 is amended
in its entirety by deleting said section and substituting a new Section
9.03 as follows:
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9.03. Application of forfeitures.
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Amounts forfeited by any participant shall be
allocated to eligible participants as of the valuation date for the
plan year during which the forfeiture occurs.
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(5)
Effective January 1, 2007, Section 3.01 is amended in its entirety
by deleting the said section and substituting a new Section 3.01 as
follows:
[Added 8-15-2007 by Ord.
No. 900]
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3.01. Employer contributions.
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For the 2007 plan year, the employer shall make a contribution
or contributions to the Pension Fund in an amount equal to $1.30 for
each hour of service credited to each participant, to a maximum of
2,080 hours of service in any single plan year. The contribution shall
be reduced by any amounts forfeited pursuant to Section 3.05.
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For the 2008 plan year, the employer shall make a contribution
or contributions to the Pension Fund in an amount equal to $1.60 for
each hour of service credited to each participant, to a maximum of
2,080 hours of service in any single plan year. The contribution shall
be reduced by any amounts forfeited pursuant to Section 3.05.
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For the 2009 plan year, the employer shall make a contribution
or contributions to the Pension Fund in an amount equal to $1.90 for
each hour of service credited to each participant, to a maximum of
2,080 hours of service in any single plan year. The contribution shall
be reduced by any amounts forfeited pursuant to Section 3.05.
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B.
Effective January 1, 1994, certain office personnel
who were not previously allowed to participate in the plan according
to their terms and conditions of employment shall become eligible
to participate in the plan according to the provisions of the plan
as if they attained an entry date under the plan of January 1, 1994.
Solely for determining credit for years of service for eligibility
and vesting under the plan, such employees shall determine their years
of service from the date on which their employment with the Borough
of Baden commenced.
[Added 12-15-1993 by Ord. No. 817]
