[HISTORY: Adopted by the Borough Council
of the Borough of Homestead as indicated in article histories. Amendments
noted where applicable.]
[Adopted 10-14-1974 as Ch. 22, Art. II, of the 1974 Code]
Pursuant to the provisions of the Act of May
29, 1956, P.L. 1804, as amended,[1] the Borough of Homestead hereby establishes an insured
Police Pension Fund to be funded through the purchase of a deposit
administration group annuity contract and a group life insurance contract
through J.J. Markotan & Company of Pittsburgh, Pennsylvania.
[1]
Editor's Note: See 53 P.S. § 761
et seq.
The fund is to be maintained by a charge against
each member of the police force, by annual appropriations made by
the Borough of Homestead, by payments made by the State Treasurer
to the Borough of Homestead Treasurer from the moneys received from
taxes paid on premiums by foreign casualty insurance companies for
purposes of pension for policemen, and by gifts, grants, devises or
bequests granted to such pension fund pursuant to the provisions of
such Act.
A.
Such Police Pension Fund shall be under the direction
of the Borough of Homestead Council and shall be applied under such
regulations as the members of Council of the Borough of Homestead
may, by ordinance or resolution, prescribe for the benefits of such
members of the Borough of Homestead police force as shall receive
honorable discharge therefrom by reason of age and service, or disability,
and for the families of such as may be killed in the service.
B.
If any disability payment are allowed to those who
are disabled, it shall be in conformity with the uniform scale and
any special agreement between the members of the Police Department
and the Borough Council and shall be integrated to make up the total
payments needed as a result of any liabilities of the Borough which
may exist under any previous act or acts of the legislature of this
commonwealth pertaining to such policemen's disabilities.
The Borough of Homestead is hereby authorized
to take by gift, grant, devise or bequest any money or property, real,
personal or mixed, in trust for the benefit of such fund. The care,
management, investment and disposal of such trust funds or property
shall be vested in the Borough of Homestead Council, the person, agent
and the company having the management of such Police Pension Fund,
and said trust funds shall be governed thereby subject to such directions
not inconsistent therewith as the donors of such funds and property
may prescribe.
[Amended 12-9-1977 by Ord. No. 921; 5-12-1978 by Ord. No.
925; 12-31-1990 by Ord. No. 1004]
A.
The Borough of Homestead prescribes a minimum period
of total service in the aggregate of 25 years in the Borough of Homestead,
and shall fix the age of the members of the force at 50 years, after
which they may retire from active duty, and such members as are retired
shall be subject to service, from time to time as a police reserve,
in cases of riot, tumult or preservation of the public peace, until
unfitted for such service when they may be finally discharged by reason
of age or disability. Should any member of the Police Department,
before reaching his normal eligible retirement date, based on age
and years of service requirements, but after having completed 12 years
of total service, for any reason ceases to be employed as a full-time
police officer by the Borough of Homestead, he shall be entitled to
vest his retirement benefits by filing with the Borough within 90
days of the date he ceases to be a full-time police officer, a written
notice of his intention to vest. Upon reaching the date which would
have been his normal eligible retirement date, based on age and years
of service requirements, had he continued to be employed as a full-time
police officer, he shall be paid a retirement benefit determined by
applying the percentage of his years of service bears to the years
of service which he would have rendered had he continued to work until
his normal eligible retirement date to the gross pension, using the
monthly average salary during the 36 months prior to his termination
of employment.
B.
Early retirement benefits. The Borough of Homestead
Police Pension Fund hereby provides for an early retirement benefit.
The early retirement benefit shall be provided to a full-time police
officer with 20 or more years of full-time service who terminates
employment prior to the completion of superannuation retirement age
and service requirements and who files a written application for an
early retirement benefit. The early retirement benefit shall become
effective as of the date the application is filed with the Borough
of Homestead or the date designated on the application, whichever
is later, and shall be the actuarial equivalent of a partial superannuation
retirement benefit calculated as follows:
[Added 4-14-2005 by Ord. No. 1168]
(1)
A partial superannuation retirement benefit shall
be determined by applying the percentage that the police officer's
years of service bear to the years of service that the police officer
would have rendered had he or she continued to he employed until his
or her superannuation retirement date to the gross pension amount
calculated using the monthly average salary during the appropriate
period prior to his or her termination of employment.
(2)
The actuarial equivalent of the partial superannuation
retirement benefit shall be determined by actuarially reducing the
partial superannuation retirement benefit to reflect that it will
commence on the effective date of the early retirement rather than
on the date on which the police officer would have completed superannuation
age and service requirements. The actuarial reduction shall be calculated
using the actuarial assumptions reporting in the last actuarial valuation
report filed with the Public Employee Retirement Commission under
the Act of December 18, 1984 (P.L. 1005, No. 205), known as the "Municipal
Pension Plan Funding Standard and Recovery Act."
Any member of the police force employed by the
Borough of Homestead who has been a regular appointed employee of
the Borough of Homestead for a period of at least six months and who
thereafter shall enter into the military service of the United States
shall have credited to his employment record, for pension or retirement
benefits, all of the time spent by him in such military service if
such person returns or has heretofore returned to his employment within
six months after his separation from the service.
[Amended 12-9-1977 by Ord. No. 921; 5-12-1978 by Ord. No.
925]
A.
"Monthly compensation," whenever referred to within
the Borough of Homestead Police Pension Fund Ordinances and/or amendments,
shall mean the total amount of money received for services performed
for the Borough of Homestead, except moneys received or earned as
unused sick leave.
B.
Payments made to such Police Pension Fund shall not
be a charge on any fund in the treasury of the Borough of Homestead
or under its control, save the Police Pension Fund herein provided
for. The basis for determining any pension payable under this article
following the retirement of any members of the force meeting the service
and age qualifications of this article shall be as follows:
(1)
For police officers retiring on or after January 1, 2016, monthly
pension or retirement benefits shall be equal to 50% of the monthly
average compensation of such officer during the last consecutive 36
months of employment plus the lesser of 50% of the monthly average
overtime pay, detail pay, holiday pay, court pay of such police officer
during the last consecutive 36 months of employment or 60% of the
monthly average overtime pay, detail pay, holiday pay, court pay of
such member during the last consecutive 60 months of employment; and
this benefit shall be payable to the police officer for as long as
he or she lives; and there shall be a minimum of 60 monthly payments
guaranteed. For police officers retiring prior to January 1, 2016,
monthly pension or retirement benefits for full-time police officers
who retire shall be 50% of the monthly average salary of such police
officer during the last consecutive 36 months of employment, and this
benefit shall be payable to the police officer for as long as he or
she lives, and there shall be a minimum of 60 monthly payments guaranteed.
[Amended 7-14-2016 by Ord. No. 2016-07]
(2)
Such pension or retirement benefits for any month
shall be computed as the sum of:
(a)
Any pension benefits from pension plans heretofore
established by a private organization or association for the members
of the police force.
(b)
Benefits from the Police Pension Fund established pursuant to this article to the extent necessary to bring the total benefits in any one month up to, but no more than, the average monthly pension or retirement benefit amount payable pursuant to the applicable calculation formula set forth in § 50-7B(1) above.
[Amended 7-14-2016 by Ord. No. 2016-07]
[1]
Editor's Note: Former § 50-8, Early retirement, added
9-22-1998 by Ord. No. 1093, was repealed 10-14-2010 by Ord. No. 1210.
[Amended 12-9-1977 by Ord. No. 921; 5-12-1978 by Ord. No.
925]
The actuary to be employed by the Borough of Homestead with respect to the Police Pension Fund hereby established shall be provided through J. J. Markotan & Company to determine the present value of the liability on account of pensions payable under § 50-25 of this article to original members for service prior to the date of the establishment of this fund, and shall offset the value of any assets transferred to this fund from the previous fund established by the Borough of Homestead, to determine the unfunded liability. The unfunded liability shall be paid entirely by the Borough of Homestead, provided that it may be funded over a period not to exceed 25 years. The actuary shall also determine the amount which shall be contributed annually into the fund for the service of members subsequent to the establishment of the fund, to be known as "future service cost."
[Amended 12-9-1977 by Ord. No. 921; 5-12-1978 by Ord. No.
925]
Members shall pay into the fund, monthly, an
amount equal to not less than 5% nor more than 8% of their monthly
compensation until they retire from active service. The remainder
of the needed annual contribution, as determined by the actuary, shall
be the obligation of the Borough of Homestead and shall be paid by
it to the pension fund by annual appropriations.
[Added 12-10-1998 by Ord. No. 1096;
amended 10-9-2003 by Ord. No. 1148; 10-14-2010 by Ord. No. 1210]
A.
For police officers retiring on or after January 1, 2016, monthly
pension or retirement benefits for full-time police officers who retire
shall be 50% of the monthly average hourly wages of such police officer
during the last consecutive 36 months of employment plus the lesser
of 50% of the monthly average overtime pay, detail pay, holiday pay,
court pay of such police officer during the last consecutive 36 months
of employment or 60% of the monthly average overtime pay, detail pay,
holiday pay, court pay of such police officer during the last consecutive
60 months of employment, and this benefit shall be payable to the
police officer for as long as he or she lives. For police officers
retiring before January 1, 2016, monthly pension or retirement benefits
for full-time police officers who retire shall be 50% of the monthly
average salary of such police officer during the last consecutive
36 months of employment and shall be payable to the police officer
for as long as he or she lives. Full-time police officers retiring
prior to January 1, 2016, shall include police officers who retired
during August of 1998 after 30 or more years of service as a police
officer for the Borough of Homestead. Such pension or retirement benefits
for any month shall be computed as the sum of:
[Amended 7-14-2016 by Ord. No. 2016-07]
(1)
Any pension benefit from pension plans heretofore established by
a private organization or association for the police officers, but
only to the extent that the Commonwealth of Pennsylvania or any of
its municipalities have contributed to such pension plan monies raised
by taxation; and
(2)
If and only if the full-time police officers had been auxiliary police
officers but took and passed a civil service examination on December
8, 1998, and they are legally qualified by law to receive full federal
social security old age retirement benefits, 50% of that portion of
said social security old age retirement benefits attributable to the
wages which the full-time police officers received from the Borough
as police officers until the date the full-time police officers retired
from the Borough as full-time police officers; and
(3)
Benefits from the Police Pension Fund established pursuant to this article to the extent necessary to bring the total benefits in any one month up to, but not more than, the average monthly pension or retirement benefit amount payable pursuant to the calculation formula set forth in § 50-11A above.
B.
For a full-time police officer who retired on pension or died on,
before or after April 17, 2002, survivor pension benefits upon the
death of the full-time police officer shall be payable as follows:
(1)
Where a spouse survives the full-time police officer, said spouse
shall receive, commencing April 17, 2002, if the full-time police
officer died anytime on or before April 17, 2002; or alternatively
commencing on the full-time police officer's date of death if
the death occurs after April 17, 2002, a pension for the remainder
of the surviving spouse's life calculated at 50% of the pension
the full-time police officer was receiving or would have been receiving
had the full time police officer been retired at the time of his or
her death. The surviving spouse shall not be eligible to receive this
survivor pension benefit payment if the surviving spouse remarries
on or before April 17, 2002.
(2)
If no spouse survives the full-time police officer or if the spouse
survives the full-time police officer and subsequently dies, or if
the spouse remarries on or before April 17, 2002, thereby rendering
said spouse ineligible to receive the survivor pension benefit, then
the child or children of the full-time police officer, until reaching
the age of 18 years or, if attending college, until attaining the
age of 23 years, shall be entitled to receive the survivor pension
benefit that would otherwise have been paid to the spouse if the spouse
had not died or remarried on or before April 17, 2002.
C.
The surviving spouse of a member of the police force who dies before
his or her pension has vested or, if no spouse survives or if he or
she survives and subsequently dies, the child or children under the
age of 18 years, or, if attending college, under the age of 23 years,
of the member of the police force shall receive repayment of all money
which the member invested in the pension fund plus interest or other
increases in value of the member's investment in the pension
fund unless the member designated another beneficiary for this purpose.
D.
For purposes of this section, the phrase "attending college" shall
mean the eligible child or children are registered at an accredited
institution of higher learning and are carrying a minimum course load
of seven credit hours per semester.
E.
Full-time police officers who, after September 1998, suffer any injury
in the performance of their duties which renders them permanently
disabled from performing the duties of a police officer for the Borough
of Homestead shall receive a monthly disability pension or retirement
benefit equal to 50% of the police officer's monthly salary at
the time the disability is incurred, provided that any police officer
who receives benefits for the same injuries under the Social Security
Act (42 U.S.C. § 301 et seq.) shall have his or her disability
benefits reduced by the amount of such benefits.
The existing assets and liabilities of the present
contracts and/or trust funds of the Borough of Homestead Police Pension
Fund shall be transferred and integrated into the fund established
by this article. After such transfer, the Borough of Homestead Police
Pension Fund established by this article shall assume the liability
of continuing the payment of pensions to members of the police force
retired prior to such transfer in accordance with the laws and regulations
under which such members, if any, were retired.
No person participating in the Police Pension
Fund established pursuant to the provisions of this article who becomes
entitled to receive a benefit therefrom shall be deprived of his right
to an equal proportionate share therein upon the basis upon which
he first became entitled thereto.
[Amended 12-9-1977 by Ord. No. 921]
A.
Any member of a police force of the Borough of Homestead
who, for any reason whatsoever, shall be ineligible to receive a pension
after having contributed any charges to the Police Pension Fund established
pursuant to the provisions of this article shall be entitled to a
refund of all such moneys paid by him, plus 3% interest on all such
member contributions deposited into the pension fund. If such discontinuance
is due to death prior to retirement, the member's beneficiary shall
also be entitled to receive a death benefit as provided for in the
master group life insurance contract held by the Borough of Homestead
and as specified in the member's individual group life insurance certificate.
B.
At the time of retirement, each member will be entitled to receive a paid-up life insurance contract in the amount of $5,000. For the purposes of the foregoing provision, the term "time of retirement" shall mean retirement upon satisfaction of the criteria set forth in § 50-5 regarding the minimum period of total service and age.
[Amended 7-10-1986 by Ord. No. 976]
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 member or his designated
beneficiary and shall not be subject to assignment or transfer.
The Borough of Homestead Council hereby authorizes
and directs the Borough Secretary to make regular annual payments
on the aforementioned pension annuity contracts when due.
The procedure hereinbefore set forth of including
each member in the contract for pension, death and disability shall
be followed from time to time and from year to year with the necessary
and desired factual changes without the necessity to pass any new
ordinance or resolution authorizing such inclusion of any new members
or providing for additional benefits as may be required under the
existing or newly enacted laws of this commonwealth.
The Police Pension Fund provided for herein
is established immediately, but no payments shall be made from the
fund established by this article until all of the assets from the
previously existing fund are transferred to the fund hereby established.
The proper officers of the Borough of Homestead
are hereby authorized and empowered to execute and deliver on behalf
of the Borough such documents as the Solicitor of the Borough shall
determine to be necessary and proper to effectuate and implement the
Police Pension Fund hereby established under the provisions of the
Act of May 29, 1956, P.L. 1804, and any amendments thereto.[1]
[1]
Editor's Note: See 53 P.S. § 761
et seq.
[Adopted 11-27-1976 by Ord. No. 917]
The Borough of Homestead hereby establishes
an insured Service Employees' Pension Fund for the full-time employees,
other than members of the Police Department, Fire Department and School
Guards, to be funded through the purchase of a deposit administration
group annuity contract and a group life insurance contract through
J. J. Markotan & Company of Pittsburgh, Pennsylvania.
The fund is to be maintained by a charge against
each member of the Service Employees' Pension Fund, by annual appropriations
made by the Borough of Homestead and by gifts, grants, devises or
bequests granted especially to the Service Employees' Pension Fund.
The Service Employees' Pension Fund shall be
under the direction of the Borough of Homestead Council and shall
be applied under such regulations as the members of Council of the
Borough of Homestead may, by ordinance or resolution, prescribe for
the benefit of such members of the Borough of Homestead Service Employees'
Department as shall receive honorable discharge therefrom by reason
of age and service and for the families of such as may be killed in
the service.
The Borough of Homestead is hereby authorized
to take by gift, grant, devise or bequest any money or property, real,
personal or mixed, in trust for the benefit of such fund, and the
care, management, investment and disposal of such trust funds or property
shall be vested in the Borough of Homestead Council, the person, agent
and the company having the management of such Service Employees' Pension
Fund, and the said trust funds shall be governed thereby subject to
such directions not inconsistent therewith as the donor of such funds
and property may prescribe.
A.
The Borough of Homestead hereby prescribes for those
employees who have participated in the Borough of Homestead Service
Employees' Pension Plan on the effective date of this article, and
who have contributed 10% of their monthly compensation into the plan,
a normal retirement date as follows:
[Amended 5-12-1978 by Ord. No. 924]
(1)
A minimum period of total service not less than an
aggregate of 25 years as a Borough of Homestead employee and who have
attained the age of 50 years, after which they may retire and receive
the normal retirement benefit.
(2)
The normal monthly retirement benefit shall be 40%
of the monthly average compensation of such member during the last
36 months of employment and shall be payable to the member for as
long as he lives. There shall be a minimum of 60 monthly payments
guaranteed on that portion of such member's pension as may be payable
from this pension fund. Should a member postpone his retirement after
completing 25 years of service or reaching the age of 50 years, whichever
is later, he shall then be eligible to receive an additional 3% of
his monthly compensation for each year of service completed from his
initial eligible retirement date, until his monthly pension reaches
50% of his last 36 months' average compensation payable to age 62,
at which time such pension shall be integrated with payments such
member shall be entitled to receive from social security to make up
the total required pension. Should there be a duplication of payments
exceeding the amount each member is eligible to receive under this
plan, such amount overpaid should be refunded immediately to the pension
fund or further payments may be stopped by the Borough.
(3)
Any member who elected to be eligible for benefits as described under Subsection A of this section shall pay into the fund, monthly, 10% of his monthly compensation on which social security taxes are payable and 5% on any portion of his monthly compensation in excess on which social security taxes are payable.
B.
The Borough of Homestead hereby prescribes for all employees, except for those members mentioned in Subsection A of this section, the normal retirement provisions as follows:
[Amended 5-12-1978 by Ord. No. 924; 9-11-1980 by Ord. No. 924; 10-8-1987 by Ord. No. 985]
(1)
Age and service.
(a)
Before January 1, 2002 a member must have completed
an aggregate of 20 years of service and have reached the age of 62
in order to receive the member's normal retirement benefit.
(b)
On and after January 1, 2002, a member must
have completed an aggregate of 20 years of service and have reached
the age of 65 in order to receive the member's normal pension benefit.
(2)
Normal pension benefit.
(a)
The normal monthly pension benefit for members
who retire before January 1, 2001, shall be equal to 35% of the member's
average compensation during the last 36 months of employment.
(b)
The normal monthly pension benefit for members
who retire between January 1, 2001, and December 31, 2001, shall be
equal to 40% of the member's average wage during the last 36 months
of employment.
(c)
The normal monthly pension benefit for members
who retire on or after January 1, 2002, shall be equal to 45% of the
member's average wage during the last 36 months of employment.
(3)
The normal monthly pension benefit shall be payable
for as long as the member lives, and there shall be a minimum of 60
monthly payments guaranteed.
C.
After the effective date of this article, any person
who is employed by the Borough of Homestead as a service employee
and who has not attained the age of 56 years shall be only eligible
for those pension benefits as described in § 50-40B of this
article immediately upon his employment.
D.
After the effective date of this article, any person
who has attained the age of 56 and then is employed by the Borough
of Homestead as a service employee shall not be eligible to participate
in the Borough of Homestead Service Employees' Pension Fund.
A.
Any member participating in this pension plan under § 50-24A may retire on his normal retirement date and shall retire after completing 25 years of service and reaching the age of 65 years.
B.
Any member participating in the pension plan under § 50-24B and C shall be entitled to early retirement after completing 10 years of service and reaching the age of 60 years and shall retire after completing 20 years of service and reaching the age of 65 years; however, any member who is employed after the effective date of this article shall retire after attaining the age of 65 years. The amount of monthly pension at early retirement shall be an actuarial equivalent of that amount the member would have been entitled to receive had he reached the normal retirement age and completed the normal years of service. For purposes of this plan, "actuarial equivalent value" shall mean those benefits which have equal present value computed on the basis of regular interest and mortality tables that may be used by the insuring company on the date the benefit becomes effective.
A.
Any member of the Service Employees' Department employed
by the Borough of Homestead who has been a regular appointed employee
of the Borough of Homestead for a period of at least six months and
who thereafter shall enter into the military service of the United
States shall have credited to his employment record for pension or
retirement benefits all of the time spent by him in such military
service, if such person returns or has heretofore returned to his
employment within six months after his separation from the service.
B.
Any member who has been employed by the Borough of
Homestead as a service employee prior to the effective date of this
article and who has served in the military service of the United States
prior to his initial employment with the Borough of Homestead and
who has received an honorable discharge therefrom shall have credited
to his employment record such additional military service time as
such member had agreed to pay for in form of additional contributions.
These additional contributions are those that remain on record at
the time such option was made available to each person as agreed to
and paid for in July of 1974.
[Amended 5-12-1978 by Ord. No. 924]
"Monthly compensation," whenever referred to
within the Borough of Homestead Service Employees' Pension Fund Ordinances
and/or amendments, shall mean the total amount of money received for
services performed for the Borough of Homestead, except moneys received
or earned as unused sick leave.
[Amended 5-12-1978 by Ord. No. 924; 6-26-1986 by Ord. No.
975; 8-13-1992 by Ord. No. 1026]
A.
Should a member's employment be terminated for reasons
other than death or retirement, the member shall be entitled to receive
a lump sum amount equal to his contributions plus 3% interest.
B.
In addition to receiving the employee's contributions,
plus interest, upon termination, each participant shall be entitled
to a deferred vested pension benefit payable at early or normal retirement,
but at an actuarily reduced rate as a result of the member having
received the employee's contributions plus interest. The vested percentage
of his account will be based on the number of fully completed years
of plan participation according to the following schedule:
|
Years of Service
|
Vested Percentage
| |
|---|---|---|
|
0 to 10
|
0
| |
|
10 to 20
|
25
| |
|
15 to 20
|
50
| |
|
20 to 25
|
75
| |
|
25 or more
|
100
|
C.
The monthly benefit payable from the vested account
will be determined in the same manner as the early or normal retirement
benefit.
D.
Should a member die prior to receiving any pension
benefits from this plan, his beneficiary, who the member shall be
entitled to name, shall be entitled to receive a lump sum amount equal
to the total contribution, plus 3% interest at the time of such death.
In addition, the member's beneficiary shall be entitled to the death
benefit in accordance with the schedule shown in the Group Life Insurance
Contract[1] held by the Borough of Homestead and as shown in the member's
individual group life insurance certificate.
[1]
Editor's Note: The Group Life Insurance Contract
is on file in the Borough offices.
E.
Any and all credits allowable under this section shall
be used to purchase paid-up annuity to be payable on members early
or normal retirement date.
F.
At the time of retirement, each member will be entitled
to receive a paid-up life insurance contract in the amount of $5,000.
A.
The actuary to be employed by the Borough of Homestead
with respect to the Service Employees' Pension Fund hereby established
shall be provided through J. J. Markotan & Company to determine
the present value of the liability on account of pensions payable
under the provisions of this article to original members for service
prior to the date of the establishment of this fund, and shall offset
the value of any assets to this fund from the previous fund established
by the Borough of Homestead, to determine the unfunded liability.
The unfunded liability shall be paid entirely by the Borough of Homestead,
provided that it may be funded over a period not to exceed 25 years.
The actuary shall also determine the amount which shall be contributed
annually into the fund for the service of members subsequent to the
establishment of the fund, to be known as "future service cost."
B.
The existing assets and liabilities of the present
contract and/or trust funds of the Borough of Homestead Service Employees'
Pension Fund shall be transferred and integrated into the fund established
by this article. After such transfer the Borough of Homestead Service
Employees' Pension Fund established by this article shall assume the
liability of continuing the payment of pensions to members of the
Service Employees' Department retired prior to such transfer in accordance
with the laws and regulations under which such members, if any, were
retired.
No person participating in a Service Employees'
Pension Fund established pursuant to the provisions of this article,
who becomes entitled to receive a benefit therefrom, shall be deprived
of his right to an equal proportionate share therein upon the basis
upon which he first became entitled thereto.
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 member or his designated
beneficiary and shall not be subject to assignment or transfer.
The Borough of Homestead Council hereby authorizes
and directs the Borough Secretary to make regular annual payments
on the before-mentioned pension annuity contracts and group life insurance
contracts when due.
The procedure hereinbefore set forth of including
each member in the contract for pension and death benefit shall be
followed from time to time and from year to year with the necessary
and factual changes without the necessity to pass any new ordinance
or resolution authorizing such inclusion of any new members or providing
for additional benefits as may be required under this article or any
amendments thereto.
The Service Employees' Pension Fund provided
for herein is established immediately.
The proper officers of the Borough of Homestead
are hereby authorized and empowered to execute and deliver on behalf
of the Borough such documents as the Solicitor of the Borough shall
determine to be necessary and proper to effectuate and implement the
Service Employees' Pension Fund hereby established.
Any ordinance or part of any ordinance and any
resolution or part of any resolution, and especially Ordinance No.
885, dated February 14, 1972; amending Ordinance No. 899, dated November
23, 1973; and amending Ordinance No. 903, dated May 31, 1974, are
hereby repealed.[1] Furthermore, any agreements or part of any agreements
with any company, firm or any other individual pertaining to the Service
Employees' Pension Fund of the Borough of Homestead are hereby terminated.
[1]
Editor's Note: These ordinances were included
in former Article III, Service Employees' Pension Fund.
