[Adopted 8-16-1999 by Ord. No. 901]
Morrisville Borough, being a member municipality of the Pennsylvania
Municipal Retirement System, hereby elects to change its police pension benefits
in that System as authorized by the Pennsylvania Municipal Retirement Law,
as amended, and does hereby agree to be bound by all the requirements and
provisions of said article and the law, as the case may be, and to assume
all obligation, financial and otherwise, placed upon member municipalities
by said amendment, as the case may be. All references hereafter shall be based
on benefits negotiated between the Board and the municipality under the provisions
of Article IV.
Membership in the Pennsylvania Municipal Retirement System shall be
mandatory for all full-time police officers 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 Borough from original
date of hire. Benefits provided to members in the agreement dated August 16,
1999, shall accrue based on all credited service granted and earned in accordance
with this section.
Payment for any obligation established by the adoption of this article
and the agreement between the System and Morrisville Borough shall be made
by the Borough in accordance with the Pennsylvania Municipal Retirement Law
and Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery
Act.
As part of this article, the Borough agrees that the System shall provide
the benefits set forth in the agreement between the Board and Morrisville
Borough, dated August 16, 1999. The passage and adoption of this article by
Morrisville Borough is an official acceptance of said agreement and the financial
obligations resulting from the administration of said benefit package. Morrisville
Borough hereby assumes all liability for any unfundedness created due to the
acceptance of the benefit structure outlined in the above-referenced agreement.
Morrisville Borough intends this article to be the complete authorization
of the Borough's Police Pension Plan and therefore specifically repeals the
previous agreement and Ordinance No. 858.
A duly certified copy of this article and the referenced agreement[1] shall be filed with the Pennsylvania Municipal Retirement System
of the Commonwealth of Pennsylvania. Membership for the Police Pension Plan
of Morrisville Borough in the Pennsylvania Municipal Retirement System shall
be effective the first day of October, 1983, with the revised plan structure
reflected in the agreement dated August 16, 1999, effective the second day
of January, 1999.
[1]
Editor's Note: Said agreement is on file in the Borough offices.
