[Adopted 2-3-1997 by Ord.
No. 2-3-97 (Ch. 15, Art. II, of the 1992 Code)]
South Waverly 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,[1] 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.[2]
A.
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.[1]
B.
With respect to membership in the Pennsylvania Municipal Retirement
System, henceforth, the police officers eligible as of June 30, 2010,
shall remain eligible for the retirement plan, and, thereafter, there
shall be no additional police officers performing police work in South
Waverly Borough that shall be eligible for the Police Retirement Plan.
[Added 6-2-2010 by Ord.
No. 06-02-10-02[2]]
[2]
Editor's Note: This ordinance also provided for an effective
time and date of 12:00 midnight on 6-30-2010, further providing that
the South Waverly Borough Police Department be disbanded at that time
contemporaneously with the commencement of police services in South
Waverly Borough by Sayre Borough Police Department pursuant to an
agreement of 3-1-2010.
Credit for prior service for original employees 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 February 3, 1997, 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 South Waverly 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.[1]
[1]
Editor's Note: See 53 P.S. § 881.101 et seq. and
53 P.S. § 895.101 et seq.
As part of this article, the Borough agrees that the system
shall provide the benefits set forth in the agreement between the
Board and South Waverly Borough, dated February 3, 1997. The passage
and adoption of this article by South Waverly Borough is an official
acceptance of said agreement and the financial obligations resulting
from the administration of said benefit package. South Waverly Borough
hereby assumes all liability for any unfundedness created due to the
acceptance of the benefit structure outlined in the above-referenced
agreement.
South Waverly 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. 2-14-93.
A duly certified copy of this article and the referenced agreement
shall be filed with the Pennsylvania Municipal Retirement System of
the Commonwealth of Pennsylvania. Membership for the police pension
plan of South Waverly Borough in the Pennsylvania Municipal Retirement
System shall be effective the first day of January 1987, with the
revised plan structure reflected in the agreement dated February 3,
1997, effective the first day of May 1996.
