[Adopted 11-6-2000 by Ord. No. HR-292[1]]
[1]
Editor's Note: This ordinance also repealed former Art. II, Pennsylvania Municipal Retirement System, adopted 6-17-1996 by Ord. No. HR-250.
Tredyffrin Township, being a member municipality of the Pennsylvania Municipal Retirement System, hereby elects to change its member benefits in that system as authorized by the Pennsylvania Municipal Retirement Law, Act 15 of 1974, as amended, and does hereby agree to be bound by all the requirements and provisions of said law, and to assume all obligations, financial and otherwise, placed upon member municipalities. All references hereafter shall be based on benefits negotiated between the Board and municipality under the provisions of Article IV of the Pennsylvania Municipal Retirement Law.[1]
[1]
Editor's Note: See 53 P.S. § 881.101 et seq.
Membership in the Pennsylvania Municipal Retirement System shall be mandatory for all permanent, municipal employees of the Township. 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.
[Amended 10-19-2020 by Ord. No. HR-438]
Credit for prior service for original members is granted for each year or partial year thereof that the member was employed by the Township from original date of hire or the expiration of the member's probationary period if one so existed. Benefits provided to members in the agreement dated September 1, 2020, shall accrue based on all credited service granted and earned in accordance with this section. The Pennsylvania Municipal Retirement System Defined Benefit Plan Adoption Agreement 001, effective September 1, 2020, is attached hereto as Appendix A[1] and is incorporated herein by reference.
[1]
Editor's Note: Said agreement is on file in the Township offices.
Payment for any obligation established by the adoption of this article and the agreement between the system and Tredyffrin Township shall be made by the Township 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, respectively.
[Amended 10-19-2020 by Ord. No. HR-438]
As part of this article, the Township agrees that the system shall provide the benefits set forth in the agreement between the Board and Tredyffrin Township dated September 1, 2020. The passage and adoption of this article by Tredyffrin Township is an official acceptance of said agreement and the financial obligations resulting from the administration of said benefit package. Tredyffrin Township hereby assumes all liability for any unfundedness created or which may be created due to the acceptance of the benefit structure outlined in the above-referenced agreement.
[Amended 10-19-2020 by Ord. No. HR-438]
Tredyffrin Township intends this article to be the complete authorization of the Township plan and therefore specifically repeals the previous agreements and Ordinance Nos. HR-292 and HR-250. The Pennsylvania Municipal Retirement System Base Plan Document, BPD201707-F, is attached hereto as Appendix B[1] and is incorporated herein by reference.
[1]
Editor's Note: Said document is on file in the Township offices.
[Amended 10-19-2020 by Ord. No. HR-438]
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 municipal employees of Tredyffrin Township in the Pennsylvania Municipal Retirement System shall be effective the first day of January 1962, with the revised plan structure reflected in the agreement dated September 1, 2020, effective the first day of September 2020.