Township of Shaler, PA Article III Participation

§ 47-6 Eligibility requirements.

Each employee who is employed as a regular, full-time employee of the employer shall participate herein as of the first day of employment, provided that all prerequisites to participation under this plan shall have been fulfilled, including but not limited to completion of all forms required by the plan administrator.

§ 47-7 Notification of appointment of new employee.

The Board shall furnish the plan administrator with written notification of the appointment of any new full-time permanent employee who is eligible for participation hereunder within 60 days of the date of such appointment.

§ 47-8 Designation of beneficiary.

Any new, full-time employee who becomes a participant hereunder shall provide a written notice which designates the beneficiary or beneficiaries to the Board at the time participation commences. (The beneficiary shall receive a refund of accumulated contributions if such refund is payable pursuant to § 47-33.) The participant's election of any such beneficiary or beneficiaries may be rescinded or changed, without the consent of the beneficiary or beneficiaries, at any time, provided that the participant provides the written notice of the changed designation to the plan administrator in the manner prescribed by the plan administrator. Any designation of a beneficiary made in any manner other than one acceptable to the plan administrator shall be null and void and have no effect under the terms of this plan.

§ 47-9 Change in status.

A. If an employee of the employer shall be transferred into an employment position which will make such person an employee eligible for participation hereunder, then such employee shall participate herein as of the date of such transfer. Aggregate service and credited service hereunder shall include those periods for which such service was accumulated as a participant under the Pension Plan of the Township of Shaler (Union),[1] provided that such service is no longer recognized under the Pension Plan of the Township of Shaler (Union).

[1] Editor's Note: See Part 3, Union Pension Plan, of this chapter.

B. If a participant in this plan shall be transferred into an employment position which will make such person an employee eligible for participation under the Pension Plan of the Township of Shaler (Union), then such person shall participate thereunder as of the date of such transfer and shall no longer be a participant in this plan. Aggregate service and credited service hereunder shall be determined as of the date of transfer and shall thereafter be recognized under the Pension Plan of the Township of Shaler (Union). The actuary shall determine the accrued benefit of such participant and shall determine a reasonable amount of assets which will be transferred to the Pension Plan of the Township of Shaler (Union) to meet such accrued benefit liability so transferred.

C. This § 47-9 is intended to provide for an uninterrupted accrual of benefits for a participant under either the Pension Plan of the Township of Shaler (Union) or this plan when such a change in employment status shall occur and is specifically intended to prevent or preclude a duplicate accrual of benefits for the same period of employment with the employer.