[HISTORY: Adopted by the Borough Council of the Borough of Monaca 6-10-1991
by Ord. No. 793. Amendments noted where applicable.]
Monaca Borough, 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, as amended,[1] and does hereby agree to be bound by all the requirements and
provisions of said Act and the law, as the case may be, and to assume all
obligations, 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 of the Act.[2]
Membership in the Pennsylvania Municipal Retirement System shall be
mandatory for all permanent, municipal employees 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 June 10,
1991,[1] shall accrue based on all credited service granted and earned
in accordance with this section.
[1]
Editor's Note: The agreement is on file in the Borough offices.
Payment for any obligation established by the adoption of this chapter
and the agreement between the System and Monaca 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. § 895.101 et seq.
As part of this chapter, the Borough agrees that the System shall provide
the benefits set forth in the agreement between the Board and Monaca Borough,
dated June 10, 1991. The passage and
adoption of this chapter by Monaca Borough is an official acceptance of said
agreement and the financial obligations resulting from the administration
of said benefit package. Monaca Borough 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.
Monaca Borough intends this chapter to be the complete authorization
of the Borough plan, and therefore, specifically repeals the previous agreement
and Ordinance Number 631.
A duly certified copy of this chapter and the referenced agreement shall
be filed with the Pennsylvania Municipal Retirement System of the Commonwealth
of Pennsylvania. Membership for the municipal employees of Monaca Borough
in the Pennsylvania Municipal Retirement System shall be effective the first
day of January 1972, with the revised plan structure reflected in the agreement
dated June 10, 1991, effective the first day of January 1991.
