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Township of North Coventry, PA
Chester County
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[HISTORY: Adopted by the Board of Supervisors of the Township of North Coventry as indicated in article histories. Amendments noted where applicable.]
[Adopted 5-12-2014 by Ord. No. 102[1]]
[1]
Editor's Note: This ordinance also superseded former Article II, Administration of Nonuniformed Employees Pension Fund, adopted 7-27-1992 by Ord. No. 97, and Article III, Nonuniformed Employee Pension Benefits, adopted 12-11-1995 by Ord. No. 102.
North Coventry Township (the Township), being a member municipality of the Pennsylvania Municipal Retirement System (the System), hereby elects to amend its Municipal Pension Plan administered by the System in accordance with Article IV of the Pennsylvania Municipal Retirement Law, 53 P.S. § 881.101 et seq. (Retirement Law), and does hereby agree to be bound by all the requirements and provisions of the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act, 53 P.S. § 895.101 et seq., and to assume all obligations, financial and otherwise, placed upon member municipalities.
As part of this article, the Township agrees that the System shall administer and provide the benefits set forth in the amended Municipal Pension Plan Contract entered into between the Pennsylvania Municipal Retirement Board and the Township, effective January 1, 2014 (the contract).
The passage and adoption of this article by the Township is an official acceptance of the contract and the financial obligations resulting from the administration of the contract.
Payment for any obligation established by the adoption of this article and the contract shall be made by the Township in accordance with the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act. The Township hereby assumes all liability for any unfundedness created due to the benefit structure set forth in the contract.
The Township intends this article to be the complete authorization of the contract and it shall become effective and specifically repeal Ordinance Numbers 97 and 102, insofar as they are inconsistent with this article or contract either immediately or on January 1, 2014, which is the effective date of the contract, whichever is later.
A duly certified copy of this article and an executed contract shall be filed with the System.
[Adopted 8-25-2014 by Ord. No. 134[1]]
[1]
Editor's Note: This ordinance also superseded former Article I, Administration of Police Pension Fund, adopted 7-27-1992 by Ord. No. 96, and Article IV, Police Pension Benefits, adopted 7-9-2007 by Ord. No. 134.
North Coventry Township (the Township), being a member municipality of the Pennsylvania Municipal Retirement System (the System), hereby elects to amend its Police Pension Plan administered by the System in accordance with Article IV of the Pennsylvania Municipal Retirement Law, 53 P.S. § 881.101 et seq. (Retirement Law), and does hereby agree to be bound by all the requirements and provisions of the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act, 53 P.S. § 895.101 et seq., and to assume all obligations, financial and otherwise, placed upon member municipalities.
As part of this article, the Township agrees that the System shall administer and provide the benefits set forth in the amended Police Pension Plan Contract entered into between the Pennsylvania Municipal Retirement Board and the Township effective January 1, 2014 (the contract).
The passage and adoption of this article by the Township is an official acceptance of the contract and the financial obligations resulting from the administration of the contract.
Payment for any obligation established by the adoption of this article and the contract shall be made by the Township in accordance with the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act. The Township hereby assumes all liability for any unfundedness created due to the benefit structure set forth in the contract.
The Township intends this article to be the complete authorization of the contract and it shall become effective and specifically repeal Ordinance Numbers 96 and 134, insofar as they are inconsistent with this article and contract either immediately or on January 1, 2014, which is the effective date of the contract, whichever is later.
A duly certified copy of this article and an executed contract shall be filed with the System.