The following words and phrases as used in this
plan shall have the meanings set forth in this article, unless a different
meaning is otherwise clearly required by the context:
As of any given date, the participant's benefit determined under § 57-14, calculated on the basis of the participant's average compensation determined as of such date and multiplied by a fraction, the numerator of which shall be the participant's completed years of credited service as of such determination date and the denominator of which shall be 20 years of credited service. Notwithstanding anything contained herein to the contrary, in no event shall the fraction exceed 1.0. In no event, however, shall the accrued benefit exceed the maximum limitation, determined as of the date of computation, provided under § 57-18. All accrued benefits are subject to all applicable limitations, reductions, offsets and actuarial adjustments provided by the plan prior to the actual payment thereof and no accrued benefits shall be paid unless the participant satisfies all requirements hereunder for entitlement to receive such benefit.
The total amount contributed by any participant to this plan
or its predecessor by way of payroll deduction or otherwise. There
shall be no interest credited to this amount.
The Municipal Pension Plan Funding Standard and Recovery
Act (enacted as Act 205 of 1984), as amended, 53 P.S. § 895.101
et seq.
Two forms of payment of equal actuarial present value on
a specified date. The factors to be used in determining actuarial
equivalents shall be 7% interest and UP-1984 Mortality Table rates.
The person, partnership, association or corporation which
at any given time is serving as actuary, provided that such actuary
must be an approved actuary as defined in the Act.
Any leave of absence granted in writing by the employer for
reasons, including, but not limited to, accident, sickness, pregnancy
or temporary disability, education, training, jury duty or such other
reasons as may necessitate authorized leave from active employment.
The average annual salary or wages that a plan participant
received during the last or any five years of his/her employment by
the City of Butler, whichever is the higher. Annual salary or wages
shall be the same as the total reported on IRS Form W-2 Wage and Tax
Statement. In the event that an employee's last year of service includes
two tax years, the employee's W-2 earnings for his/her last 12 moths
of service shall be used to calculate average compensation.
[Amended 5-25-2006 by Ord. No. 1588]
The person or legal entity designated by the participant
to receive any applicable benefits under the plan payable upon the
occurrence of the death of the participant. In the event that a participant
does not designate a beneficiary or the beneficiary does not survive
the participant, the beneficiary shall be the surviving spouse, or
if there is no surviving spouse, the issue, per stirpes, or if there
is no surviving issue, the estate; but if no personal representative
has been appointed, to those persons who would be entitled to the
estate under the intestacy laws of the Commonwealth of Pennsylvania
if the participant had died intestate and a resident of Pennsylvania.
The Officers and Employees Retirement Board.
The person designated by the employer who has primary responsibility
for the execution of the administrative affairs of the plan.
The Internal Revenue Code of 1986, as amended.
The Commonwealth of Pennsylvania.
The total remuneration, whether salary or hourly wages, paid
to an employee by the employer with respect to personal services rendered
as an employee. Compensation shall exclude extra or additional forms
of remuneration such as amounts paid as allowance or reimbursement
for expenses, payments made by the employer to this or any other employee
welfare or benefit plans on behalf of its employees (other than deductions
from an employee's remuneration which is reclassified as an employer
payment), and amounts paid as lump sums for back-pay, damage awards
or settlements other than to the extent that such amounts are credited
to periods of time when they would otherwise have accrued or been
earned such that no amounts are credited in a manner which would result
in duplication of remuneration for any particular period of time.
Compensation shall be limited on an annual basis for purposes of this
plan to the amount specified in accordance with Code Section 401(a)(17)
for government plans, as adjusted under Code Section 415(d).
Any insurance or annuity contract issued by an insurance
company in accordance with the requirements of the plan.
The City Council of the City of Butler, Pennsylvania.
The first day of the month coincident with or next following
the date when a participant who has completed at least 15 years of
credited service prior to attaining age 55 terminates employment due
to a total and permanent disability.
Any person who is employed by the City of Butler excluding
any uniformed employees. Employee shall include any elected or appointed
officials of the City compensated at a stated salary for services
rendered.
The City of Butler, Pennsylvania, a political subdivision
of the Commonwealth.
The period of time for which an employee is directly or indirectly
compensated or entitled to compensation by the employer for the performance
of duties as an employee. Employment may include, for the purpose
of determining years of credited service, an authorized leave of absence
to the extent it is specifically granted in writing by the Council
and permitted pursuant to applicable law. Employment shall also include
any period of qualified military service as determined under the requirements
of Chapter 43 of Title 38, United States Code, provided that the participant
returns to employment following such period of qualified military
service, and the participant makes payment to the plan in an amount
equal to the participant contributions that would otherwise have been
paid to the plan during such period of qualified military service.
The amount of participant contributions shall be based upon an estimate
of the compensation that would have been paid to the participant during
such period of qualified military service as determined by the average
compensation paid to the participant during the 12 months immediately
preceding the period of qualified military service. The amount of
participant contributions so calculated must be paid into the plan
before the end of the period that begins on the date of reemployment
and ends on the earlier of the date that ends the period that has
a duration of three times the period of qualified military service
or the date that is five years after the date of reemployment.
Any legal reserve life insurance company licensed to do business
in one or more states of the United States.
The minimum annual obligation of the municipality as determined
by the actuary and certified by the chief administrative officer pursuant
to the provisions of the Act.
The later of attainment of age 60 or completion of 20 years
of credited service.
The first day of the month coincident with or next following
the date when an employee attains normal retirement age.
A written document prepared in the form specified by the
plan administrator and delivered as follows: If such notice or election
is to be provided by the employer or plan administrator, it shall
be mailed in a properly addressed envelope, postage prepaid, to the
last known address of the person entitled thereto on or before the
last day of the specified notice or election period; or, if such notice
or election is to be provided to the employer or the plan administrator,
it must be received by the recipient on or before the last day of
the specified notice or election period.
Any employee who has commenced participation in this plan in accordance with Article II and has not for any reason ceased to participate hereunder.
The assets of the plan, which shall be accounted for separately
from the assets of any other plans maintained by the employer and
which shall be administered under the supervision of the employer
in accordance with the terms of the plan.
The Board appointed pursuant to the provisions of applicable law to administer the plan as more fully described herein under Article IX.
The City of Butler Officers and Employees Pension Plan.
The Pension Plan Board. In the event no such Board is appointed,
the plan administrator shall be the Council.
The twelve-month period beginning on January 1 and ending
on December 31.
January 1, 2002, the effective date of this amended and restated
plan.
A condition of physical or mental impairment due to which
a participant is unable to perform any customary duties of employment
with the employer.
Any consecutive twelve-month period during which a participant
is continuously employed in employment. Each year of credited service
shall be determined from the date on which participation in the plan
shall commence and annual anniversaries thereof and/or the date that
reemployment of a participant shall commence and anniversaries thereof,
provided that the employee has authorized the payment of employee
contributions to the plan. Years of credited service shall include
any time not exceeding six years spent by the employee on active duty
with the Armed Forces of the United States, provided that he received
an honorable discharge or a certificate of satisfactory service and
he pays to the Board an amount equal to 3% of his/her last monthly
salary or wage prior to entering active duty for each month he is
not employed by the City because of his/her active duty with the armed
forces. Years of credited service shall include a maximum of three
years of armed service time towards retirement by paying into the
Officers and Employees Fund an amount equal to that person's prevailing
rate of pension contributions at the time of the purchase, multiplied
by the number of years or a fraction thereof desired to be credited
towards retirement. A copy of the person's discharge papers from the
armed services shall be furnished to the City. The City shall be entitled
to two weeks' notice from any person who intends to terminate his/her
employment and to purchase service time hereunder.
