[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
Plumstead Township (the "Township"), having established a Nonuniform
Pension Plan administered by the Pennsylvania Municipal Retirement
System (the "System"), hereby elects to amend its Nonuniform 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.
[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
As part of this Subpart 6B, the Township agrees that the System
shall administer and provide the benefits set forth in the amended
Nonuniform Pension Plan Document entered into between the Pennsylvania
Municipal Retirement Board and the Township effective as of the date
specified in the adoption agreement (the "contract").
[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
The Township acknowledges that, by passage and adoption of this
Subpart 6B, the Township officially accepts the contract and the financial
obligations resulting from the administration of the contract.
[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
Payment for any obligation established by the adoption of this
Subpart 6B 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.
[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
The Township intends this Subpart 6B to be the complete authorization
of the contract, as amended, and it shall become effective as of the
date specified in the adoption agreement, which is the effective date
of the contract, as amended.
[Ord. No. 2008-06, 4/1/2008; as amended by Ord. No. 2020-02, 7/14/2020]
A duly certified copy of this Subpart 6B and an executed contract
shall be filed with the System.