[HISTORY: Adopted by the Borough Council of the Borough of Carlisle 3-8-1984 by Ord. No. 1442, approved 3-8-1984. Amendments noted where applicable.]
Pensions — See Ch. 52.
A permanent Pension Advisory Commission is hereby established.
The Pension Advisory Commission shall consist of five members appointed by Borough Council to serve five-year terms. The initial appointments to the Commission shall be staggered as follows: one member shall be appointed to a five-year term, one member to a four-year term, one member to a three-year term, one member to a two-year term and one member to a one-year term.
Representation of police. At least one of the five members appointed by Council shall be an active full-time paid policeman of the Borough who is a participant in the Police Pension Plan.
Representation of employees other than police. At least one of the five members appointed by Council shall be a full-time employee of the Borough who is an active participant in the Borough's Municipal Employees Pension Plan.
The members of the Pension Advisory Commission shall serve without pay, and vacancies in said Commission occurring otherwise than by expiration of a term shall be filled by Council for the unexpired term.
The members of the Pension Advisory Commission shall elect their own Chairperson to serve for a period of one year. The election of the Chairperson shall occur at the first meeting of the year to be held in January. The Borough Finance Director shall serve as ex officio Secretary to the Commission. The Commission shall establish its own operating procedures and other offices as may be deemed necessary from time to time.
The Commission shall meet at least twice per year to consider any business which may come before the Commission. However, nothing herein shall be construed to limit the Commission from meeting more often should it deem it necessary to do so.
The Commission shall be an advisory body to the Borough Council on all matters relating to the Borough's Police Pension and Municipal Employees Pension Plans. The Commission shall investigate and study proposed benefit changes, investment practices, selection of outside professional services and make recommendations to Borough Council on such matters. Furthermore, the Commission shall be responsible for keeping Borough Council and employees who are members of the pension plans informed of the benefits offered by each plan and the financial status of each plan.
Editor's Note: See Ch 52, Pensions.