[HISTORY: Adopted by the Borough Council
of the Borough of Denver as indicated in article histories. Amendments
noted where applicable.]
[Adopted 3-26-1990 by Ord. No. 447 (Ch.
1, Part 6 of the 1996 Code)]
[Amended 6-24-1996 by Ord. No. 476]
This article shall be known and may be cited
as the "Denver Borough Nonuniformed Employees Pension Plan-A."
Denver Borough hereby establishes a pension
plan for its nonuniformed employees which shall be governed by the
regulations of this article and applicable laws of this commonwealth
and the United States.
[Amended 6-24-1996 by Ord. No. 476]
A.Â
General. In the construction of this article, the
singular shall include the plural, and the plural shall include the
singular. Use of the masculine gender shall include the feminine gender.
B.Â
BOROUGH
COMMONWEALTH
FULL-TIME EMPLOYEE
PARTICIPATING EMPLOYEE
PLAN
Specific terms. Unless the context specifically and
clearly indicates otherwise, the meaning of terms and phrases used
in this article shall be as follows:
The Borough of Denver, Lancaster County, Pennsylvania.
The Commonwealth of Pennsylvania.
A nonuniformed employee of the Borough who regularly works
a minimum of 35 hours per week.
A nonuniformed employee of the Borough who is eligible to
participate in the plan.
The Borough of Denver Nonuniformed Employees Pension Plan-A.
[Amended 6-24-1996 by Ord. No. 476; 11-8-2010 by Ord. No.
593]
All full-time nonuniformed employees of the
Borough on the effective date of this article shall be eligible to
participate in the plan. All full-time nonuniformed employees hired
after the effective date of this article shall be eligible to participate
in the plan after completion of 24 months of service. Employees shall
become eligible on the first day of the calendar month next following
the date on which the employee met the requirements to participate.
Any participating employee who ceases employment with the Borough
shall be entitled to resume active participation in the plan if such
employee is rehired as a full-time nonuniformed employee of the Borough,
and the date of eligibility shall be the date of rehire.
Participating employees shall be 100% vested
upon entering the plan.
[Amended 6-24-1996 by Ord. No. 476]
A.Â
The Borough shall maintain a separate account covering
each participating employee in the plan. Such account shall be increased
by the participating employee's share of contributions, investment
income and market value appreciation of the plan. The share of each
participating employee shall be decreased by the participating employee's
share of market value depreciation of the plan.
B.Â
A participating employee under this plan shall be
entitled to an allocation of the Borough's contribution to the plan
as of the last day of each calendar quarter (March 31, June 30, September
30 and December 31), provided that he or she is employed on such date
as a full-time, nonuniformed employee of the Borough. Through December
31, 2019, the Borough shall contribute to the account of each participating
employee an amount equal to 6% of the participating employee's regular
hourly rate times the number of hours that such participating employee
worked in the calendar quarter year up to a maximum of 520 hours per
quarter and a maximum of 2,080 hours per calendar year. Commencing
January 1, 2020, the Borough shall contribute to the account of each
participating employee in an amount equal to 7% of the participating
employees' regular hourly rate times the number of hours that such
participating employee worked in the calendar quarter year up to a
maximum of 520 hours per quarter and a maximum of 2,080 hours per
calendar year, provided that in calendar years
in which there are 27 biweekly pay periods, the Borough shall contribute
to the account of each participating employee in an amount equal to
7% of the participating employees' regular hourly rate times the number
of hours that such participating employee worked in the calendar quarter
year up to a maximum of 2,160 hours per calendar year.
[Amended 11-24-2014 by Ord. No. 621; 9-30-2019 by Ord. No. 658; 1-6-2020 by Ord. No. 662]
[Amended 11-8-2010 by Ord. No. 593]
Normal retirement age shall be considered to
be the date a participating employee attains his or her 65th birthday.
Benefits shall be distributable upon death, permanent and total disability,
or termination of service with the Borough. A participating employee
who has attained his or her normal retirement age shall not be entitled
to receive distributions of benefits while still employed with the
Borough.
The Borough shall enter into an agreement for
the administration of the plan with a trustee who shall maintain a
separate account for each participating employee and who shall invest
such funds as may be authorized by the trust document. All such investments
shall be made in accordance with applicable laws of the commonwealth
and the United States.
[Adopted 6-24-1996 by Ord. No. 476 (Ch.
1, Part 10 of the 1996 Code)]
This article shall be known and may be cited
as the "Denver Borough Nonuniformed Employee Pension Plan-B."
Denver Borough hereby establishes a pension
plan for its nonuniformed employees which shall be governed by the
regulations of this article and applicable laws of the commonwealth
and the United States.
A.Â
General. In the construction of this article, the
singular shall include the plural, and the plural shall include the
singular. Use of the masculine gender shall include the feminine gender.
B.Â
BOROUGH
COMMONWEALTH
FULL-TIME EMPLOYEE
PARTICIPATING EMPLOYEE
PLAN
Specific terms. Unless the context specifically and
clearly indicates otherwise, the meaning of terms and phrases used
in this article shall be as follows:
The Borough of Denver, Lancaster County, Pennsylvania.
The Commonwealth of Pennsylvania.
A nonuniformed employee of the Borough who regularly works
a minimum of 35 hours per week.
A full-time, nonuniformed employee of the Borough who has
elected to participate in the plan.
The Borough of Denver Nonuniformed Employee Pension Plan-B.
[Amended 11-8-2010 by Ord. No. 593]
All full-time nonuniformed employees of the
Borough on the effective date of this article shall be eligible to
participate in the plan. All full-time nonuniformed employees hired
after the effective date of this article shall be eligible to participate
in the plan after completion of six months of service. Employees shall
become eligible on the first day of the calendar month next following
the date on which the employee met the requirements to participate.
Any participating employee who ceases employment with the Borough
shall be entitled to resume active participation in the plan if such
employee is rehired as a full-time nonuniformed employee of the Borough,
and the date of eligibility shall be the date of rehire.
Participating employees shall be 100% vested
upon entering the plan.
The plan is a pension plan wherein each participating
employee elects to participate by contributing a set percentage of
his or her salary. Each participating employee may elect to have any
percentage of his or her salary withheld and contributed to the plan.
A participating employee may modify the percentage of his or her salary
to be contributed to the plan between January 1 and January 15 of
each calendar year.
[Amended 11-8-2010 by Ord. No. 593]
Normal retirement age shall be considered to
be the date a participating employee attains his or her 65th birthday.
Benefits shall be distributable upon death, permanent and total disability,
or termination of service with the Borough. A participating employee
who has attained his or her normal retirement age shall not be entitled
to receive distributions of benefits while still employed with the
Borough.
The Borough shall enter into an agreement for
the administration of the plan with a trustee who shall maintain a
separate account for each participating employee and who shall invest
such funds as may be authorized by the trust document. All such investments
shall be made in accordance with applicable laws of the commonwealth
and the United States.
