[Adopted 7-6-1999 by Ord. No. 240]
Concord Township (the Township), being a member
municipality of the Pennsylvania Municipal Retirement System (the
system), hereby elects to change its member benefits in that System
as authorized by the Pennsylvania Municipal Retirement Law, Act 15
of 1974, as amended, (the law) and does hereby agree to be bound by
all the requirements and provisions of said law and to assume all
obligations, financial and otherwise, placed upon member municipalities.
All references hereafter shall be based on benefits negotiated between
the Pennsylvania Municipal Retirement Board and the Township under
the provisions of Article IV of the law.
Membership in the Pennsylvania Municipal Retirement
System shall be mandatory for all permanent, municipal employees of
the Township. Membership for elected officials and employees hired
on a temporary or seasonal basis is prohibited, as is membership for
individuals paid only on a fee basis.
Credit for prior service for original members
is granted for each year or partial year thereof that the member was
employed by the Township from original date of hire or the expiration
of the member's probationary period if one so existed. Benefits provided
to members in the agreement dated July 6, 1999, shall accrue based
on all credited service granted and earned in accordance with this
section.
Payment for any obligation established by the
enactment of this article and the agreement between the system and
Concord Township shall be made by the Township in accordance with
the Pennsylvania Municipal Retirement Law and the Municipal Pension
Plan Funding Standard and Recovery Act, Act 205 of 1984.
As part of this article, the Township agrees
that the system shall provide the benefits set forth in the agreement
between the Board and the Township dated July 6, 1999. The enactment of this article by Concord Township is an
official acceptance of said agreement and the financial obligations
resulting from the administration of said benefit package. The Township
hereby assumes all liability for any unfundedness created or which
may be created due to the acceptance of the benefit structure outlined
in the above-referenced agreement.
The Township intends this article to be the
complete authorization of the Township plan and it shall become effective
and specifically repeal Township Resolution No. 4-1981 either immediately
or on July 1, 1999, which is the effective date of the amended agreement
dated July 6, 1999, between the Pennsylvania Municipal Retirement
System and Concord Township, whichever is later.
A duly certified copy of this article and the
referenced agreement shall be filed with the Pennsylvania Municipal
Retirement System of the Commonwealth of Pennsylvania. Membership
for the municipal employees of Concord Township in the Pennsylvania
Municipal Retirement System shall be effective the first day of January,
1981, with the revised plan structure reflected in the agreement dated
July 6, 1999, effective the first day of July, 1999.