[HISTORY: Adopted by the Council of the City
of Sunbury as indicated in article histories. Amendments noted where
applicable.]
[Adopted 11-22-2021[1]]
[1]
Editor's Note: This ordinance provided an effective date of
12-2-2021. This ordinance also superseded former Ch. 40, Retirement
System, adopted 5-11-2015 by Ord.
No. 1276.
Sunbury City (the City), 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.
As part of this article, the City 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 City effective as of the date specified in
the adoption agreement (the contract).
The City acknowledges that by passage and adoption of this article,
the City officially accepts the contract and the financial obligations
resulting from the administration of the contract.
Payment for any obligation established by the adoption of this
article and the contract shall be made by the City in accordance with
the Retirement Law and the Municipal Pension Plan Funding Standard
and Recovery Act. The City hereby assumes all liability for any unfundedness
created due to the benefit structure set forth in the contract.
The terms of this article shall be relative and/or applicable
only to those employees hired after the date of passage hereof, all
of which employees shall be subject to the terms hereof without exception.
The terms of this article shall specifically not be relative and/or
applicable to employees hired prior to the date of passage of this
article.
The City intends this article 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.
A duly certified copy of this article and an executed contract
shall be filed with the System.
[Adopted 11-22-2021[1]]
[1]
Editor's Note: This ordinance provided that the Defined Contribution
Pension Plan shall be effective, and offered to employees hired after,
1-1-2022.
The attached statement of the City of Sunbury Defined Contribution
Pension Plan is enacted. The Mayor/City Clerk, as the agent of the
employer, is authorized and directed to execute the attached statement
of the plan.[1]
[1]
Editor's Note: Said plan is on file in the City offices.
Said plan shall be administered and trusteed by the Defined
Contribution Plan Committee Board, which Committee Board shall consist
of the Director of Finance, the Treasurer, and an individual with
substantial expertise in financial matters who shall be selected by
unanimous vote of the other two members, said three persons being
voting members. The Secretary of the City's Board and the City's Solicitor
shall also serve such Committee as nonvoting members.
The attached trust agreement is ordained and enacted by the
City of Sunbury. The Mayor/City Clerk as the agent of the employer
and John Shipman as the agent of the trustee are authorized and directed
to execute the attached trust agreement.[1]
[1]
Editor's Note: Said trust agreement is on file in the City
offices.
