East Stroudsburg Borough, being a member municipality of the Pennsylvania
Municipal Retirement 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, 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 Board and the
municipality under the provisions of Article IV of the Pennsylvania Municipal
Retirement Law.
Membership in the Pennsylvania Municipal Retirement System shall be
mandatory for all full-time municipal employees of the Borough. Membership
for elected officials, part-time employees, 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 Borough 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 December 20,
2005, shall accrue based on all credited service granted and earned in accordance
with this section.
Payment for any obligation established by the adoption of this chapter
and the agreement between the Board and East Stroudsburg Borough shall be
made by the Borough in accordance with the Pennsylvania Municipal Retirement
Law and Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery
Act.
As part of this chapter, the Borough agrees that the system shall provide
the benefits set forth in the agreement between the Board and East Stroudsburg
Borough, dated December 20, 2005. The passage and adoption of this chapter
by East Stroudsburg Borough is an official acceptance of said agreement and
the financial obligations resulting from the administration of said benefit
package. East Stroudsburg Borough 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.
East Stroudsburg Borough intends this chapter to be the complete authorization
of the Borough's municipal pension plan and it shall become effective and
specifically repeal Ordinance No. 1161, either immediately or on October 1,
2005, which is the effective date of the amended agreement dated December
20, 2005, between the Pennsylvania Municipal Retirement System and East Stroudsburg
Borough, whichever is later.
A duly certified copy of this chapter and the referenced agreement shall
be filed with the Pennsylvania Municipal Retirement System of the Commonwealth
of Pennsylvania. Membership for the municipal employees of East Stroudsburg
Borough in the Pennsylvania Municipal Retirement System shall be effective
the first day of January 1962, with the revised plan structure reflected in
the agreement dated December 20, 2005, effective the first day of October
2005.