[Adopted 3-9-1984 by Ord. No. 2-84; amended in its entirety 9-18-2001 by Ord. No. 01-1]
Raccoon Township, 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 permanent municipal employees of the Township. Membership for elected officials and employees hired on a temporary or seasonal basis is optional. Membership for individuals paid only on a fee basis is prohibited. The election by elected officials and temporary or seasonal employees to join the system shall be made within one year after the official or employee first enters the service of Raccoon Township.
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 September 18, 2001, 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 system and Raccoon Township shall be made by the Township 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 Township agrees that the system shall provide the benefits set forth in the agreement between the Board and Raccoon Township, dated September 18, 2001. The passage and adoption of this chapter by Raccoon Township is an official acceptance of said agreement and the financial obligations resulting from the administration of said benefit package. Raccoon 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 hereby acknowledges that an affirmative vote representing at least 75% of the plan members indicated the members were in agreement with the benefit change in the plan being administered by the Pennsylvania Municipal Retirement System.
Raccoon Township intends this chapter to be the complete authorization of the Township plan and specifically repeals Ordinance Numbers 88-3 and 2-84 either immediately or on September 1, 2001, which is the effective date of the amended agreement dated September 18, 2001, between the Pennsylvania Municipal Retirement System and Raccoon Township, 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 Raccoon Township in the Pennsylvania Municipal Retirement System shall be effective the first day of January 1984, with the revised plan structure reflected in the agreement dated September 18, 2001, effective the first day of September 2001.