[HISTORY: Adopted by the Borough Council of the Borough of Youngwood 12-19-2005
by Ord. No. 490.[1] Amendments noted where applicable.]
[1]
Editor's Note: This ordinance repealed former Ch. 17, Pensions,
adopted 7-5-2005 by Ord. No. 485.
Youngwood 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,[1] 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.
[1]
Editor's Note: See 53 P.S. § 881.101 et seq.
Membership in the Pennsylvania Municipal Retirement System shall be
mandatory for 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 Youngwood 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 19, 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 System and Youngwood Borough shall be made by
the Youngwood Borough in accordance with the Pennsylvania Municipal Retirement
Law and Act 205 of 1984, the Municipal Pension Plan Funding Standard and Recovery
Act.[1]
[1]
Editor's Note: See 53 P.S. § 881.101 et seq. and 53
P.S. § 895.101 et seq., respectively.
As part of this chapter, the Youngwood Borough agrees that the System
shall provide the benefits set forth in the agreement between the Board and
Youngwood Borough, dated December 19, 2005. The passage and adoption of this
chapter by Youngwood Borough is an official acceptance of said agreement and
the financial obligations resulting from the administration of said benefit
package. Youngwood 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.
The Borough 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.
Youngwood Borough intends this chapter to be the complete authorization
of the Borough plan, and it shall become effective and specifically repeals
Ordinance Number 485 either immediately or on January 1, 2006, which is the
effective date of the amended agreement dated December 19, 2005, between the
Pennsylvania Municipal Retirement System and Youngwood 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 Youngwood Borough
in the Pennsylvania Municipal Retirement System shall be effective the first
day of April 1968, with the revised plan structure reflected in the agreement
dated December 19, 2005, effective the first day of January 2006.
