[HISTORY: Adopted by the Borough Council of the Borough of Quarryville as indicated in article histories. Amendments noted where applicable.]
[Adopted 4-6-2015 by Ord. No. 411]
This article shall be known and may be cited as the "Quarryville Borough Nonuniformed Employee Pension Plan Ordinance."
There is hereby established the Quarryville Borough Nonuniformed Employee Pension Plan as set forth in the document entitled, "Borough of Quarryville Nonuniformed Employees Pension Plan Restatement January 1, 1997," executed February 27, 2002, containing Articles I, Format and Definitions; II, Participation; III, Contributions; IV, Retirement Benefits; V, Other Benefits; VI, When Benefits Start and Distribution of Benefits; VII, Distribution Requirements; VIII, Termination of the Plan; IX, Administration of Plan; and X, General Provisions, and amended and supplemented by Amendment No. 1 dated April 19, 2005; Amendment No. 2 dated as of the effective date of this article; copies of which documents are presently on file in the Office of the Secretary of the Borough.
Borough Council hereby appoints the Borough Secretary as the Chief Administrative Officer of the Quarryville Borough Nonuniformed Employee Pension Plan pursuant to Pennsylvania Act 205, the Municipal Pension Plan Funding Standard and Recovery Act.
Editor's Note: See 53 P.S. § 895.101 et seq.
Borough Council may discontinue, modify, alter, terminate or repeal the Quarryville Borough Nonuniformed Employee Pension Plan as allowed by law.
[Adopted 4-3-2019 by Ord. No. 437]
Quarryville Borough (the "Borough"), having established a police pension plan administered by the Pennsylvania Municipal Retirement System (the "System") by Ordinance No. 430, hereby elects to amend its Police 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 Borough agrees that the System shall administer and provide the benefits set forth in the Amended Police Pension Plan Contract between the Board and Quarryville Borough effective January 1, 2019 (the "Contract").
The Borough acknowledges that by passage and enactment of this article, the Borough officially accepts said contract and the financial obligations resulting from the administration of said contract.
Payment for any obligation established by the adoption of this article and the contract shall be made by the Borough in accordance with the Retirement Law and the Municipal Pension Plan Funding Standard and Recovery Act. The Borough hereby assumes all liability for any unfundedness created due to the benefit structure set forth in the contract.
The Borough intends this article to be the complete authorization of the contract and it shall become effective as of January 1, 2019, which is the effective date of the contract.
A duly certified copy of this article and the executed contract shall be filed with the Pennsylvania Municipal Retirement System of the Commonwealth of Pennsylvania.