[HISTORY: Adopted by the Borough Council
of the Borough of New Freedom as indicated in article histories. Amendments
noted where applicable.]
GENERAL REFERENCES
Salaries and compensation — See Ch. 54.
[Adopted 3-24-1997 by Ord. No. 1997-2]
New Freedom Borough hereby withdraws its nonuniform
pension plan from the Pennsylvania State Association of Boroughs Pension
Plan and Trust ("Trust") for Non-Uniform Employees. All funds and
equities on deposit with the Trust shall be returned to New Freedom
Borough.
The New Freedom Borough Nonuniform Retirement
Plan, as contained in Group Contract No. 4-26298, prepared by Principal
Mutual Life Insurance Company, 711 High Street, Des Moines, Iowa 50309,
is hereby adopted and enacted as though the provisions of the aforementioned
retirement plan were repeated and set out in this article in their
entirety. Copies of the aforementioned retirement plan are on file
in the New Freedom Borough administrative office.
This article shall be effective immediately,
and the funding of the Group Contract No. 4-26298 shall be upon the
return of the funds from the Trust to the Borough.
