[Adopted 12-8-1992 by Ord. No. 256]
A pension plan is hereby established for the full-time police
employees pursuant to and in compliance with the Act of May 29, 1956,
P.L. 1804, as amended. Such plan shall be under the direction of the Borough
Council and shall be applied under such regulations as Council may
prescribe. The effective date of this plan shall be January 1, 1993.
As used in this article, the following terms shall have the
meanings indicated:
BOARD
The governing body of the Borough of New Britain acting in
the capacity of administrator of the Police Employees Pension Plan
established pursuant to this article.
COMMITTEE
The persons which may be appointed to serve in an advisory
capacity to the Council in the administration of the plan.
COMPENSATION
The monies received by a participant in each and every month,
including base pay, longevity pay, night differential, overtime, and
any other such increments. Payments made for unused vacation time
will be included for computation of retirement benefits. Payments
made for unused "sick time" will not be included for computation of
retirement benefits.
CONTRIBUTION
The monies paid by the employer to the plan and/or the payroll deductions made monthly from the compensation of the participants and paid to the plan, except that "contributions" in §
46-5B shall mean the participant's total contributions accumulated during the period of employment and participation in this plan.
FUTURE SERVICE LIABILITY
The value of any participant's benefits which shall
accrue by virtue of that participant's service rendered subsequent
to the enactment of this article.
PARTICIPANT
Every person duly appointed from time to time by the employer
as a full-time police employee working not less than 40 hours per
week with a definite compensation subject to reasonable vacation and
sick leave, to be included in the plan upon date of hire.
PLAN
The Police Employees Pension Plan established pursuant to
this article.
SERVICE
Total aggregate service with the employer, not necessarily
continuous, beginning upon date of hire.
TERMINATION
The cessation of service by the participant for any reason
including disability, resignation, and employer termination. Death
shall not be considered a termination within the meaning of this article.
Voluntary leaves of absence without pay shall not be considered a
termination for purposes of this article; but no period of such leave
shall be computed in the total service for pension benefit purposes.
UNFUNDED LIABILITY
The present value of any participant's benefits accrued
prior to the enactment of this article by virtue of that participant's
prior service.
Any participant in the plan with at least six months of service
with the employer who thereafter shall enter the military service
of the United States of America shall have credited to that participant's
service record for pension benefit purposes only the initial term
of military service of the participant, provided that the participant
returns to service with the employer within six months after said
participant's separation from such military service.
Upon termination of the plan, the assets shall be distributed
as follows.
A. Sufficient funds shall be maintained to provide the pension benefits prescribed in §
46-4 for all participants who have retired prior to the termination of the plan, or who are eligible to retire at the time of the termination of the plan.
B. Sufficient funds shall be maintained to provide the vested pension
benefits, if included in this article, for all participants who are
eligible for such benefits.
C. Of the remaining funds, those which can be identified as contributions
of the employer, or contributions other than from participants or
from the commonwealth allocations, shall be distributed as the Council
sees fit, provided that such distribution is made on a uniform basis.
D. All funds in excess of the funds described in Subsections
A,
B and
C above shall be returned to the commonwealth as unused funds pursuant to the Act of May 12, 1943, P.L. 259, as amended, 72 P.S. § 2263.1 et seq.
The Council reserves the right to amend at any time in whole
or in part, any or all of the provisions of the plan; provided that
no such amendment shall authorize or permit any part of the plan to
be used or diverted to purposes other than for the exclusive benefit
of the participants, their beneficiaries, or their estates. Nor shall
any amendment divest a participant of benefits vested if included
in this article. All such amendments shall comply with the applicable
statutes of the Commonwealth of Pennsylvania.
[Adopted 9-9-2008 by Ord. No. 327; amended in its entirety 11-10-2015 by Ord. No. 367]
A pension plan is hereby established for the Borough's
full-time, nonuniformed employees pursuant to and in compliance with
the Borough Code, as amended. Such plan shall be under the direction
of Borough Council of the Borough of New Britain and shall be applied
under such regulations as Borough Council may prescribe. The effective
date of this article generally shall be January 1, 2008. However,
this article, except as it revises the existing nonuniformed employees
pension plan, is intended as a continuation of that plan for state
aid purposes. In addition, revisions made subsequent to such effective
date are separately identified.
As used in this article, the following terms shall have the
meanings indicated:
BOROUGH COUNCIL
The governing body of the Borough of New Britain acting in
the capacity of administrator of the nonuniformed pension plan established
pursuant to this article.
COMMITTEE
The persons who may be appointed to serve in an advisory
capacity to the Borough Council in the administration of the plan.
CONTRIBUTION
The monies paid by the employer to the plan and/ or the payroll deductions made monthly from the salaries of the participants and paid to the plan; except that "contributions" in §
46-15D shall mean total contributions paid by the participant and accumulated during the period of employment and participation in this plan.
FUTURE SERVICE LIABILITY
The value of any participant's benefits which shall
accrue by virtue of that participant's service rendered subsequent
to the enactment of this article.
PARTICIPANT
Every person duly appointed from time to time by the employer
as a full-time nonuniformed employee working not less than 35 hours
per week at a definite salary, subject to reasonable vacation and
sick leave, to be included in the plan upon date of hire.
PLAN
The nonuniformed pension plan established pursuant to this
article.
SALARY
The amount of compensation received by a participant in each
and every month, including base pay, overtime pay, longevity pay,
shift differential, and any other such increments. The term "salary"
shall include regular payments made for vacation time, sick time,
compensation time, personal days and bereavement leave but shall not
include lump sum payments for any unused days for any of the foregoing
listed benefits.
SERVICE
Total aggregate service, not necessarily continuous, with
the employer.
TERMINATION
The cessation of service by the participant for any reason
including disability, resignation and employee termination. Death
shall not be considered a termination within the meaning of this article.
Voluntary leaves of absence without pay shall not be considered a
termination for the purposes of this article; but no period of such
leave shall be computed in the total service for pension benefit purposes.
Leaves of absence with pay shall not be considered a termination within
the meaning of this article (provided that the municipality is able
to certify to the Department of the Auditor General that such participant
on a leave of absence with pay is within the definition of a participant
as set forth herein); but such leaves may be computed in the total
service for pension benefit purposes.
UNFUNDED LIABILITY
The present value of any participant's benefits accrued
prior to the enactment of this article by virtue of that participant's
prior service.
Any participant in the plan with at least six months of service
with the employer who thereafter shall enter the military service
of the United States of America shall have credited to the participant's
employment record for pension benefit purposes all of the time spent
by the participant in such military service, provided that the participant
returns to service with the employer within six months after said
participant's separation from such military service.
Upon termination of the plan, the assets shall be distributed
as follows:
A. Sufficient funds shall be maintained to provide the pension benefits
prescribed in Article IV for all participants who have retired prior
to the termination of the plan, or who are eligible to retire at the
time of the termination of the plan.
B. Sufficient funds shall be maintained to provide vested pension benefits
prescribed in Article IV for all participants who are eligible for
such benefits.
C. Any funds representing contributions from the remaining participants
shall be returned to such participants with interest at a rate of
6% per annum.
D. Of the remaining funds, those which can be identified as contributions
of the employer, or contributions other than those identified as unused
commonwealth allocations, shall be distributed as the Borough Council
sees fit, provided that such distribution is made on a uniform basis.
E. All funds in excess of the funds described in Subsections
A,
B,
C and
D above shall be returned to the Commonwealth as unused funds pursuant to the act of May 12, 1943, P.L. 259, No. 120, as amended, 72 P.S. § 2263.1 et seq.
All investments by the Borough Council of the assets of this
plan shall comply with any applicable state statutes, rules and regulations
with respect to municipal investments for nonuniformed pension funds
and with such regulations as the Borough Council shall establish for
the purpose of investing such funds.
Borough Council reserves the right to amend, at any time in
whole or in part, any or all of the provisions of the plan, provided
that no such amendment shall authorize or permit any part of the plan
to be used or diverted to purposes other than for the exclusive benefit
of the participants, their beneficiaries, or their estates. Nor shall
any amendment divest a participant of benefits vested by the provisions
of Article IV. All such amendments shall comply with the applicable
statutes of the Commonwealth of Pennsylvania.