[Adopted 3-15-2004 by Ord. No. 1064]
Mount Union 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, Act 15 of 1974, as amended,[1] 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 all permanent municipal employees of the Borough.
Membership for elected officials 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 Borough, from the 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 January 1, 2004, 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
article and the agreement between the system and the Mount Union Borough
shall be made by the 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 article, the Borough agrees that the system
shall provide the benefits set forth in the agreement between the
Board and Mount Union Borough dated January 1, 2004. The passage and
adoption of this article by Mount Union Borough is an official acceptance
of said agreement and the financial obligations resulting from the
administration of said benefit package. Mount Union 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.
Mount Union Borough intends this article to be the complete
authorization of the Borough plan, and it shall become effective and
specifically repeal Ordinance No. 1049 either immediately or on January
1, 2004, which is the effective date of the amended agreement dated
January 1, 2004, between the Pennsylvania Municipal Retirement System
and Mount Union Borough, whichever is later.
A duly certified copy of this article and the referenced agreement
shall be filed with the Pennsylvania Municipal Retirement System of
the Commonwealth of Pennsylvania. Membership for the municipal employees
of Mount Union Borough in the Pennsylvania Municipal Retirement System
shall be effective the 1st day of January, 1962, with the revised
plan structure reflected in the agreement dated January 1, 2004.
