[Ord. 1991-6, 12/23/1991, § 1; as amended by Ord. 2001-5, 10/1/2001, § 1; and by Ord. 2002-8, 12/16/2002, § 1]
The Borough of Burnham hereby ratifies and confirms the prior establishment of a pension plan for its full-time, nonuniformed employees, and it hereby further amends and adopts said plan per the "Defined Benefit Pension Plan Joinder Agreement (other than Act 600) for the Borough of Burnham Nonuniformed Pension Plan" dated November 19, 2002, and to be executed by the Borough of Burnham and the PSAB Board of Trustees (the "Joinder Agreement"), attached hereto,[1] incorporated herein by reference and marked "Exhibit A," and per the terms of the Pennsylvania State Association of Boroughs Master Retirement Trust, and related documents, the terms of which are hereby incorporated by reference thereto. All are hereby adopted by the Borough of Burnham, and are to be known as the Borough of Burnham Nonuniformed Pension Plan and said Plan shall be deemed to be a successor to and a continuation of the prior plan.
[1]
Editor's Note: The original of the "Defined Benefit Pension Plan Joinder Agreement" is on file in the Borough office.
[Ord. 1991-6, 12/23/1991, § 2; as amended by Ord. 2001-5, 10/1/2001, § 2; and by Ord. 2002-8, 12/16/2002, § 2]
The Plan adopted, as amended, is that plan administered by the Pennsylvania State Association of Boroughs Master Retirement Trust (the "PSAB Master Retirement Trust"), restated and effective as of December 31, 2002, and the accompanying Joinder Agreement, which documents together shall constitute the retirement plan known as the Borough of Burnham Nonuniformed Pension Plan (the "Plan"), and as it may be supplemented and amended from time to time in the future. Such documents, and the provisions thereof, are hereby adopted by the Borough of Burnham.
[Ord. 1991-6, 12/23/1991, § 3; as amended by Ord. 2001-5, 10/1/2001, § 3; and by Ord. 2002-8, 12/16/2002, § 3]
The President of Borough Council, or in his absence or disability, the Vice President of Borough Council, together with the Borough Secretary, or in her absence or disability, the Assistant Secretary, are hereby authorized and directed to execute the Joinder Agreement and any and all necessary documents in relation to the Plan and said Joinder Agreement shall supersede, replace and supplant any previously executed Joinder Agreement in relation to the Plan.
[Ord. 1991-6, 12/23/1991, § 4; as amended by Ord. 2001-5, 10/1/2001, § 4; and by Ord. 2002-8, 12/16/2002, § 4]
The Borough shall perform all of the duties and responsibilities assigned to it and may, at the discretion of Borough Council, exercise any and all powers vested in it by the said Plan to the extent adopted and indicated in said Joinder Agreement.
[Ord. 1991-6, 12/23/1991, § 5; as amended by Ord. 2001-5, 10/1/2001, § 5; and by Ord. 2002-8, 12/16/2002, § 5]
The full-time, nonuniformed employees of the Borough shall have all of the rights and all of the duties indicated by the Joinder Agreement and may exercise any options granted them by the terms of said Plan to the extent adopted and indicated in said Joinder Agreement.
[Ord. 1991-6, 12/23/1991, § 6; as amended by Ord. 2001-5, 10/1/2001, § 6; and by Ord. 2002-8, 12/16/2002, § 6]
The proper officers or agents of the Borough are authorized to do all things necessary and appropriate to implement and provide said Nonuniformed Pension Plan to the included employees to the extent adopted and indicated in said Joinder Agreement, and by terms of the Pennsylvania State Association of Boroughs Master Retirement Trust.