Larksville Borough hereby elects to enter its police into the
Pennsylvania Municipal Retirement System, established by the Pennsylvania
Municipal Retirement Law under Article IV of Act 15 of 1974, as amended, and does hereby agree to be bound by all the requirements
and provisions of the said Pennsylvania Municipal Retirement Law and
the amendments thereto and to assume all obligations, financial and
otherwise, placed upon member municipalities by said Pennsylvania
Municipal Retirement Law and the amendments thereto.
Membership in the Pennsylvania Municipal Retirement System shall
be mandatory for any policeman holding a full-time position.
Credit for prior service toward the municipal annuity of each
original member shall be for all years of service to the Larksville
Borough police. Larksville Borough does hereby assume the liability
for payment of 100% of the original members' contributions for
all years of service towards the original members' annuity for
the prior service of each original member.
Payment for the prior service as set forth in §
54-9 hereof shall be made by the Borough in accordance with said Pennsylvania Municipal Retirement Law and may be spread over a period of 30 years if the Larksville
Borough so elects and with the approval of the Pennsylvania Municipal
Retirement Board.
A duly certified copy of this article shall be filed with the
Pennsylvania Municipal Retirement Board of the Commonwealth of Pennsylvania,
and membership under Article IV for the Larksville Borough police
in the Pennsylvania Municipal Retirement System shall be effective
the first day of September 1981.