[HISTORY: Adopted by the Board of Supervisors of the Township of Salisbury as indicated in article histories. Amendments noted where applicable.]
[Adopted 11-19-1985 (Ch. 1, Part 2, of the 1999 Code of Ordinances); amended in its entirety 1-7-2002 by Res. No. 1-7-02-1]
A. 
The duly elected auditors of Salisbury Township have initiated and recommended a pension plan and benefits for all full-time employees of Salisbury Township; and
B. 
The Salisbury Township Supervisors have initiated and recommended a pension plan and benefits for all full-time employees of Salisbury Township; and
C. 
The Salisbury Township Supervisors believe they should adopt said plan as it would be in the best interest of the Township and its government to do so.
The full-time employees shall be eligible for pension benefits after 10 years of service as employees and at age 62, whichever is the later date, but not sooner than at age 62. A full-time employee is defined as an employee who works at least 30 hours per week.
The pension benefits shall consist of 1 1/2% of the final average monthly salary, averaged over the final 36 months of employment multiplied by the years of service at retirement.
Said pension benefits shall vest 100% after 10 years of continuous service as an employee of the Township and said employee shall be entitled to receive the aforesaid pension on retirement and after said 10 years of service or at age 62, whichever is the later date, but cannot receive any such benefits until at least age of 62.
On retirement the standard form of annuity shall be the life annuity.
Under this resolution, the Township has elected to participate in the Pennsylvania Municipalities Pension Trust established for the benefit of the employees of the participating municipalities of Pennsylvania and the terms and conditions of the trust instrument entered into to effectuate such plans.
Upon the death of a retired member that is eligible for retirement on the date of their death or a vested employee on the date of their death, the surviving spouse shall be entitled to a survivor's benefit equal to 50% of the immediate retirement benefit to which the member was receiving or would have been receiving had he been retired at the time of death. Payments of the benefits shall continue until death or remarriage of surviving spouse. In the event that the member is survived by a minor dependent child but not spouse, the benefits shall be paid to such child until the child has attained the age of 18 years.
The Supervisors shall from time to time appoint a chief administrative officer of the Salisbury Township Pension Plan either by a separate resolution or motion.