The Borough of Punxsutawney Police Pension Plan shall be managed
and administered by the Police Pension Committee.
The Police Pension Committee shall consist of five members:
the Borough Manager, the Treasurer of the Police Pension Fund, two
members of the Borough Council who shall be appointed by the President
of the Council and the Chief of Police.
The Borough Manager shall be the chief administrative officer
(CAO) of the plan and shall have primary responsibility for the administration
of the pension plan. The duties of the CAO shall be as follows:
A. Supervise and direct the preparation of actuarial reports;
B. Certify and file actuarial valuation reports with the Public Employee
Retirement Commission;
C. Make actuarial report information available to the plan members;
D. Annually, determine and submit to the Borough Council the financial
requirements of the pension plan and minimum municipal obligation;
and
E. Provide the Borough Council with a cost estimate of the effect of
any proposed benefit plan modification.