[Adopted 2-10-2021 by Ord. No. 5730]
Easton City (the City), having established a nonuniform pension
plan administered by the Pennsylvania Municipal Retirement System
(the System), hereby elects to amend the Pennsylvania Municipal Retirement
Law, 53 P.S. § 881.101 et seq. (Retirement Law), and does
hereby agree to be bound by all the requirements and provisions of
the Retirement Law and the Municipal Pension Plan Funding Standard
and Recovery Act, 53 P.S. § 895.101 et seq., and to assume
all obligations, financial and otherwise, placed upon member municipalities.
As part of this article, the City agrees that the System shall
administer and provide the benefits set forth in the amended Nonuniform
Pension Plan document entered into between the Pennsylvania Municipal
Retirement Board and the City effective as of the date specified in
the adoption agreement (the contract).
The City acknowledges that by passage and adoption of this article,
the City officially accepts the contract and the financial obligations
resulting from the administration of the contract.
Payment for any obligation established by the adoption of this
article and the contract shall be made by the City in accordance with
the Retirement Law and the Municipal Pension Plan Funding Standard
and Recovery Act. The City hereby assumes all liability for any unfundedness
created due to the benefit structure set forth in the contract.
The City intends this article to be the complete authorization
of the contract, as amended, and it shall become effective as of the
date specified in the adoption agreement, which is the effective date
of the contract, as amended.
A duly certified copy of this article and an executed contract
shall be filed with the System.
This article shall take effect 30 days following adoption by
Council.
