[HISTORY: Adopted by the Board of Supervisors of the Township
of Barrett as indicated in article histories. Amendments noted where
applicable.]
[Adopted 7-28-2015 by Ord. No. 183]
The Township hereby elects to withdraw its Police Pension Plan
from the PMRS, effective November 1, 2015.
All assets and liabilities, including but not limited to member
accounts, municipal accounts, and retired members reserve accounts,
presently maintained by the PMRS shall be returned to the Township,
or its authorized designee, as soon as practicable.
The Township hereby certifies that an affirmative vote to withdraw
its plan from the PMRS has been obtained from at least 75% of all
active members, inactive members, vested members, and retired members
of the plan.
The Township assumes all liabilities for all active members,
inactive members, vested members, and retired members, and any beneficiary
of any active member, inactive member, vested member, and retired
member, effective the first day of November, 2015.
All ordinances inconsistent with this article are hereby repealed.
This article shall become effective immediately.
[Any additional legislation containing provisions regarding
pensions is on file in the Township offices.]
