The Supervisors shall administer the Plan established herein pursuant to such regulations as shall from time to time be necessary for the effective maintenance of the Plan; provided that no regulation shall be contrary to the statutes of the Commonwealth of Pennsylvania and/or applicable federal regulations.
A.
The Supervisors shall be empowered to appoint and remove the Trustee and the Administrator from time to time as they deem necessary for the proper administration of the Plan to assure that the Plan is being operated for the exclusive benefit of the Participants and their Beneficiaries in accordance with the terms of the Plan, the Code, and the Act.
B.
The Supervisors shall establish an "investment policy," i.e., they shall determine whether the Plan has a short run need for liquidity (e.g., to pay benefits) or whether liquidity is a long run goal and investment growth (and stability of same) is a more current need, or shall appoint a qualified person to do so. The Township or its delegate shall communicate such needs and goals to the Trustee, who shall coordinate such Plan needs with its investment policy. The communication of such an investment policy shall not, however, constitute a directive to the Trustee as to investment of the Trust Funds. Such investment policy shall be consistent with the objectives of this Plan.
C.
The Supervisors may in their discretion appoint an Investment Manager to manage all or designated portion of the assets of the Plan. In such event, the Trustee shall follow the directive of the Investment Manager in investing the assets of the Plan managed by the Investment Manager.
D.
The Supervisors shall periodically review the performance of any Fiduciary or other person to whom duties have been delegated or allocated by them under the provisions of the Plan or pursuant to procedures established hereunder. This requirement may be satisfied by formal periodic review by the Township or by a qualified person specifically designated by the Township, through day-to-day conduct and evaluation, or through other appropriate ways.
A.
The Township may appoint a Retirement Plan Committee or an Individual to serve as Plan Administrator (or otherwise designated as "Administrator"). Municipal officials may delegate the authority to administer municipal pension plans to such committee or individual, but responsibility for the Plan's solvency and proper management cannot be delegated. Whether municipal officials administer the plan directly or delegate that authority, all plan officials must legally accept responsibility to act in a fiduciary capacity. The fiduciary role extends to all individuals who administer, manage or provide advice to the plan under contractual agreement.
B.
The Retirement Plan Committee members may be removed by the Township (with or without cause) at any time. The Township, upon the resignation or removal of a Retirement Plan Committee member or individual Administrator, shall designate in writing a successor to this position.
A.
The primary responsibility of the Plan Administrator is to administer the Plan for the exclusive benefit of the Participants and their Beneficiaries, subject to the specific terms of the Plan. The Administrator shall administer the Plan in accordance with its terms and shall have the power to determine all questions arising in connection with the administration, interpretation, and application of the Plan. Any such determination by the Administrator shall be conclusive and binding upon all persons. The Administrator may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the Plan; provided, however, that any procedure, discretionary act, interpretation or construction shall be done in a nondiscriminatory manner based upon uniform principles consistently applied. The Administrator shall have all powers necessary or appropriate to accomplish his duties under this Plan.
B.
The Administrator shall be charged with the duties of the general administration of the Plan, including but not limited to the following:
(1)
To determine all questions relating to the eligibility of Employees to participate or remain a Participant hereunder;
(2)
To compute, certify, and direct the Trustee, if any, with respect to the amount and the kind of benefits to which any Participant shall be entitled hereunder;
(3)
To authorize and direct the Trustee with respect to all nondiscretionary or otherwise directed disbursements from the Trust;
(4)
To maintain all necessary records for the administration of the Plan;
(5)
To interpret the provisions of the Plan and to make and publish such rules for regulation of the Plan as are consistent with the terms hereof;
(6)
To determine the size and type of any contract to be purchased from any insurer and to designate the insurer from which such contract shall be purchased;
(7)
To compute and certify to the Township and to the Trustee from time to time the sums of money necessary or desirable to be contributed to the Trust Fund;
(8)
To consult with the Township and the Trustee regarding the short- and long-term liquidity needs of the Plan in order that the Trustee can exercise any investment discretion in a manner designed to accomplish specific objectives;
(9)
To prepare and distribute to Employees a procedure for notifying Participants and Beneficiaries of their rights to elect joint and survivor annuities and Pre-Retirement Survivor Annuities as required by the Act and Regulations thereunder;
(10)
To assist any Participant regarding his rights, benefits, or elections available under the Plan.
The Administrator shall keep a record of all actions taken and shall keep all other books of account, records, and other data that may be necessary for proper administration of the Plan and shall be responsible for supplying all information and reports to the Commonwealth, Internal Revenue Service, Department of Labor, Participants, Beneficiaries and others as required by law.
The Plan Administrator, or the Trustee with the consent of the Plan Administrator, may appoint counsel, specialists, advisers, and other persons as the Plan Administrator or the Trustee deems necessary or desirable in connection with the administration of this Plan.
To enable the Administrator to perform his functions, the Township shall supply full and timely information to the Administrator on all matters relating to the Compensation of all Participants, their Hours of Service, their Years of Service, their retirement, death, disability, or termination of employment, and such other pertinent facts as the Administrator may require; and the Administrator shall advise the Trustee of such of the foregoing facts as may be pertinent to the Trustee's duties under the Plan. The Administrator may rely upon such information as is supplied by the Township and shall have no duty or responsibility to verify such information.
All expenses of administration may be paid out of the Plan funds unless paid by the Township. Such expenses shall include any expenses incident to the functioning of the Administrator, including, but not limited to, actuaries, consultants, accountants, counsel, and other specialists and their agents, and other costs of administering the Plan, provided that no such payment shall be contrary to the statutes of the Commonwealth of Pennsylvania. Until paid, the expenses shall constitute a liability of the Plan. However, the Township may reimburse the Plan for any administration expense incurred. Any administration expense paid to the Plan as a reimbursement shall not be considered an Employer contribution.
Except where there has been an allocation and delegation of administrative authority pursuant to § 58-6, if there shall be more than one Administrator, they shall act by a majority of their number, but may authorize one or more of them to sign all papers on their behalf.
Claims for benefits under the Plan may be filed with the Administrator on forms supplied by the Township. Written notice of the disposition of a claim shall be furnished to the claimant within 90 days after the application is filed. In the event the claim is denied, the reasons for the denial shall be specifically set forth in the notice in language calculated to be understood by the claimant, pertinent provisions of the Plan shall be cited, and, where appropriate, an explanation as to how the claimant can perfect the claim will be provided. In addition, the claimant shall be furnished with an explanation of the Plan's claims review procedure.
Any Employee, former Employee, or Beneficiary of either who has been denied a benefit by a decision of the Administrator pursuant to § 58-13 shall be entitled to request the Administrator to give further consideration to his claim by filing with the Administrator (on a form which may be obtained from the Administrator) a request for a hearing. Such request, together with a written statement of the reasons why the claimant believes his claim should be allowed, shall be filed with the Administrator no later than 60 days after receipt of the written notification provided for in § 58-13. The Administrator (or its designee) shall then conduct a hearing within the next 60 days, at which the claimant may be represented by an attorney or any other representative of his choosing and at which the claimant shall have an opportunity to submit written and oral evidence and arguments in support of his claim. At the hearing (or prior thereto upon five business days' written notice to the Administrator) the claimant or his representative shall have an opportunity to review all documents in the possession of the Administrator which are pertinent to the claim at issue and its disallowance. Either the claimant or the Administrator (or its designee) may cause a court reporter to attend the hearing and record the proceedings. In such event, a complete written transcript of the proceedings shall be furnished to both parties by the court reporter. The full expense of any such court reporter and such transcripts shall be borne by the party causing the court reporter to attend the hearing. A final decision as to the allowance of the claim shall be made by the Administrator (or its designee) within 60 days of receipt of the appeal (unless there has been an extension of 60 days due to special circumstances, provided the delay and the special circumstances occasioning it are communicated to the claimant within the 60-day period). Such communication shall be written in a manner calculated to be understood by the claimant and shall include specific reasons for the decision and specific references to the pertinent Plan provisions on which the decision is based.
The claimant shall have the right to appeal the decision of the Board pursuant to the Local Agency Law, 2 Pa.C.S.A. § 101. If not so appealed, the decision shall be final, conclusive and binding on all parties.
Except as otherwise provided by law or regulation, the Plan Administrator may use electronic media rather than paper in order to administer the Plan.