[Adopted 10-14-2003 by Ord. No. 03-08, approved 10-14-2003[1]]
[1]
Editor's Note: This ordinance also repealed former Art. I,
Membership in Pennsylvania Municipal Retirement System, adopted 2-11-2003
by Ord. No. 03-01, approved 2-11-2003.
The Borough of West Conshohocken, Montgomery County, Pennsylvania,
hereby elects to withdraw the Municipal Employees Pension Plan from
the Pennsylvania Municipal Retirement System effective the first day
of the month following approval of the withdrawal by the Pennsylvania
Municipal Retirement Board on or about December 1, 2003.
All assets and liabilities, including but not limited to the
member accounts, municipal account and retired member reserve accounts,
presently maintained by the Pennsylvania Municipal Retirement System
shall be returned to the Borough of West Conshohocken as soon as practical.
The Borough of West Conshohocken hereby certifies that an affirmative
vote to withdraw from the plan has been obtained from at least 75%
of all active, vested, and retired members of the plan.
The Borough of West Conshohocken assumes all liabilities for
all active, vested, and retired members effective the first day of
the month following approval of the withdrawal by the Pennsylvania
Municipal Retirement Board on or about December 1, 2003.
