Ordinance No. 165 establishing and regulating a Police Pension Fund in said Township, and Ordinance Nos. 199, 291, 322, 331, 335, 341, 399, 406, 422, 423, 456 and 543 amending said Ordinance No. 165, and as set forth in the Code of the Township of Upper Allen Chapter
55, Article
II, entitled "Police Pension Fund," are repealed, and restated, effective as of January 1, 2001, as hereinafter set forth.
The Board of Commissioners of Upper Allen Township
hereby does approve, adopt and establish the Upper Allen Township
Police Pension Plan, as restated and amended, and as set forth fully
in document named "Upper Allen Township Police Pension Plan," a copy
of which is attached hereto and marked as Exhibit A.
The Board of Commissioners of Upper Allen Township has
established a Pension Committee which shall be responsible for the
administration of the plan. The members of the Pension Committee shall
be designated as such by the Board of Commissioners by resolution
duly enacted from time to time. Capital Bank and Trust Company is
the currently designated trustee of the plan, and the designation
of the trustee shall be designated as such by the Board of Commissioners
by resolution enacted from time to time. The Township Manager shall
act as the chief administrative officer of the plan. The Pension Committee
shall act as the administrative named fiduciary and investment named
fiduciary for the purposes set forth as such in the plan's trust agreement
with the trustee.
The President or Vice President and Secretary
of the Board of Commissioners of Upper Allen Township be and they
hereby are authorized and directed to execute the plan documents,
including the trust agreement.
[Added 2-20-2003 by Ord. No. 569]
A. The special ad hoc post-retirement adjustment to retirees
who began receiving benefits before January 1, 1996, is provided.
B. The eligibility and amount of such adjustment shall
be in accordance with Act 64 of 2002, and that such adjustment shall
be effective with the first monthly pension payment benefit paid after
30 June 2002.