§ 1131. Police pension fund
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 8 Pa.C.S.A. Boroughs and Incorporated TownsEffective: June 17, 2014
Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 8 Pa.C.S.A. Boroughs and Incorporated Towns
Part I. Boroughs (Refs & Annos)
Chapter 11. Powers, Duties and Rights of Appointed Officers and Employees
Subchapter F. Police Pension Fund in Boroughs Having Police Force of Less than Three Members
Effective: June 17, 2014
8 Pa.C.S.A. § 1131
Formerly cited as PA ST 53 P.S. § 46131
§ 1131. Police pension fund
(a) Authorization to establish.--If a police force of less than three full-time members is being maintained, the borough may, unless there is a private organization or association constituting and managing an existing pension fund for the members of the police force in the borough, by ordinance, establish a police pension fund into which each member of the police force shall pay an equal and proportionate monthly charge to be withheld from the pay of the member.
(b) Investment and insurance instruments as alternative.--In lieu of establishing a pension fund in accordance with subsection (a), the borough may, by ordinance, provide investment or insurance instruments for the purpose of the payment of pensions or annuities to the members of the police force who receive honorable discharge by reason of age or disability and to the families of police officers injured or killed in service.
(1) All pension funds or investment or insurance instruments established under this section shall be under the direction of the council, or a committee as it may designate, and shall be applied under regulations as the council may, by ordinance, prescribe for the benefit of the members of the police force who receive honorable discharge by reason of age or disability and the families of police officers injured or killed in service.
(f) Funding.--A borough establishing a police pension fund by ordinance under this section shall provide from any available borough revenue source funding of the police pension fund in an amount sufficient to meet the minimum obligation of the borough with respect to the police pension fund under the act of December 18, 1984 (P.L. 1005, No. 205),1 known as the Municipal Pension Plan Funding Standard and Recovery Act.
(2) The care, management, investment and disposal of the trust funds or property shall be vested in the officers as the borough shall direct by ordinance and shall be governed by the officers, subject to any directions not inconsistent with the ordinance as the donors of the funds and property may prescribe.
(h) Right to equal and proportionate share.--No person participating in the police pension fund and becoming entitled to receive a benefit from the fund may be deprived of the person's right to an equal and proportionate share of the fund upon the basis upon which the person first became entitled to the benefit.
(i) Applicable law.--The act of May 29, 1956 (1955 P.L. 1804, No. 600),2 referred to as the Municipal Police Pension Law, or the act of February 1, 1974 (P.L. 34, No. 15),3 known as the Pennsylvania Municipal Retirement Law, shall govern any borough police pension fund not established under the provisions of this section.
Credits
2014, April 18, P.L. 432, No. 37, § 1, effective in 60 days [June 17, 2014].
8 Pa.C.S.A. § 1131, PA ST 8 Pa.C.S.A. § 1131
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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