§ 1105.1. Retirement benefits of employees transferred to authorities
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 8 Pa.C.S.A. Boroughs and Incorporated TownsEffective: June 17, 2014
Effective: June 17, 2014
8 Pa.C.S.A. § 1105.1
Formerly cited as PA ST 53 P.S. § 46105.1
§ 1105.1. Retirement benefits of employees transferred to authorities
(1) An employee of a wastewater authority created by a borough and one or more townships under 53 Pa.C.S. Ch. 56 (relating to municipal authorities) that commenced operations after December 1, 2001, who satisfies the requirements of subsection (b), has past service credits under the borough retirement plan and has filed a written election to be a member of the borough retirement system with council and the wastewater authority prior to September 14, 2005.
(2) An employee of a municipal authority created by a borough under 53 Pa.C.S. Ch. 56 that commenced operations after October 4, 2010, who satisfies the requirements of subsection (b), has past service credits under the borough retirement plan and files a written election with the council and the authority to be a member of the borough retirement system within one year of July 16, 2012.
(ii) Pay to the borough's retirement fund an employer contribution equal to the employer normal cost plus anticipated administrative expenses and amortization payments less general municipal pension system State aid expressed as a percentage of the system's total payroll as calculated by the borough under the act of December 18, 1984 (P.L. 1005, No. 205),1 known as the Municipal Pension Plan Funding Standard and Recovery Act, and applied to the payroll of the employee.
(c) State aid calculation.--All employees who elect to be members of the borough retirement system under this section shall be treated as borough employees in determining the borough's annual allocation of general municipal pension system State aid under section 402(e) of the Municipal Pension Plan Funding Standard and Recovery Act,2 and the annual allocation of general municipal pension system State aid under section 402(e) of the Municipal Pension Plan Funding Standard and Recovery Act shall be payable to the borough.
Credits
2014, April 18, P.L. 432, No. 37, § 1, effective in 60 days [June 17, 2014].
8 Pa.C.S.A. § 1105.1, PA ST 8 Pa.C.S.A. § 1105.1
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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