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§ 42004.2. Employes of certain water authorities

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 53 P.S. Municipal and Quasi-Municipal CorporationsEffective: January 25, 2016

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 53 P.S. Municipal and Quasi-Municipal Corporations
Part V. Cities of the Third Class (Refs & Annos)
Chapter 84. Optional Retirement System for Officers and Employes (Refs & Annos)
Effective: January 25, 2016
53 P.S. § 42004.2
Formerly cited as PA ST 53 P.S. § 39374.2
§ 42004.2. Employes of certain water authorities
Currentness
(a)(1) An employe of a water authority created by a city that commenced operations after September 30, 1991, who satisfies the requirements of clause (2), may file a written election with the board and the water authority to remain a member of the retirement system established pursuant to this act. The qualified employe shall file the written election within one (1) year after the effective date of this section or within one (1) year after becoming an employe of the water authority, whichever is later.
(2) In order to qualify for the option under clause (1), an employe must satisfy both of the following requirements when becoming an employe of the water authority:
(i) be an employe of the city that established the water authority; and
(ii) be an active member of the city's retirement system established pursuant to this act.
(3) For any employe who files an election under clause (1), the affected water authority shall:
(i) deduct from the employe's salary an amount equal to the employe contribution that would have been deducted had the employe continued to be a city employe and shall pay the deducted amount to the fund; and
(ii) pay to the 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 city pursuant to the act of December 18, 1984 (P.L. 1005, No. 205), known as the “Municipal Pension Plan Funding Standard and Recovery Act,”1 and applied to the payroll of the employe.
(b) All employes who elect to remain in the retirement system shall be treated as city employes in determining the city's annual allocation of general municipal pension system State aid pursuant to section 402(e)2 of the “Municipal Pension Plan Funding Standard and Recovery Act.”

Credits

1945, May 23, P.L. 903, No. 362, added 1992, June 11, P.L. 297, No. 49, § 3, effective in 60 days.

Footnotes

1
53 P.S. § 895.101 et. seq.
2
53 P.S. § 895.402(e).
53 P.S. § 42004.2, PA ST 53 P.S. § 42004.2
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document