PRINTER'S NO. 1446
No. 1224 Session of 1977
INTRODUCED BY POTT, CAPUTO, KNEPPER, PARKER, YAHNER, HELFRICK,
ZEARFOSS, NOYE, HOPKINS, VROON AND FISCHER, JUNE 6, 1977
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, JUNE 6, 1977
AN ACT
1 Providing for funding of municipal pension and retirement funds.
2 The General Assembly of the Commonwealth of Pennsylvania
3 hereby enacts as follows:
4 Section 1. All municipal pension and retirement funds shall
5 be subject to the same funding requirements of private pension
6 or retirement funds.
7 Section 2. Total contributions to municipal pension and
8 retirement funds shall be an amount necessary to pay current
9 obligations plus an additional amount of not less than 2 1/2%
10 but not more than 10% of any unfunded past service liability.
11 Section 3. This act shall take effect January 1, 1978.
D21L43RC/19770H1224B1446