Bill Information

An Act amending the act of December 18, 1984 (P. L. 1005, No. 205), entitled "Municipal Pension Plan Funding Standard and Recovery Act," providing for certain additions to the actuarial valuation reports of municipalities that have issued bonds or notes to fund an unfunded actuarial accrued liability, for the determination of general municipal pension system State aid and supplemental State assistance allocable to the municipalities and for the application of State aid or assistance or both to the payment of debt service on bonds or notes issued by municipalities to fund an unfunded actuarial accrued liability; authorizing the pledge of State aid or assistance or both as security for bonds or notes; and authorizing the payment of State aid or assistance to the trustee or paying agent for bonds or notes in certain circumstances.