PRINTER'S NO. 2418
No. 1961 Session of 1995
INTRODUCED BY ROBERTS, BELARDI, TRELLO, M. COHEN AND STERN,
JULY 25, 1995
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, JULY 25, 1995
AN ACT
1 Amending the act of December 18, 1984 (P.L.1005, No.205),
2 entitled "An act mandating actuarial funding standards for
3 all municipal pension systems; establishing a recovery
4 program for municipal pension systems determined to be
5 financially distressed; providing for the distribution of the
6 tax on the premiums of foreign fire insurance companies; and
7 making repeals," further providing for computation of pension
8 benefits.
9 The General Assembly of the Commonwealth of Pennsylvania
10 hereby enacts as follows:
11 Section 1. The act of December 18, 1984 (P.L.1005, No.205),
12 known as the Municipal Pension Plan Funding Standard and
13 Recovery Act, is amended by adding a section to read:
14 Section 209. Pension benefit.
15 A municipality which has established or maintains a pension
16 plan for its employees may in its sole discretion provide for a
17 monthly pension or retirement benefit up to 75% of the monthly
18 average salary of the member during not more than the last 60 or
19 less than the last 36 months of employment if the monthly
20 pension or retirement benefit would not impair the actuarial
1 soundness of the pension fund.
2 Section 2. This act shall take effect in 60 days.
C22L53PJP/19950H1961B2418 - 2 -