ACCRUED BENEFIT - as of any given date, the benefit determined under § 419(2), multiplied by a fraction, the numerator of which shall be the participant's aggregate service determined as of such date and the denominator of which shall be the aggregate service which would be credited to the participant as of his normal retirement date if he were to continue to be employed as a full-time police officer with the employer until such date.
ACCUMULATED CONTRIBUTIONS - the total amount contributed by any participant to this trust or its predecessor by way of payroll deduction or otherwise, plus interest credited thereon at the rate specified in Part I-1 of the Joinder [Part 1B].
ACTUARY - the person, partnership, association or corporation which at any given time is serving as actuary; provided that, such actuary must be an "approved actuary" as defined in the Act.
AGGREGATE SERVICE - the total period or periods of the participant's employment with the employer whether or not interrupted, which shall include voluntary or involuntary service with the armed forces of the United States of America, if preceded, by a period of at least 6 months of employment as a regularly appointed member of the employer's police force; provided, that should any such participant fail to return to work with the employer's police force within 6 months following his discharge from military service or such other period in which his employment rights are guaranteed by law if longer, the term of his military service shall not be included in his aggregate service; provided further, that should any such participant after any period of employment, withdraw his accumulated contributions, with respect to said period, such period of employment shall not be included in his aggregate service thereafter unless, at the commencement of his next period of employment, he repays to the trust the amount of such withdrawal with interest.
BASIC MONTHLY EARNINGS - the total compensation of the employee, whether salary or hourly wages, including overtime pay, holiday pay, longevity and any other form of compensation paid by the employer for police services rendered.
BOARD - the governing body of the employer.
DISABILITY RETIREMENT DATE - the date when a participant is determined by the Administrator to be incapacitated due to "total and permanent disability," or the date when the participant's employment terminates due to such total and permanent disability, if later; provided, however, this Section shall be of no effect unless the Joinder Agreement provides for a disability benefit in Part VI-1 thereof.
EMPLOYEE - any regular police officer employed by the employer on a full-time basis. Any conditions or restrictions applicable to such tell.'" shall be set forth in Part I-2 of the Joinder.
EMPLOYER - the municipality (or association of municipalities cooperating pursuant to the Intergovernmental Cooperation Law) named in Part 1-3 of the Joinder.
FINAL MONTHLY AVERAGE SALARY - the average monthly salary earned by the participant and paid by the employer during the final months immediately preceding retirement which are included in the averaging period and the salary used for computing such amount. The number of months included in the averaging period shall be set forth in Part 1-4 of the Joinder.
INSURER or INSURANCE COMPANY - a legal reserve life insurance company which shall issue a policy or contract under this plan.
NORMAL RETIREMENT DATE - the earliest date upon which the participant is entitled to a normal retirement benefit, as defined under § 419(1).
PARTICIPANT - an employee who has met the eligibility requirements to participate in the plan as provided in § 417(1), and who has not for any reason ceased to be a participant hereunder.
PLAN - the plan set forth herein, in conjunction with the terms contained in the Joinder Agreement which is adopted by the employer. The name of the plan shall be specified in Part 1-5 of the Joinder.
PLAN YEAR - the calendar year or such other period as may be specified in Part 1-6 of the Joinder.
POLICY or CONTRACT - a retirement annuity or retirement income endowment policy (or a combination of both), or any other form of insurance contract or policy which shall be deemed appropriate in accordance with the provisions of the Act and P.L. 1804, as amended (53 P.S. § 767).
TOTAL AND PERMANENT DISABILITY - a physical or mental condition of a participant which has rendered the participant incapacitated (as defined in Part VI-1 of the Joinder). Certification of such condition shall be made by the Administrator in accordance with uniform principles consistently applied, upon the basis of such competent medical evidence as the Administrator deems necessary and desirable, or alternatively, the employer may require certification that the participant is eligible for Social Security benefits as proof of total and permanent disability hereunder; provided, that such requirements shall be applied to all participants on a consistent and nondiscriminatory basis. Notwithstanding the preceding, total and permanent disability shall not include injuries which are willfully self-inflicted, or are due to alcoholism or addiction to narcotics or injuries sustained in the perpetration of any felonious criminal activity.
(Ord. 253, 2/3/1997, Master Trust Document, Art. I)