Part 1
New Officers and Employees Pension Fund
New Officers and Employees Pension Fund
§ 62-101. Purpose.
§ 62-102. Definitions.
§ 62-103. Trust provisions.
§ 62-104. Normal retirement.
§ 62-105. Basic benefit.
§ 62-106. Service increment.
§ 62-107. Early retirement.
§ 62-108. Accrued pension.
§ 62-109. Disability benefits.
§ 62-110. Survivor benefits.
§ 62-111. Vesting.
§ 62-112. Member contributions.
§ 62-113. Refund of contribution or rollover.
§ 62-114. Maximum permissible benefits and contributions – Code Section 415.
§ 62-115. Required minimum distributions – Code Section 401(a)(9).
§ 62-116. Direct rollovers.
§ 62-117. Miscellaneous.
Part 2
Officers and Employees Retirement System
Officers and Employees Retirement System
§ 62-201. Definitions.
§ 62-202. System created.
§ 62-203. Officers and Employees Retirement Board.
§ 62-204. Fund created; receipt of contributions; payment from and investment of fund.
§ 62-205. Employment statement.
§ 62-206. Right to and amount of pension benefits.
§ 62-207. Disability benefits.
§ 62-208. Member contributions.
§ 62-209. Additional payments to extend benefits.
§ 62-210. Termination prior to benefit entitlement.
§ 62-211. Refunds.
§ 62-212. Council contributions.
§ 62-213. Benefits.
§ 62-214. Time of service.
§ 62-215. Military service.
§ 62-216. Payment only to beneficiary.
§ 62-217. Method of payment.
§ 62-218. Service increment.
§ 62-219. Federal income tax exemption of employee contribution to fund.
§ 62-220. Direct rollovers.
§ 62-221. Maximum permissible benefits and contributions – Code Section 415.
§ 62-222. Required minimum distributions – Code Section 401(a)(9).
§ 62-223. Miscellaneous.
Part 3
Firemen's Pension Fund
Firemen's Pension Fund
§ 62-301. Definitions.
§ 62-302. Board of Managers created.
§ 62-303. Board of Managers; members, term and vacancy.
§ 62-304. Board officers.
§ 62-305. Surety bond of Treasurer.
§ 62-306. Board expenses.
§ 62-307. Board compensation.
§ 62-308. Fund created; receipt of contributions; payment from and investment of fund.
§ 62-309. Fund sources.
§ 62-310. Gifts and grants.
§ 62-311. Reward proceeds.
§ 62-312. DiLauro interest arbitration.
§ 62-313. Member contributions; increase.
§ 62-314. City contributions.
§ 62-315. Board rewards, rules and meetings.
§ 62-316. Board to request budget funds from Council.
§ 62-317. Board voting and decisions.
§ 62-318. Board to issue payment certificates.
§ 62-319. Employment termination prior to pension entitlement.
§ 62-320. Entitlement to benefits.
§ 62-321. Member right to and amount of benefits; service increment contributions.
§ 62-322. Benefits to be uniform; widows and children of members.
§ 62-323. Disability benefits.
§ 62-324. Deferred Retirement Option Program (DROP).
§ 62-325. Application.
§ 62-326. Contribution payment to estate.
§ 62-327. Pension investment account.
§ 62-328. Exemption from attachment or execution; nonassignability.
§ 62-329. Effective date.
§ 62-330. Direct rollovers.
§ 62-331. Maximum permissible benefits and contributions – Code Section 415.
§ 62-332. Required minimum distributions – Code Section 401(a)(9).
§ 62-333. Miscellaneous.
Part 4
Police Pension Fund
Police Pension Fund
§ 62-401. Definitions.
§ 62-402. Police Pension Fund Association.
§ 62-403. Duties of Finance Director.
§ 62-404. Contributions to fund.
§ 62-405. Right of members to pension benefits and amount of pension benefits.
§ 62-406. Right to refund of contribution in lieu of receipt of pension benefit.
§ 62-407. Termination of employment of members prior to being entitled to pension benefits.
§ 62-408. Permanent disability pension.
§ 62-409. Widow or widowers and children of members.
§ 62-410. Computation of time of service.
§ 62-411. Receipt of contributions; payment from and investment of fund.
§ 62-412. Exemption from attachment or execution; nonassignability.
§ 62-413. Payment to estate.
§ 62-414. Military service.
§ 62-415. Police service.
§ 62-416. Increases in allowances following retirement.
§ 62-417. Deferred Retirement Option Program (DROP).
§ 62-418. Direct rollovers.
§ 62-419. Maximum permissible benefits and contributions – Code Section 415.
§ 62-420. Required minimum distributions – Code Section 401(a)(9).
§ 62-421. Miscellaneous.
Part 5
Aggregated Pension Trust Fund
Aggregated Pension Trust Fund
§ 62-501. Establishment; funds transferred.
§ 62-502. Board of Trustees.
§ 62-503. Composition of Board of Trustees.
§ 62-504. Officers of the Board.
§ 62-505. Board members from active membership of existing pension plans.
§ 62-506. Legal title to assets.
§ 62-507. Investment of assets.
§ 62-508. Actuarial valuation, auditing and basis of accounting of pension funds assets.
§ 62-509. Transfer of responsibility for investment, accounting, auditing and administration to the Board of Trustees.
Part 6
Officers and Employees Defined Contribution Plan
Officers and Employees Defined Contribution Plan
§ 62-601. Officers and Employees Defined Contribution Plan.
[HISTORY: Adopted by the City Council of the City of Reading as indicated in part histories. Amendments noted where applicable.]
GENERAL REFERENCES
Personnel — See Ch. 70.
Salaries and compensation — See Ch. 91.
STATE LAW REFERENCES
Pensions for employees other than police officers and city-paid firefighters - See 11 Pa.C.S. §§ 14339 et seq.
Coverage of persons under Social Security - See 65 P.S. § 201 et seq.
Firemen's Pension Fund - See 11 Pa.C.S. §§ 14319 et seq.
Police Pension Fund - See 11 Pa. C.S. §§ 14300 et seq.