287.005 Effective date.
287.01 Definitions.
287.02 Eligibility.
287.03 Contributions.
287.04 Benefits.
287.05 Retirement eligibility.
287.06 Retirement benefits.
287.07 Death benefits.
287.08 Termination of service before retirement/direct rollover of distributions.
287.09 The Pension Fund.
287.10 Amendment, termination and return of employer contributions.
287.11 Miscellaneous.
287.12 Applicable provisions of the Internal Revenue Code.
PREAMBLE
This Addendum to the City of Sharon Police Pension Plan shall apply to all police officers hired on or after January 1, 2008, and subject to any changes to pension benefits made through collective bargaining, shall be exclusive document for determining pension benefits for those officers. The pension benefits of members hired before January 1, 2008, subject to any changes to pension benefits which may be made through collective bargaining, shall be determined according to the City of Sharon Police Pension Plan (exclusive of the Addendum). The Addendum shall have no effect on the pension benefits of retired police officers and/or officers hired before January 1, 2008. It is the City's intent that this Addendum shall be established and maintained (i) in accordance with all applicable laws of the Commonwealth of Pennsylvania; and (ii) as a qualified plan under the provisions as applicable to governmental plans. The applicable Internal Revenue Code provisions may be amended as and when necessary by the City to meet Code requirements of a governmental plan.