(a) The Borough Council desires to continue the Police Pension Fund permanently, but must necessarily reserve the right to change, modify or discontinue it. Any change in the Fund will not affect the values that have been accumulated for each participant prior to the date of the change. If the Fund is ever terminated, the participants who have retired under its provisions will be entitled to first claim of the assets of the Trust Fund, and any balance of the assets will be distributed among all other participant's according to a formula to be developed by the Police Pension Committee and approved by the Borough Council.
(b) No person participating in the Fund established pursuant to the provisions of this chapter who becomes entitled to receive a benefit therefrom shall be deprived of his or her right to an equal share therein upon the basis upon which he or she first became entitled thereto.
(Ord. 825. Passed 10-9-84.)