§ 1-421. Establishment of Pension Plan.

   1.   The Borough of Troy hereby establishes a nonuniformed employees pension plan for certain of its employees not already covered by other municipal pension or retirement plans.

   2.   The Borough of Troy hereby approves a Money Purchase Plan Joinder Agreement, with accompanying Chapters I and IV of the Master Plan and Trust 1 , and all other terms of the Pennsylvania State Association of Borough’s Master Plan and Trust, for implementation of said pension, with an exact copy of said Money Purchase Plan Joinder Agreement, with accompanying Chapter I and IV of the Master Plan and Trust, being attached hereto as Exhibit “1-A.” 1

   3.   The appropriate officers of the Borough of Troy are hereby authorized and directed to execute said Money Purchase Plan Joinder Agreement, with accompanying Chapters I and IV of the Master Plan and Trust, which Agreement shall be identical in form and content to attached Exhibit “1-A”1 hereto.

   4.   The Money Purchase Plan Joinder Agreement, with accompanying Chapters I and IV of the Master Plan and Trust, attached as Exhibit “1-A” 1 hereto and the terms of the Pennsylvania State Association of Boroughs Master Plan and Trust shall be known hereafter as the Borough of Troy Nonuniformed Employees Pension Plan (the “Plan”).

   5.   The Borough of Troy further authorizes the Board of Trustees of the Pennsylvania State Association of Boroughs Master Plan and Trust to be the designated Trustee for the Plan and that all contributions shall be held and invested by such Trustee in accordance with the terms of the Plan.

   6.   The Money Purchase Plan Joinder Agreement, with accompanying Chapters I and IV of the Pennsylvania State Association of Boroughs Master Plan and Trust and the Borough of Troy’s participation in the Master Plan and Trust shall be effective as of January 1, 1996.

(Ord. 96-4, 12/16/1996; as amended by Ord. 00-4, 12/29/2000, § I; and by Ord. 01-3, 11/14/2001)

 

Notes

1	Editor’s Note: The Money Purchase Plan Joinder Agreement with accompanying Chapters I and IV of the Master Plan and Trust are on file at the Borough office.
1	1Editor’s Note: The Money Purchase Plan Joinder Agreement with accompanying Chapters I and IV of the Master Plan and Trust are on file at the Borough office.
1	Editor’s Note: The Money Purchase Plan Joinder Agreement with accompanying Chapters I and IV of the Master Plan and Trust are on file at the Borough office.