NOTICE: Proposed PMRS Cash Balance Plan Ordinance

NOTICE 

Notice is hereby given by the Board of Supervisors of North Newton Township, Cumberland County, Pennsylvania, of its intention to consider for adoption and to vote upon the following proposed Ordinance at a regular public meeting to be held Tuesday, March 5, 2019 at 6:30 p.m. at the Township Community Room, 528 Oakville Road, Shippensburg, PA.

In the event action is not taken at the aforesaid time, the Board may take action and vote upon said ordinance at another public meeting not less than seven (7) nor more than sixty (60) days following the publication of this notice. Due to the length of the Ordinance, the entire text is not set forth herein. The Ordinance may be reviewed in its entirety at the Municipal Office, 528 Oakville Road, Shippensburg, PA or by clicking here.

A summary of the principal provisions of the ordinance follows:

AN ORDINANCE OF THE BOARD OF SUPERVISORS OF NORTH NEWTON TOWNSHIP, CUMBERLAND COUNTY, PENNSYLVANIA, ELECTING TO ESTABLISH A MUNICIPAL PENSION PLAN TO BE ADMINISTERED BY THE PENNSYLVANIA MUNICIPAL RETIREMENT SYSTEM PURSUANT TO ARTICLE IV OF THE PENNSYLVANIA MUNICIPAL RETIREMENT LAW; AGREEING TO BE BOUND BY ALL PROVISIONS OF THE PENNSYLVANIA MUNICIPAL RETIREMENT LAW AS AMENDED AND AS APPLICABLE TO MEMBER MUNICIPALITIES.

The purpose of this Ordinance is to authorize membership in the Pennsylvania Municipal Retirement System (PMRS) and establish a Municipal Pension Plan to be administered by PMRS as the North Newton Township Non-Uniform Cash Balance Plan. The Ordinance is official acceptance of the provisions of the PMRS Base Plan Document and associated Adoption Agreement and financial obligations resulting from the administration of the Plan. The Adoption Agreement is incorporated into the Ordinance as Exhibit A. The Ordinance also provides sections addressing Repealer, Savings Clause, Severability and Effective Date.

Bonnie L. Myers
Township Secretary

NVTS February 13th

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