Pensions

ALLMUN PMRS

Employee Contributions Employer Contributions Fiduciary Responsibility Miscellaneous Normal Retirement Benefits Retirement Eligibility

Established the Municipal Pension Plan Sustainability Act. Using guidance established in the Auditor General's report, establishes restrictions and changes for municipal pension plans moving forward. This includes, but is not limited to: increasing the superannuation age, management of plans with under 100 members, a required assumed actuarial rate of return related to the established rate used by the PA Municipal Retirement System Board, reporting requirements to the Auditor General, minimum obligation payments and related penalties, and restrictions on pension plan changes that could cause financial difficulties.