RESOLUTION NO. 129-11

 

A RESOLUTION OF THE WEST MIFFLIN SANITARY SEWER MUNICIPAL AUTHORITY RELATIVE TO THE ESTABLISHMENT AND MAINTENANCE OF EMPLOYEES’ PENSION, ANNUITY, INSURANCE AND BENEFIT FUND OR FUNDS, TO AMMEND CERTAIN PROVISIONS OF THE PENSION PLAN OR PROGRAM APPLICABLE TO THE EMPLOYEES OF SAID AUTHORITY.

 

WHEREAS, the West Mifflin Sanitary Sewer Municipal Authority (“the Authority”) has previously enacted a Resolution (Resolution No. 15-97) establishing the West Mifflin Sanitary Sewer Municipal Authority Employees’ Pension Plan (“the Plan”); and

 

            WHEREAS, the Authority has reserved the right to amend the Plan pursuant to Section 11.01 of the above-referenced Resolution; and

 

            WHEREAS, the Authority now desires the Plan to be further amended by providing an incentive for non-bargaining unit employees over the age of 65 to retire,

 

            NOW, THEREFORE, BE IT RESOLVED AND ADOPTED by the Board of Directors of the Authority and it is HEREBY RESOLVED AND ADOPTED by the Authority that, the following be incorporated into the retirement plan effective immediately:

 

For the period of November 12, 2010 through November 29, 2010, the Authority will permit any non-bargaining unit employee age sixty-five (65) or older to retire without reduction in their accrued benefit for those who have less than 15 years of service otherwise applicable pursuant to the Pension Plan.  Additionally, employees exercising this option will receive a supplemental pension of $400.00/month, payable for two years as a certain and life benefit from the General Fund of the Authority. 

 

The employee is required to terminate their active employment no later than December 31, 2010.

 

RESOLVED AND ADOPTED, this 6th day of January, 2011.

 

ATTEST:                                                       WEST MIFFLIN SANITARY SEWER

                                                                        MUNICIPAL AUTHORITY

 

 

 

______________________________     BY:     ______________________________

Secretary                                                                   Chairman