§ 45-1. Creation of fund; restatement of plan; Chief Administrative Officer., Article I. Police Pension Fund, Chapter 45. Pensions, Part I. Administrative Legislation, Code of Ordinances, Lower Moreland

The Township hereby creates a Municipal Police Pension Fund to be maintained by a charge against each member of the police force, by annual appropriations made by the Township and by payments made by the State Treasurer to the Township Treasurer from moneys received from taxes upon premiums by foreign casualty insurance companies for the purpose of pension retirement for policemen and by gifts, grants, devises or bequests which may be granted to the pension fund.

The Township of Lower Moreland hereby adopts the Amended and Restated Municipal Police Pension Plan effective January 1, 2014, including an extension to the DROP period from 36 months to 48 months, all as set forth on the attached 2014 Amended and Restated Municipal Police Pension Plan document, a copy of which is incorporated herein as Exhibit A to this subsection.

[Amended 1-21-2004 by Ord. No. 552; 1-17-2007 by Ord. No. 593; 1-21-2009 by Ord. No. 611; 7-12-2011 by Ord. No. 641; 11-16-2011 by Ord. No. 646; 7-8-2014 by Ord. No. 686]

Editor's Note: Said exhibit is on file in the Township offices.

The Lower Moreland Township Manager is designated as the Chief Administrative Officer of the plan. The Township Manager or the agent of the employer is authorized and directed to execute the attached amendment and restatement of the plan.

Editor's Note: The amended and restated plan is on file in the Township offices.

Editor's Note: This ordinance provided for an effective date of 1-1-2001. This ordinance also provided that each employee who was previously a participant shall remain a participant, and no employee who was a participant in the plan before the date of amendment shall receive a benefit under this amended plan that is less than the benefit he was then entitled to receive under the plan as of the day prior to the amendment.