Current through Register Vol. 54, No. 49, December 7, 2024
Section 81.10 - Withdrawal provisions(a) A plan withdrawal by a municipality shall comply with section 412 of the law (53 P. S. § 881.412).(b) A plan withdrawing from the System that has retired members shall provide to the Board as a part of the withdrawal application an acknowledgment of the plan sponsor to assume responsibility for the providing of all future benefit payments for the existing retired members and beneficiaries effective with the withdrawal.(c) Prior to the Board's approval of a withdrawal under section 412 of the law, the Board may require: (1) The withdrawing municipality to enter into a written agreement with the Board which would terminate its contractual relationship with the Board and fix the respective rights of the parties.(2) The withdrawing municipality to obtain individual waivers or releases from affected members, who will no longer be eligible for benefits from the System for service rendered to the withdrawing municipality.(d) The term "municipal employe" for the purpose of plan withdrawal shall include active member, inactive member, vested member and retired member.The provisions of this § 81.10 amended June 23, 2000, effective 6/24/2000, 30 Pa.B. 3168.