§ 14305. Payments to police pension fund by city.
Unless otherwise required by the act of December 18, 1984 (P.L.1005, No.205), known as the Municipal Pension Plan Funding Standard and Recovery Act, or another provision of law, this section shall govern the payment to the police pension fund of money raised by a tax levied by the city. The following shall apply:
(1) A city shall pay annually to the police pension fund a sum of money sufficient to meet the requirements of and to maintain the fund. In any year, the sum may not be less than one-half of 1% or more than 3% of the taxes levied by the city, other than a tax levied to pay interest on or extinguish the debt of the city.
(2) Council may exceed the limitation imposed by this section if an additional amount is deemed necessary to provide sufficient funds for payments to surviving spouses of members retired on pension, killed or who die in the service, provided that the city may annually pay into the fund not less than one-half of 1% of the taxes levied by the city, other than a tax levied to pay interest on or extinguish the debt of the city.Section: Previous 14301 14302 14302.1 14303 14303.1 14303.2 14304 14305 14306 14307 14308 14309 14319 14320 14320.1 Next
Last modified: October 8, 2016