Pennsylvania § 1132 Private police pension funds and optional transfers

Pennsylvania Statutes

§ 1132 — Private police pension funds and optional transfers

Pennsylvania § 1132

JurisdictionPennsylvania

Title 8BOROUGHS AND INCORPORATED TOWNS

PartPART I

Ch. 11POWERS, DUTIES AND RIGHTS OF

Subch.POLICE PENSION FUND IN

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Bluebook

8 Pa. Cons. Stat. § 1132 (2026).

Text

(a)General rule.--If there is a private organization or association constituting and managing an existing pension fund for the members of the police force in any borough, the borough shall establish a police pension for the purpose of paying pensions to the members of its police force if the membership of the organization or association by a two-thirds vote elects to transfer its funds with all its assets and liabilities into a borough pension fund as required to be established by this part.

(b)Assumption of liability.--The transfer in subsection (a) may be made by the transfer of securities. After the transfer, the borough police pension fund shall assume the liability of continuing the payment of pensions to members of the police force retired prior to the transfer, in accordance with

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(a) General rule.--If there is a private organization or association constituting and managing an existing pension fund for the members of the police force in any borough, the borough shall establish a police pension for the purpose of paying pensions to the members of its police force if the membership of the organization or association by a two-thirds vote elects to transfer its funds with all its assets and liabilities into a borough pension fund as required to be established by this part.

(b) Assumption of liability.--The transfer in subsection (a) may be made by the transfer of securities. After the transfer, the borough police pension fund shall assume the liability of continuing the payment of pensions to members of the police force retired prior to the transfer, in accordance with the laws and regulations under which the members were retired.