posted by Joe Polk at 1:29 AM /
Commonwealth Court has invalidated a provision of the Mt. Lebanon police officers' pension plan that would have allowed early retirees to earn annual cost-of-living adjustments until they reached 90 percent of their final average monthly salary.
A three-judge panel ruled that the police union's interpretation of the provision's cost-of-living adjustment, or COLA, benefits violated the Municipal Pension Plan Funding Standard and Recovery Act, known as Act 205, because it differed from the calculation upon which the municipality relied when it enacted the provision.
Read the full article:
A three-judge panel ruled that the police union's interpretation of the provision's cost-of-living adjustment, or COLA, benefits violated the Municipal Pension Plan Funding Standard and Recovery Act, known as Act 205, because it differed from the calculation upon which the municipality relied when it enacted the provision.
Read the full article:
- www.post-gazette.com/stories/business/legal/court-disallows-higher-benefit-for-mt-lebanon-police-retirees-647746 (Pittsburgh Post-Gazette)
Labels: pensions, police department, retirement
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