Tuesday, March 29, 2005

HB 279: Municipal Retirement System Administrative Expenses

H.B. 279, P.N. 302 (HERMAN). This would amend the Pennsylvania Municipal Retirement Law, Act 15 of 1974, P.L. 34.
This would permit the Pennsylvania Municipal Retirement System to pay administrative expenses that can not be paid, as currently stated in law, from the per member assessment funds, due to insufficient funds in this account, to be paid from excessive interest earnings above regular interest credited to members’ reserve accounts, for this year retroactive to 2001.


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