Renames the Police Officers Retirement Act as the Cities of the First Class Police Officers Retirement Act and modifies provisions.
The bill renames the Police Officers Retirement Act as the Cities of the First Class Police Officers Retirement Act and makes several amendments to the act. It specifies that the retirement system must comply with tax-qualification requirements under the Internal Revenue Code. It details the benefits for police officers, including pension benefits, disability benefits, and death benefits. It also outlines the investment policies and options available to plan participants and the funding sources for the benefits.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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