§ 211.1. Definitions.
The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:
Act—The act of December 6, 1972 (P. L. 1383, No. 293) (53 P. S. § § 730.1—730.5).
Actuarial investigation—An evaluative study by an actuary of the status of current assets and pension funds of a pension system, in relationship to the sufficiency of the assets to meet current and future liabilities. The results of the evaluative study shall be reported on forms supplied by the Commission.
Commission—The Public Employee Retirement Commission of the Commonwealth.
Complete report—The collection of the applicable reporting forms determined to be in compliance with Commission instructions for each type of pension system—that is, municipal employes, police and firemen—of a municipality and copies of actuarial investigations where required by Commission instructions. Requirements for a complete report and the identification of reporting forms are set forth in § 211.6 (relating to complete report).
Fireman—A person who holds a position or office in the fire department of a municipality, is paid a regular salary or on a per diem basis, and has pension benefits provided for under a firemen’s pension system.
Member—A person who represents past, present or future liability or future potential liability to the pension system, including active members with or without vesting, retired members, eligible beneficiaries and terminated members with vesting.
Municipal employe—A person holding a position or office, other than that of a fireman or policeman, under a municipality, and paid a regular salary or on a per diem basis. The term also includes a person who holds a position or office in a police or fire department of a municipality and has pension benefits provided for under a municipal employes’ pension system.
Municipality—A city, borough, town, township, county, jointure, Council of Government; a newly created governmental unit, or an authority created by a city, borough, town, township, or county or jointly by any of the political subdivisions.
Pension fund—The combined assets of a pension system maintained to provide benefits to pension system members, which include, cash accounts, invested funds, life insurance and annuity contracts. The term, for purposes of the act, does not include a separate deferred compensation plan in which the employe voluntarily agrees to the withholding of a portion of his income by the employer until some future date, usually retirement, at which time the moneys withheld are paid under section 2 of the act of July 18, 1974 (P. L. 472, No. 168) (72 P. S. § 4521.1).
Pension reimbursements—Commonwealth contributions to pension systems, from the tax paid upon premiums by foreign fire insurance companies under section 2 of the act of June 28, 1895 (P. L. 408, No. 289) (72 P. S. § 2262) (Repealed), from the tax paid upon premiums by foreign casualty insurance companies under sections 1 and 2 of the act of May 12, 1943 (P. L. 259, No. 120) (72 P. S. § § 2263.1 and 2263.1a), and from other sources of funds which are or may become available to the Commonwealth for contributions to pension systems.
Pension system—A plan, fund or program which was heretofore or is hereafter established or maintained by a municipality to the extent that by its express terms or as a result of surrounding circumstances, the plan, fund or program provides retirement income or benefits to municipal employes, police or firemen or to their eligible beneficiaries, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan or the method of distributing benefits from the plan.
Police—Persons who hold positions or offices in the police department of a municipality, are paid on a regular salary or per diem basis, and have their pension benefits provided for under a police pension system.
Regional pension system—A plan, fund or program which was heretofore or is hereafter established or maintained by two or more cooperating municipalities to the extent that by its express terms or as a result of surrounding circumstances, the plan, fund or program provides retirement income or benefits to municipal employes, police and firemen or to their eligible survivors, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan or the method of distributing benefits from the plan.
Reporting forms—Individual forms for the various types of pension systems. Section 211.6 sets forth a list of the forms which are designed by the Commission and are distributed to the municipalities.
Valuation date—The date within the required reporting year on which the valuation of the assets and the liabilities of the system is determined or, in the case of a system having no defined benefits, the date within the required reporting year on which valuation of the assets of the system is determined.
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