Pension Calculation. The formula for determining employee monthly retirement benefit shall be as determined by the Township Retirement Board as set forth in the By-Laws of the Municipal Employees Pension Fund of Upper ▇▇▇▇▇ and the Pension Plan Handbook. The Township shall be responsible for contributing such funds as may be necessary as recommended by the actuary in order to meet the expected costs of present and future plan benefits resulting from calculation change set forth in this paragraph.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement