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2 results for “retirement benefits” · other

  • LEBANON COMMUNITY LIBRARY 38-437-6 N.0595 GASB 68 Report Measurement Date of:

    Lebanon, PA
    Other

    This GASB 68 report provides accounting and financial reporting information for Lebanon Community Library's participation in the Pennsylvania Municipal Retirement System (PMRS), a defined benefit pension plan, as of December 31, 2023. Key findings show the library had a net pension asset of $297,327 (compared to $247,787 in 2022), total payroll of $277,378, and total pension expense of $21,429, representing -7.73% of payroll. The report includes detailed information on employee coverage, net pension liability calculations, deferred inflows and outflows, employer contributions, and actuarial assumptions and methods.

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  • Bethlehem-pa

    Bethlehem, PA
    Other

Article 151 of the City of Bethlehem's ordinances establishes and governs the Firemen's Pension Fund, created under authority of the Third Class City Code. The fund charges paid Fire Department members 7% of their pay, plus an additional 1% to cover benefits for surviving spouses and children under age 18 of retired, killed, or deceased members. The City must annually appropriate to the fund no less than one-half of one percent of all City taxes levied (excluding debt service taxes), beginning in 1949 and continuing thereafter. The fund is invested and merged with joint funds under Article 156 of the City's ordinances, with annual appropriations made in accordance with Pennsylvania's Act 205 of 1984 (Municipal Pension Plan Funding Standard and Recovery Act). Membership in the fund is voluntary for all paid firemen employed in the Bureau of Fire.

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