ACT 345 . . . BY THE NUMBERS

Fire Fighters and Police Officers Retirement Act

MAPERS – SPRING CONFERENCE 2010 Presented by: Thomas Michaud

OBJECTIVE

To review the statutory provisions of Act 345 . . by the numbers to understand the framework of benefits and the potential issues contained within the statute.

STATUTORY KEY

The following comments reflect various issues which have appeared before Boards in their administration of Act 345. These comments are not intended to create, expand, reduce, or eliminate any substantive benefits provided by Act 345, but are offered to facilitate discussion regarding topics which may serve to improve the administration of police and fire retirement benefits. Notwithstanding, some of these suggestions may constitute benefit changes, and in those instances the appropriate parties (employer and union, if applicable) should have an opportunity to specifically adopt such provisions after consideration of the administrative, financial and actuarial effects. As always, please refer to the specific sections of Act 345 and applicable collective bargaining agreement provisions in addressing specific questions.

Potential deletions are indicated by: strike out

Possible additions are indicated by: UNDERLINED BOLD

Comments are indicated by: [Italics]

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