Adoption Agreement 001Pennsylvania Municipal Retirement System Defined Benefit Plan • January 24th, 2018
The total amount of all payments, direct or indirect, made by the Municipality to an Member for services rendered to the Municipality, for a calendar year which ends within a Plan Year, as defined in Code Section 3401(a) for purposes of tax withholding at the source (as reported to the Employee on Form W-2 for such year). Compensation shall include before-tax or salary deferral contributions made to this Plan or any other plan of the Municipality, under a Code Section 132(f)(4) qualified transportation plan or under Code Sections 125, 402(g)(3), 457 or 414(h), on behalf of a Member for such Plan Year. The term Compensation shall exclude the following (select all exclusions): Overtime (as defined under the Fair Labor Standards Act) Bonus Payments (Regular) Bonus Payments (Special) Unused Accrued Leave Payments (if unused accrued leave is included for purposes of Compensation, it should be excluded for purposes of calculation of Credited Service under Section 1.24) Unused Sick Leave Paym
