Community Corner
Royersford Borough Council Adopts Mandatory MMO Change to Employee Pension Plan
Royersford Borough Council adopted the new mandatory MMO budget for the Borough Pension Plan, along with changes to the Borough vehicle code for handicapped parking.
The Royersford Borough Council met at on Tuesday night for a regular meeting. At the meeting, council voted on the state mandatory minimum municipal obligation [MMO] amendment to the police and non-uniform worker pension fund. Changes were also made to handicapped parking in the vehicle code, along with scheduling an upcoming public hearing for the subdivision and land development ordinance on Nov. 8.
The council hopes to clarify and redefine the language in the code to make directive instead of suggestive. Examples would include the width of lots, length of lots, etc.
State law has mandated all municipalities to adopt and line audit their budget by Sept. 20 of this year for the MMO to the pension fund for police and non-uniform workers. For 2011, the obligation for Royersford police officers was $59,849 and non-uniform employees was $27,011.
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The 2012 calculations resulted in a higher obligation due to the 2008 financial markets collapsing, and using asset smoothing in 2009 until this year, that only recognized a portion of the full loss in the pension plans. For 2012, the police pension fund actually went down almost $1,000 to $58,997, while the non-uniform workers pension plan increased an estimated $24,000.
“Hopefully with investment gains or performance with 7.5% return, we can get this number down,” said financial consultant Joseph Duda.
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Changes to the vehicle code were voted in favor of changing the signage throughout the borough, as well as the application process. Limiting the number of handicapped parking spots on one street to one per house should help elevate traffic and parking concerns, according to council. Moreover, the council said by placing signage of designated spots, it allows people parking on the streets that aren’t residents to find places to park and make it clear that just because someone applied for a spot in front of their home, it is still considered a public handicapped parking space for anyone with a handicapped license plate or hanging tag.
Royersford Borough budget packages were passed out to the council to take home and review for discussion at the upcoming meeting. The interview process for the concluded Tuesday. The council reflected hopes to have a replacement very soon for current Mayor .
