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Borough receives $48,955.80 in pension state aid; council to meet with PSAB advisor
Summary
Union City reported $48,955.80 in Municipal Pension State Aid to be applied to the Non‑Uniformed Pension Plan; the borough will meet with a PSAB pension adviser who said the borough might have missed over $9,000/year historically.
Union City Borough Manager Cindy Wells reported the borough received $48,955.80 in Municipal Pension State Aid, which will be paid to the Non-Uniformed Pension Plan and covers the borough's required MMO.
Wells said the pension accounts are with Definiti and Northwest Bank and that the pension committee agreed to meet. She noted Joe Scott with PSAB Pension has offered to review both pensions and "believes we could have received over $9,000 a year over the last four years." Council agreed to meet with the adviser to review potential missed entitlements.
The minutes record no formal vote on pensions at this meeting; the council instead agreed to convene the pension committee and consult the PSAB advisor.
