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Union City approves 2025 Minimum Municipal Obligation for nonuniform pension ($48,029)

Union City Borough Council · August 13, 2024
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Summary

Council acknowledged receipt of the 2025 MMO and approved payment: $48,029 required for the nonuniform pension and $0 for the police pension. Motion to approve was unanimous.

Borough Manager Cindy Wells reported the borough received the 2025 Minimum Municipal Obligation (MMO). The required payment for the nonuniform pension is $48,029; the police pension required $0.

Councilor Joyce moved and Councilor Kerns seconded to approve the 2024 MMO for the nonuniform and police pensions; motion carried unanimously. The minutes do not detail funding sources or timing for the payment beyond approving the obligation.

No further discussion of pension funding or actuarial assumptions appears in the minutes.

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