Chapter 7-A of Act 44 of 2009 mandates the annual disclosure of certain information by every entity (hereinafter “Contractor”) which is a party to a professional services contract with one or more of the pension funds of the Municipality. Act 44 disclosure requirements apply to Contractors who provide professional pension services and receive payment of any kind from the Municipality’s pension fund. It is the Municipality’s responsibility to prepare and send the Disclosure Form to all Contractors requesting their responses.
When the Municipality receives the completed forms, the Contractors’ responses should be reviewed by the Municipality to determine if there are any conflicts of interest. The Municipality should file these completed Disclosure Forms with the pension plan documents. If the Municipality maintains a website, it is required by Act 44 that all Disclosure Forms be posted on the website.
The Borough of Waynesboro has two pension plans — the Police Pension Plan for police officers and the Non-Uniformed Pension Plan for all other full-time employees. Both pension plans are administered by Conrad Siegal Actuaries, and monies are invested with the Susquehanna Trust and Investment Company.
Borough staff reviewed the Act 44 submissions for both Conrad Siegal Actuaries and Susquehanna Trust and Investment Company and determined there were no conflicts of interest. Copies of the Act 44 submissions are provided through the links below:
Branch Banking and Trust Company Retirement & Institutional Services