The Daily Item, Sunbury, PA

Montour County

December 14, 2013

Valley to change pension plans

VALLEY TWP. — The Valley Township supervisors have approved a new employee pension plan they believe will save money and provide a better return on investments.

The supervisors Wednesday night voted to establish a plan through the Pennsylvania Municipal Retirement System. The township will join the system as of Jan. 1.

Board members also voted to end their participation in a plan through a local investment adviser as of Dec. 31.

Township Solicitor Robert Buehner said the new plan should provide for better investments.

“Most local governments have this plan. The local governments provide the funds for it and employees match a certain amount,” he said. The state administers the plan but doesn’t contribute financially to it.

The township has two employees — Supervisors Chairman Gary Derr and his son, Matt Derr, who serve as the township road crew.

Email comments to kblackledge@thedanvillenews.com.

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