Chapter 7-A of Act 44 of 2009 mandates the annual disclosure of certain information by every Contractor which is a party to a professional services contract with one 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 response.
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 b Act 44 that all Disclosure Forms be posted on the website.
Summit Township, Erie County has one pension plan, administered by The Principal Financial Group, and determined there were no conflicts of interest. A copy of the Act 44 submission is provided through this link: Act 44 Disclosure