4.1. Background 4.1.1. County data 4.1.1.1. Berks County is an urban area of 428,849 persons (2020 Census), situated in southeastern Pennsylvania. The county seat, which is the city of Reading, is 56 miles northwest of Philadelphia. 4.1.1.2. The County is a third-class county and employs 2127 employees. 4.1.2. The Berks County Employees’ Retirement Board consists of the County of Berks Commissioners, Treasurer and Controller. 4.1.3. The County is subject to The County Pension Law Act 96 of 1971, as amended. 4.1.3.1. Participants are required to contribute five percent (5%) of their salary; however, participants reserve the right to contribute an additional amount not exceeding an additional ten percent (10%). 4.1.3.2. A participant is considered vested after having completed five (5) or more years of credited service. Once vested, a participant can leave accumulated deductions credited to his account in the fund. Upon reaching superannuation retirement age, the participant receives a superannuation retirement allowance. 4.1.3.3. Superannuation retirement age is defined as sixty (60) years of age or older except as applied to a contributor who has completed twenty (20) years of total service, in which the superannuation retirement age is defined as fifty-five (55) years of age or older or if involuntary terminated with at least eight (8) years of service. 4.1.4. County’s pension plan 4.1.4.1. The County participates in a single employer defined benefit plan (the “Pension”). 4.1.4.2. The Berks County Employees’ Pension Plan effective January 1, 1942, provides retirement, disability, and death benefits to plan members and their beneficiaries. 4.1.4.3. Cost-of-living adjustments (COLA) are provided at the discretion of the Berks County Employees’ Retirement Board. The last COLA was effective 01/01/2000. 4.1.4.4. The County retains SEI Investments as its co-fiduciary custodian manager and investment advisor and manager.
