Nothing in 71 Pa.C.S. § 5955 shall affect the eligibility of an officer or member of the Pennsylvania State Police to retire after June 30, 1989, as provided in a binding arbitration award issued before July 1, 1989, pursuant to the act of June
24, 1968 (P.L.237, No.111), referred to as the Policemen and Firemen Collective Bargaining Act, as implemented by the State Employees' Retirement Board. This section permits retirement at:
(1) 50% of highest-year salary and 20 years of service; and
(2) 75% of highest-year salary and 25 years of service. § 13. Applicability to pension obligation bonds. The following apply to pension obligation bonds:
(1) No executive agency or independent agency may issue a pension obligation bond for the benefit of:
(i) the Public School Employees' Retirement System of Pennsylvania; or
(ii) the State Employees' Retirement System of Pennsylvania.
(2) As used in this section, the following words and phrases shall have the meanings given to them in this paragraph unless the context clearly indicates otherwise:
"Executive agency." As defined in 62 Pa.C.S. § 103 (relating to definitions).
"Independent agency." As defined in 62 Pa.C.S. § 103. § 14. Certain public officials held harmless. Certain public officials shall be held harmless, as follows:
(1) Notwithstanding any other provision of law, fiduciary requirement, actuarial standard of practice or other requirement to the contrary, the members of the Public School Employees' Retirement Board, the actuary and other employees and officials of the Public School Employees' Retirement System shall not be held liable or in breach or violation of any law or standard either as individuals or in their official capacity or as a governmental or corporate entity for any action or calculation related to calculating and certifying a final contribution rate as provided for in this act that is different from the actuarially required contribution rate as otherwise appropriately calculated under the provisions of the Public School Employees' Retirement Code.
(2) Notwithstanding any other provision of law, fiduciary requirement, actuarial standard of practice or other requirement to the contrary, the members of the State Employees' Retirement Board, the actuary and other employees and officials of the State Employees' Retirement System shall not be held liable or in breach or violation of any law or standard either as individuals or in their official capacity or as a governmental or corporate entity for any action or calculation related to calculating and certifying a final contribution rate as provided for in this act that is different from the actuarially required contribution rate as otherwise appropriately calculated under the provisions of the State Employees' Retirement Code. § 15. Construction of calculation or actuarial method. Construction of a calculation or actuarial method shall be as follows:
(1) Nothing in this act shall be construed or deemed to imply that any calculation or actuarial method used by the Public School Employees' Retirement Board, its actuaries or the Public School Employees' Retirement System was not in accordance with the provisions of the Public School
Employees' Retirement Code or other applicable law prior to the effective date of this section.
(2) Nothing in this act shall be construed or deemed to imply that any calculation or actuarial method used by the State Employees' Retirement Board, its actuaries or the State Employees' Retirement System was not in accordance with the provisions of the State Employees' Retirement Code or other applicable law prior to the effective date of this section. § 16. Restoration of service credit or retirement benefits. Nothing in this act shall be deemed to permit the restoration of service credit or retirement benefits which were the subject of an order of forfeiture pursuant to the act of July 8, 1978 (P.L.752, No.140), known as the Public Employee Pension Forfeiture Act, or subject to section 16 of Article V of the Constitution of Pennsylvania or 42 Pa.C.S. § 3352.
