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Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 881.114. Monthly payments

Current as of January 01, 2026 | Updated by Findlaw Staff

(a)(1) Except as provided under clause (2), any retirement allowance created under the provisions of this act shall be paid in equal monthly installments and shall not be increased, decreased, revoked or repealed, except where specifically otherwise provided by this act.

(2) Notwithstanding clause (1), if the annuitant is a DROP participant, the equal monthly installment shall be deposited to the subsidiary DROP participant account and paid out in accordance with the DROP program.

(b) The annual retirement benefit payable to a member shall not exceed the annual dollar limitation under section 415(b)(1)(A) of the Internal Revenue Code 1 as may be adjusted under section 415(d) of the Internal Revenue Code.  If an adjustment is required due to the Internal Revenue Code, regulations or other publications issued by the Internal Revenue Service, the adjustment shall only apply to the dollar limitation specified in this section.

1  26 U.S.C.A. § 415.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 881.114. Monthly payments - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-53-ps-municipal-and-quasimunicipal-corporations/pa-st-sect-53-881-114/

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