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Title:
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Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," by amending the options for retirement benefits; in particular, adding a new option for retirees to take a lump sum benefit at retirement, in exchange for an actuarial reduction of their regular monthly pension; and making conforming amendments to other provisions; all under certain terms and conditions.
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Action text:
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A motion was made by Councilmember Goode that this matter be Introduced and Referred to the Committee on Labor and Civil Service. The motion carried unanimously.
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