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Amending Section 22-310 of The Philadelphia Code, entitled “Deferred Retirement Option Plan (DROP),” by defining the employees to whom an extraordinary extension for participants in the DROP program may apply, under certain terms and conditions.
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THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 22-310 of The Philadelphia Code, entitled “Deferred Retirement Option Plan (DROP),” is hereby amended to read as follows:
§22-310. Deferred Retirement Option Plan (DROP).
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(2) Basic Concept of a DROP. Eligible employees who elect to participate in the DROP make an irrevocable commitment to separate from City service and retire upon ceasing participation in the DROP, which they must do no later than four (4) years after entering the DROP. Such employees remain employees of the City for all other purposes (except that deductions for employee pension contributions cease and the employee no longer accrues additional service credit for City pension) and are not treated as separated from the City during their participation in the DROP. However, the determination of the retirement benefit amount is made and payment begun upon entry into the DROP, except that payments of that benefit are credited to a special DROP account subject to certain conditions, rather than to the employee directly.
(a) Extraordinary Extension. [Based on a determination by the Mayor regarding the specific staffing needs in the Police Department or the Fire Department, the] The Mayor may determine that an extraordinary [circumstanmce] circumstance exists which threatens public health, safety and welfare, and where it would be in the City’s best overall interests to extend participation, participants in the DROP who are [public safety employees] in their fourth year in the program may remain employees of the City for up to one additional year beyond the four (4) year limit under the same terms and conditions of the DROP. [For purposes of this paragraph a “public safety employee” refers to City employees in the Police Department or the Fire Department.]
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SECTION 2. This bill shall be effective only if Bill No. 060506 is adopted into law.
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Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
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