Title
Proposing an amendment to the Philadelphia Home Rule Charter providing for the creation of the Philadelphia Retirement Savings Board; and providing for the submission of the proposed amendment to the electors of Philadelphia.
Body
WHEREAS, Under Section 6 of the First-Class City Home Rule Act (53 P.S. §13106), an amendment to the Philadelphia Home Rule Charter may be proposed by a resolution of the Council of the City of Philadelphia adopted with the concurrence of two-thirds of its elected members; now, therefore, be it
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA:
SECTION 1. That the following amendment to the Philadelphia Home Rule Charter is hereby
proposed and shall be submitted to the electors of the City of Philadelphia on an election date
designated by ordinance:
ARTICLE III
EXECUTIVE AND ADMINISTRATIVE BRANCH - ORGANIZATION
CHAPTER 1
OFFICERS, DEPARTMENTS, BOARDS, COMMISSIONS AND OTHER AGENCIES
§ 3-100. Executive and Administrative Officers, Departments, Boards, Commissions and
Agencies Designated.
The executive and administrative work of the City shall be performed by:
* * *
(e) The following independent boards and commissions, which, except for the Board of Trustees of the Free Library of Philadelphia, are hereby created:
* * *
Philadelphia Prison Community Oversight Board[.];
Philadelphia Retirement Savings Board.
* * *
CHAPTER 8
INDEPENDENT BOARDS AND COMMISSIONS
* * *
§ 3-815. Philadelphia Retirement Savings Board.
(a) The Philadelphia Retirement Savings Board shall be composed of nine members as follows:
(1) Four members shall be appointed by the Mayor;
(2) Four members shall be appointed by the Council President;
(3) One member shall be appointed by the City Controller.
(b) All appointments to the Board shall be made within sixty days after the Board is first created. All members shall serve for a term of four years. Members shall serve until their successors have been appointed.
(c) Vacancies on the Board shall be filled for the balance of the unexpired term by the appointing authority who originally appointed the member whose seat has become vacant.
(d) No member of the Board shall serve for more than two consecutive four-year terms.
(e) No member of the Board, while serving as a member, shall seek or hold a position as an elected public official within the Commonwealth, or as an officer of a political party.
ARTICLE IV
EXECUTIVE AND ADMINISTRATIVE BRANCH - POWERS AND DUTIES
The Mayor, The City Representative and Departments, Boards, Commissions and Offices under
the Mayor
* * *
CHAPTER 30
PHILADELPHIA RETIREMENT SAVINGS BOARD
§ 4-3000. Mission.
The Philadelphia Retirement Savings Board (the “Board”) shall administer and enforce all provisions of this Charter and ordinances pertaining to the defined contribution retirement program (the “Program”) created by the City for residents who are employed for compensation in the City.
§ 4-3001. Powers and Duties.
The Philadelphia Retirement Savings Board has the following powers:
(a) To establish, implement, and maintain the defined contribution retirement program developed under this Charter and relevant ordinances;
(b) To promulgate rules and regulations as are necessary to carry out the purpose and intent of the Program, and to ensure that the Program complies with all applicable federal and state laws, rules, regulations, notices, and interpretations;
(c) To direct the investment of the funds contributed to accounts in the Program consistent with the investment policy established by the Board;
(d) To collect any necessary fees to defray the costs of administering the Program;
(e) To make or enter into contracts or agreements as necessary to administer the Program;
(f) The Board may enter into a consortium, alliance, joint venture, partnership, compact, or contract with another city, state, or states or their retirement savings programs or boards, which may modify the Board’s duties under this section.
(g) All expenses and fees incidental to the Program and its administration must be charged to and paid from participant accounts.
* * *
APPENDIX
* * *
CHAPTER A-2
§ A-200. Schedule.
This Charter shall become effective on the first Monday of January, 1952, except in the
following particulars:
* * *
(28) The amendments to this Charter relating to the Philadelphia Retirement Savings Board shall take effect July 1, 2026.
____________________________________________________
Italics indicate matter added to the Charter by these amendments.
[Brackets] indicate matter to be deleted.
End