Title
Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," by amending Section 22-401 relating to service-connected disability retirement benefits to increase the amount of the benefit for certain members and to provide for a cost-of-living allowance for certain members, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," is hereby amended as follows:
TITLE 22. PUBLIC EMPLOYEES RETIREMENT CODE
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CHAPTER 22-400. DISABILITY BENEFITS
§22-401. Service-Connected Disability Retirement Benefits.
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(4) Benefit Amount. Upon retirement for service-connected disability, a member shall receive an annual retirement benefit equal to [seventy percent (70%)] one hundred percent (100%) of the member's final compensation, as it may be adjusted by §22-401(5), §22-401(6), §22-401(7), and §22-306, subject to the provisions of §22-403 (Reexamination of Disabled Members). The member may also elect to receive either a lump-sum payment equal to the member's contributions to the Retirement System or, in lieu thereof, any survivor benefit option available to the member's plan under §22-306. The member's election shall be irrevocable. A member of Plan D, Plan J or Plan X who fails to make the foregoing election prior to retirement will be deemed to have elected Option 4.
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(6) Cost-of-Living Adjustment. Beginning with the first day of the next fiscal year beginning after the effective date of the ordinance that adds this subsection, all members receiving an annual retirement benefit under this section shall have their monthly benefit adjusted annually on July 1 of each year in accordance with the following provisions:
(a) The Board shall compare the Consumer Price Index for All Urban Consumers (CPI-U) All Items Index, Philadelphia, Pennsylvania, United State...
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