City of Philadelphia - File #: 020348

• File #: 020348
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/16/2002
• In control: Committee on Finance
• Final action: 6/13/2002
• Title: Amending and restating the Ordinance approved July 12, 1968, as last amended effective January 1, 1999, relating to pension benefits for employees working on behalf of Philadelphia Gas Works by revising the Philadelphia Gas Works Pension Plan to incorporate amendments thereto, clarify the operation thereof, and add certain provisions as required by the Internal Revenue Code of 1986, as amended.
• Sponsors: Councilmember Tasco
• Indexes: PHILADELPHIA GAS WORKS

Date	Ver.	Action By	Action	Result	Tally
6/26/2002	0	MAYOR	SIGNED
6/13/2002	0	CITY COUNCIL	READ
6/13/2002	0	CITY COUNCIL	PASSED	Pass	10:7
6/6/2002	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/6/2002	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL
6/6/2002	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/4/2002	0	Committee on Finance	HEARING NOTICES SENT
6/4/2002	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/4/2002	0	Committee on Finance	HEARING HELD
5/16/2002	0	CITY COUNCIL	Referred
5/16/2002	0	CITY COUNCIL	Introduced	Pass

Title
Amending and restating the Ordinance approved July 12, 1968, as last amended effective January 1, 1999, relating to pension benefits for employees working on behalf of Philadelphia Gas Works by revising the Philadelphia Gas Works Pension Plan to incorporate amendments thereto, clarify the operation thereof, and add certain provisions as required by the Internal Revenue Code of 1986, as amended.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Ordinance approved July 12, 1968, and amended December 14, 1973, March 8, 1979, February 26, 1981, March 4, 1982, December 19, 1983, November 14, 1986, July 17, 1987, December 20, 1988, March 6, 1995, and January 1, 1999, relating to retirement benefits for employees working on behalf of Philadelphia Gas Works is amended and restated in its entirety to read as follows:




PHILADELPHIA GAS WORKS

PENSION PLAN

SECTION 1 DEFINITIONS|913|
SECTION 2 PARTICIPATION ELIGIBILITY 12
SECTION 3 CALCULATION OF BENEFITS 13
SECTION 4 NORMAL RETIREMENT 16
SECTION 5 EARLY RETIREMENT, SPECIAL EARLY RETIREMENT,
AND THIRTY AND OUT RETIREMENT 17
SECTION 6 DEFERRED RETIREMENT 20
SECTION 7 DISABILITY BENEFIT 21
SECTION 8 VESTING PROVISIONS 22
SECTION 9 DEATH BENEFITS 25
SECTION 10 METHOD AND TIMING OF BENEFIT DISTRIBUTION 26
SECTION 11 CONTRIBUTIONS TO PROVIDE BENEFITS 30
SECTION 12 APPLICATION FOR BENEFITS AND CLAIMS
PROCEDURES 31
SECTION 13 PLAN ADMINISTRATION 32
SECTION 14 PENSION COMMITTEE 34
SECTION 15 SINKING FUND 36
SECTION 16 AMENDMENT OF PLAN 43
SECTION 17 TERMINATION OF PLAN 44
SECTION 18 MISCELLANEOUS PROVISIONS 45



PHILADELPHIA GAS WORKS
PENSION PLAN

SECTION 1

DEFINITIONS
Sec. 1.01 "Accumulated Sick Leave" shall mean the Participant's aggregate number of Sick Leave Days (not to exceed 200) as of the reference date; provided, however, that if a Participant shall have elected payment of the vested cash value attributable to some or all of the Particip...