Title
Amending Title 22 of The Philadelphia Code, entitled Public Employees Retirement Code, to make elected officials ineligible to participate in the Deferred Retirement Option Plan (DROP), all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
Section 1. Title 22 of The Philadelphia Code is hereby amended to read as follows:
TITLE 22. PUBLIC EMPLOYEES RETIREMENT CODE.
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CHAPTER 22-300. RETIREMENT BENEFITS.
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§ 22-310. Deferred Retirement Option Plan (DROP).
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(4) Eligibility. In order to be eligible to participate in this program, a member must be an active employee of the City and be otherwise eligible to retire under Section 22-301 and must have a minimum of ten (10) years of credited service, all as of the DROP entry date. In lieu of separating from employment and commencing receipt of service retirement benefits, any such member may enter into this program ("the DROP") on or after the date the member attains his or her "minimum retirement age" as that term is defined in Section 22-105(25), provided that the member's DROP entry date shall meet the requirements in Section 22-310(5)(a) below. For participation in the DROP to be effective, the application must be approved by the Board pursuant to Section 22-309. No elected official shall be eligible to participate in the DROP program.
Section 2. This Ordinance shall not apply to elected officials who, at the time this Ordinance becomes law, either (a) are enrolled in DROP; or (b) have at least eight or more years of service with the City as an employee or official.
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Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
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