Title
Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," by amending Sections 22-306, 22-701 and 22-702, to make Retirement and Survivorship Benefit Option 4 available to members of additional Plans, to allow the member to designate his or her dependent grandchildren to receive a survivorship benefit, and to allow benefits to be paid to trusts for disabled grandchildren of 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 is hereby amended as follows:
TITLE 22. PUBLIC EMPLOYEES RETIREMENT CODE.
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CHAPTER 22-300. RETIREMENT BENEFITS.
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ยง22-306. Retirement and Survivorship Benefit Options.
(1) Election of options. Any member may at any time prior to retirement elect in writing one of the following options pursuant to which retirement benefits and survivorship benefits will be paid.
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Option 4 - With respect to a member of Plan D, Plan J, Plan A, Plan B or Plan X only, the retired member will receive retirement benefits in the form of an annuity for life. If the retired member elected this option or dies without having elected any option, one-half of the amount of the member's retirement benefit, without reduction, shall be paid to the member's surviving spouse, provided that they were married at least two (2) years before retirement or the date on which a separated member became eligible to apply for retirement benefits.
Upon the death of the surviving spouse, or if there is no surviving spouse who qualifies under the previous paragraph, the retirement benefit shall be paid to the dependent children, either natural or adopted, of the deceased member; and to the dependent grandchildren, either natural or adopted, of the deceased member, if the deceased had court ordered or court sanctioned physical and legal custody of the dependent grandchild, until each child or g...
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