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File #: 130307    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 4/18/2013 In control: Committee on Labor and Civil Service
On agenda: Final action: 6/13/2013
Title: Amending the Ordinance of March 1, 1963, entitled "An Ordinance authorizing the Board of Pensions and Retirement to enter into an agreement or agreements to administer employee retirement benefits for the Philadelphia Industrial Development Corporation, Passenger Services Improvement Corporation, Food Distribution Center, and the Philadelphia Parking Authority, under certain terms and conditions," as amended, to provide for revised reimbursement rates, under certain terms and conditions.
Sponsors: Council President Clarke, Councilmember Jones
Indexes: BOARD OF PENSIONS AND RETIREMENT, PARKING AUTHORITY, PIDC
Attachments: 1. CertifiedCopy13030700.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
6/25/20130 MAYOR SIGNED   Action details Not available
6/13/20130 CITY COUNCIL READ AND PASSEDPass16:0 Action details Not available
6/6/20130 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
6/6/20130 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
6/6/20130 CITY COUNCIL ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR   Action details Not available
6/4/20130 Committee on Labor and Civil Service HEARING HELD   Action details Not available
6/4/20130 Committee on Labor and Civil Service REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
6/4/20130 Committee on Labor and Civil Service HEARING NOTICES SENT   Action details Not available
5/22/20130 Committee on Labor and Civil Service HEARING NOTICES SENT   Action details Not available
5/22/20130 Committee on Labor and Civil Service Cancellation of Scheduled Public Hearing   Action details Not available
4/18/20130 CITY COUNCIL Introduced (By Request) and ReferredPass  Action details Not available
Title
Amending the Ordinance of March 1, 1963, entitled "An Ordinance authorizing the Board of Pensions and Retirement to enter into an agreement or agreements to administer employee retirement benefits for the Philadelphia Industrial Development Corporation, Passenger Services Improvement Corporation, Food Distribution Center, and the Philadelphia Parking Authority, under certain terms and conditions," as amended, to provide for revised reimbursement rates, under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Ordinance of March 1, 1963, entitled "An Ordinance authorizing the Board of Pensions and Retirement to enter into an agreement or agreements to administer employee retirement benefits for the Philadelphia Industrial Development Corporation, Passenger Services Improvement Corporation, Food Distribution Center, and the Philadelphia Parking Authority, under certain terms and conditions," as amended, is hereby amended to read as follows:

Section 3. The agreements to be entered into by the Board of Pensions and Retirement and the quasi-public agencies shall provide, in substance, as follows:

* * *

(d) Each agency shall reimburse the City the total normal cost of the benefits provided at rates most recently established by the actuary of the Board of Pension and Retirement of the City, based upon the actuarial experience of the applicable Plans of the retirement system of the City; except that the Philadelphia Housing Development Corporation ("PHDC") shall reimburse the City at a rate equal to the minimum municipal obligation, as if PHDC were a municipality subject to the Municipal Pension Plan Funding Standard and Recovery Act, Act 205 of 1984, as amended; and each agency shall agree that, upon termination for any reason of its participation in the Plan, the agency shall thereupon reimburse the City for any unfunded liability attributable to its employees and former employees,...

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