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File #: 160470    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 5/12/2016 In control: Committee on Finance
On agenda: Final action: 6/16/2016
Title: Amending the Ordinance approved July 12, 1968, as last amended June 12, 2014, 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 with respect to death benefits for certain plan participants; all under certain terms and conditions.
Sponsors: Councilmember Green
Indexes: PHILADELPHIA GAS WORKS
Attachments: 1. CertifiedCopy16047000.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
6/28/20160 MAYOR SIGNED   Action details Not available
6/16/20160 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
6/9/20160 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
6/9/20160 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
6/9/20160 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
6/2/20160 Committee on Finance HEARING NOTICES SENT   Action details Not available
6/2/20160 Committee on Finance HEARING HELD   Action details Not available
6/2/20160 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
5/12/20160 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Amending the Ordinance approved July 12, 1968, as last amended June 12, 2014, 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 with respect to death benefits for certain plan participants; all under certain terms and conditions.

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, January 1, 1999, June 26, 2002, July 1, 2004, December 21, 2011, and June 12, 2014 relating to retirement benefits for employees working on behalf of the Philadelphia Gas Works, is hereby amended as follows:


PHILADELPHIA GAS WORKS
PENSION PLAN

* * *

SECTION 9
DEATH BENEFITS

* * *

Sec. 9.02 Eligibility.

(a) With respect to any Active or Deferred Vested Participant whose death occurred prior to May 15, 2015, and with respect to any Deferred Vested Participant who separated from service prior to May 15, 2015 and whose death occurred on or after May 15, 2015, ifIf anthe Active Participant or Deferred Vested Participant at the time of his/her death:

(1a) hasd combined Years of Credited Service and attained Age of sixty-five (65) or more of which at least fifteen (15) represent Years of Credited Service and at least forty-five (45) represent attained Age; or

(2b) hasd twenty (20) Years of Credited Service regardless of attained Age,

then there shall be paid toand has not already received a benefit under this Plan, then his/her Death Beneficiary (if any) shall be eligible for a benefit in the form of a Preretirement Death Annuity, with the benefit commencing as if the Participant has retired due to Total Disability, pursuant to Section 7, on the day preceding the date of his/her dea...

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