Transmitting a bill amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code" to create two new Plans, entitled "Plan '09" and "DC Plan," for (i) certain employees hired or rehired on and after July 1, 2009; and (ii) certain electing employees; and making technical changes; all under certain terms and conditions.

AI summary

This communication transmits a proposed bill that would amend Philadelphia’s Public Employees Retirement Code to create two retirement plans, called Plan '09 and the DC Plan. The plans would apply to certain employees hired or rehired on or after July 1, 2009, and to certain employees who elect to participate; the proposal would also make technical changes.