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Back to search resultsBill 100542

Amending Section 22-310 of The Philadelphia Code, entitled "Deferred Retirement Option Plan (DROP)," by immediately terminating DROP, under certain terms and conditions.

AI summary

This lapsed bill would have amended the Philadelphia Code to immediately terminate the Deferred Retirement Option Plan (DROP). It would have preserved the rights of anyone whose application to participate was pending or had already been accepted when the change took effect.

File details

Status
LAPSED
Introduced
September 16, 2010
Sponsors
Marian B. Tasco
View official record ↗

Full text

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Section 22-310 of The Philadelphia Code is hereby amended to read as follows:

§ 22-310. Deferred Retirement Option Plan (DROP).

* * *

(1.1) Termination of DROP. The DROP is terminated effective upon this subsection becoming law, except that no member whose application to participate in the DROP is pending or has been accepted as of such date shall be divested of any rights under the DROP.

SECTION 2. This Ordinance shall become effective immediately.

__________________

Explanation:

Italics

indicate new matter added.

End

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionCommittee of the Whole

    Recessed

    Council actionCommittee of the Whole

    Hearing held

    Council actionCommittee of the Whole

    Hearing notices sent

  2. Council actionCITY COUNCIL

    Introduced and Referred

    Pass