Transmitting a bill amending the Ordinance approved July 12, 1968, as last amended July 1, 2004, 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, clarify the operation thereof, and add certain provisions as required by the Internal Revenue Code of 1986, as amended; and permitting the establishment of a tax-qualified defined contribution plan for certain employees working on behalf of Philadelphia Gas Works; all under certain terms and conditions, accompanied by an explanatory letter from the President and CEO of the Philadelphia Gas Works.

AI summary

This communication is recorded with a status of placed on file. The available record describes it as: Transmitting a bill amending the Ordinance approved July 12, 1968, as last amended July 1, 2004, 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, clarify the operation thereof, and add certain provisions as required by the Internal Revenue Code of 1986, as amended; and permitting the establishment of a tax-qualified defined contribution plan for certain employees working on behalf of Philadelphia Gas Works; all under certain terms and conditions, accompanied by an explanatory letter from the President and CEO of the Philadelphia Gas Works. Full legislative text was not available for this item.