THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
WHEREAS, The Council of the City of Philadelphia intends to clarify the provisions of existing agreements between the Board of Pensions and Retirement and quasi-public agencies, including the Philadelphia Housing Development Corporation and the Philadelphia Parking Authority, to reflect the actual operations of the provisions of such plans and the intent of the quasi-public agencies; now therefore:
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 (new matter is indicated by italics; deleted mater is indicated by brackets):
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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:
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(a) The retirement benefits to which employees of the quasi-public agencies are entitled shall be in form and substance identical with the retirement benefits granted to [exempt] any comparable classification of municipal employees of the City of [Philadelphia;] Philadelphia pursuant to the provisions of the retirement system of the City, as set forth in an ordinance approved December 5, 1956, known as the "Retirement System Ordinance" as it now is and as it may be amended from time to time, and as has been subsequently codified into Title 22 of The Philadelphia Code, as has been specified in this agreement. Provided, that such employees shall not be entitled to participate in the benefits provided by Article IV in the said ordinance. Subject to the foregoing, this agreement may specify the retirement benefits applicable to the employees of the quasi-public agency by reference to the pension benefits specified in one or more collective bargaining agreements entered into between the quasi-public agencies and applicable unions, as such agreements are amended from time to time.
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SECTION 2. Section 1 of this Ordinance shall be effective with respect to any agreements or amendments to agreements with any quasi-public agency, as that term is used in the Ordinance of March 1, 1963, that is currently in force and shall be retroactive.
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