PASSED

The enacted ordinance amends and restates the Philadelphia Gas Works Pension Plan for eligible employees who work directly in PGW operations. It updates rules for participation, retirement, disability, death and survivor benefits, vesting, funding, administration, and plan changes, including provisions intended to meet federal tax requirements.

Amending and restating the Ordinance approved July 12, 1968, as last amended effective January 1, 1999, 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.