READ AND PASSED

The enacted ordinance amends Philadelphia’s public employee retirement rules by creating Plan 16 for certain AFSCME District Council 33 employees hired or rehired on or after August 20, 2016, and allowing certain existing employees to elect into it. It also changes which employees can participate in the defined-contribution plan, adjusts contribution rates and benefit calculations, revises Deferred Retirement Option Plan rules and effective dates, and makes technical amendments.

Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," to create a new Plan, entitled "Plan 16," for certain employees, to expand the scope of "DC Plan" to cover additional employees, to change contribution rates for certain employees, to amend various provisions relating to the Deferred Retirement Option Plan ("DROP"), and to make technical amendments; and amending Bill No. 110443 (became law Sept. 15, 2011) to revise certain effective dates relating to the DROP; all under certain terms and conditions.