Bill 150234

..Title Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," by amending Section 22-301, entitled "Service Retirement Benefits," and Section 22-401, entitled "Service-Connected Disability Retirement Benefits," to add new subsections requiring a specified minimum monthly benefit amount for certain retired Fire employee members, under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Title 22 of The Philadelphia Code is hereby amended to read as follows: TITLE 22. PUBLIC EMPLOYEES RETIREMENT CODE. * * * CHAPTER 22-300. RETIREMENT BENEFITS. § 22-301. Service Retirement Benefits. * * * (7) Notwithstanding the provisions of §22-301(3), a member of Plan A, Plan X or a Fire employee member of Plan '10, who has retired or hereafter retires with twenty (20) or more years of credited service, shall receive a retirement benefit of at least $1,000 per month. Such minimum monthly payment shall be required only as to the member's initial unadjusted monthly benefit amount, prior to the application of any distribution option or early retirement option, and prior to any division of the benefit as a result of any court order, including a Domestic Relations Order, or an agreement by the member. * * * CHAPTER 22-400. DISABILITY BENEFITS. § 22-401. Service-Connected Disability Retirement Benefits. * * * (4) Benefit Amount. Upon retirement for service-connected disability, a member shall receive an annual retirement benefit equal to seventy percent (70%) of the member's final compensation, as it may be adjusted by § 22-401(5) and § 22-306, subject to the provisions of § 22-403 (Reexamination of Disabled Members). The member may also elect to receive either a lump-sum payment equal to the member contributions to the Retirement System or, in lieu thereof, any survivor benefit option available to the member's plan under § 22-306. The member's election shall be irrevocable. A member of Plan D, Plan J, Plan A, Plan B, or Plan X or a police or fire member of Plan '10 who fails to make the foregoing election prior to retirement will be deemed to have elected Option 4. * * * (c) A member of Plan A, Plan X or a Fire employee member of Plan '10, who has retired or hereafter retires for service-connected disability, shall receive a retirement benefit of at least $1,000 per month, subject to the provisions of § 22-401(4)(a). Such minimum monthly payment shall be required only as to the member's initial unadjusted monthly benefit amount, prior to the application of any distribution option and prior to any division of the benefit as a result of any court order, including a Domestic Relations Order, or an agreement by the member. SECTION 2. Effective Date. This Ordinance shall take effect 30 days after it becomes law. ___________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End