DEFERRED RETIREMENT OPTION PLAN (DROP)
Controlled by Committee of the Whole
Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," by amending the options for retirement benefits; in particular, amending Section 22-310, entitled "Deferred Retirement Option Plan (DROP)," by making various changes to DROP to reduce its costs, including, but not limited to, changing eligibility requirements and the interest credited to DROP accounts; adding a new option for retirees to take a lump sum benefit at retirement, in exchange for an actuarial reduction of their regular monthly pension; and making conforming amendments to other provisions; all u
Read the full Bill: CertifiedCopy11044301.pdf
- (minutes) May 26, 2011: Introduced and Referred to the Committee of the Whole by CITY COUNCIL
- June 8, 2011: AMENDED by Committee of the Whole
- HEARING HELD by Committee of the Whole
- HEARING NOTICES SENT by Committee of the Whole
- REPORTED FAVORABLY, RULE SUSPENSION REQUESTED by Committee of the Whole
- (minutes) June 9, 2011: SUSPEND THE RULES OF THE COUNCIL by CITY COUNCIL
- ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR by CITY COUNCIL
- ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR by CITY COUNCIL
- (minutes) June 16, 2011: READ AND PASSED by CITY COUNCIL
- June 23, 2011: VETOED by MAYOR
- (minutes) Sept. 15, 2011: READ by CITY COUNCIL
- VETO OVERRIDDEN by CITY COUNCIL
- RECONSIDERED by CITY COUNCIL
Legislation that mentions this bill
- Bill 161013: Amending Title 22 of The Philadelphia Code, entitled "Public Employees Retirement Code," to create ...
- COMMUNICATION 161050: Transmitting a bill amending Title 22 of The Philadelphia Code, entitled "Public Employees Retiremen...
- COMMUNICATION 110593: June 23, 2011 To The President and Members of The Council of the City of Philadelphia: I a...
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Last action: Sept. 15, 2011
- Councilmember Krajewski
- Council President Verna
- Councilmember DiCicco
- Councilmember Kelly
- Councilmember Tasco
- Councilmember Miller
- Councilmember Reynolds Brown
- Councilmember Jones
- Councilmember Greenlee
- Councilmember O'Neill
- Council President Clarke
- Councilmember Quiñones Sánchez
- Councilmember Green