Title
Ordinance supplementing the Pittsburgh Code, Title One, Administrative, Article XI: Personnel, Chapter 192 - Pensions, by adding Chapter 192.44, so as to add language to prohibit pension enhancements for Municipal, Fire, and Police pensions, including retroactive enhancements.
Body
The Council of the City of Pittsburgh hereby enacts as follows:
Section 1. The Pittsburgh Code, Title One, Administrative, Article XI: Personnel, Chapter 192 - Pensions is hereby supplemented as follows:
§ 192.[44] .02 - Prohibition of Pension Enhancements
In order to continue the Act 47 initiatives regarding the City’s pension liabilities, the City shall make no enhancements to existing pension benefits, including retroactive benefits outside of the collective bargaining/arbitration process.
a. This includes any changes to eligibility and vesting requirements, as well as the payout formulas, that would lead to increased pension liability.
b. Service increment amounts, based on years of service over twenty, shall not be increased.
§ 191.03 - ELIGIBILITY.
(a) An employee shall have the required length of service for retirement or be eligible for disability retirement at the time of terminating City employment in order to be eligible for severance pay for accumulated sick leave days.
(b) Retirement eligibility, including disability, and early retirement, shall be determined pursuant to the applicable pension plans in effect for City employees.
(c) No benefit plan modification that increases any of the City’s benefit plans shall be adopted outside of the collective bargaining /arbitration process, unless the actuarial value of the assets of the pension plan are such that the pension plan is deemed “not distressed” or “minimal distress” as defined by state law.