Presenter
Presented by Ms. McDonald
AS AMENDED
Title
An Ordinance amending and supplementing the Pittsburgh Code, Title I: Administrative; Article XI, Personnel, Chapter 192: Pensions, Section 192.26 PENSION ALLOWANCE by adjusting certain wording in 192.26 (a) (4), (f) and (g).
Body
Be it resolved that 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, Section 192.26 PENSION ALLOWANCE is hereby amended and supplemented by adjusting certain wording in 192.26 (a) (4), (f) and (g) as follows;
192.26 (4) Pensions for members who were employees members of the plan that had elected to receive their retirement benefit who terminated employment on or before December 31, 2001 shall be reduced upon his or her attainment of age 65 by an amount equal to 50% of the primary insurance amount paid or payable to him under the Federal Social Security Act and subject to the following provisions:
192.26 (f) The provisions of 192.26(a) (4) above will not apply to the computations of pension members of Municipal Plan No. 2 who are City employees members of the pension plan that have not chosen to receive retirement on or prior to December 31, 2001 and retire on or after January 1, 2002 and retire on or after such date.
192.26 (g) Members of Municipal Benefit Plan No. 1 who are City employees members of the pension plan that have not chosen to receive retirement on or prior to December 31, 2001 and on or after January 1, 2002 and retire thereafter may irrevocably elect to have their pensions calculated without the social security offset currently applicable to Municipal Benefit No. 1 but subject to the reduction provided in for 192.26(a) (5). The election of this benefit change must be made within 30 days after the effective date of this legislation between November1 and December 1, 2001.