Title
Ordinance supplementing the Pittsburgh Code, Title One, Administrative, Article XI, Personnel, Chapter 192, Pensions, Section 192.26 "Pension Allowance."
Body
WHEREAS, in order to provide an additional benefit for employees of the City of Pittsburgh who participate in Municipal Benefit Plans Nos. 1 and 2 who have not yet reached age sixty (60) or attained twenty (20) years of service, but whose attained age plus years of service equals or exceeds seventy (70), and elect to retire before January 31, 2014, it has been determined that the City will temporarily enhance its pension plan to permit such employees to retire and immediately receive their pensions without reduction; and
WHEREAS, the City desires to supplement Section 192.26, "PENSION ALLOWANCE", in order to accomplish such objective;
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 supplemented by adding subsection (i) thereto, which reads as follows:
(i) Notwithstanding the provisions of subsections (a) and (b) of this Section 192.26, the amount of the monthly pension of a member (1) who is less than sixty (60) years of age or has not attained twenty (20) years of service, (2) who submits to the Board a written application for pension, on a form prescribed by the Board, on or before January 31, 2014 electing to retire, (3) who actually terminates his or her employment with the City on or before January 31, 2014, and (4) whose attained age plus years of credited service as of such termination date equals or exceeds seventy (70), shall be calculated pursuant to subsection (a)(1) of this Section 192.26 without reduction either because the employee is not sixty (60) years of age or has not attained twenty (20) years of service ("Full Pension"). By way of example, if the employee is fifty-nine (59) years of age and ...
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