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File #: 2021-1531    Version: 1
Type: Resolution Status: Passed Finally
File created: 5/24/2021 In control: Committee on Finance and Law
On agenda: 5/25/2021 Final action: 6/1/2021
Enactment date: 6/1/2021 Enactment #: 364
Effective date: 6/7/2021    
Title: Resolution authorizing and directing the Director of Finance, acting as the Chief Administrative Officer of the employee's municipal pension plan, to perform an actuarial analysis in accordance with Act 205, 53 Pa.C.S. 895:305(a)(b) and Ordinance Pension Act of 1975, Section 8. Pension Allowance, Paragraph 4 (i), to determine the cost of eliminating the "Social Security Off-Set" for all active non-union employee members of the Municipal Pension Fund hired after June 30, 2004.
Sponsors: Theresa Kail-Smith, Anthony Coghill, Bruce A. Kraus
Attachments: 1. 2021-1531 Summary

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Resolution authorizing and directing the Director of Finance, acting as the Chief Administrative Officer of the employee’s municipal pension plan, to perform an actuarial analysis in accordance with Act 205, 53 Pa.C.S. 895:305(a)(b) and Ordinance Pension Act of 1975, Section 8. Pension Allowance, Paragraph 4 (i), to determine the cost of eliminating the “Social Security Off-Set” for all active non-union employee members of the Municipal Pension Fund hired after June 30, 2004.

 

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Be it resolved by the Council of the City of Pittsburgh as follows:

 

Section 1.                     The Director of Finance is hereby authorized and directed to perform an actuarial analysis in accordance with Act 205, 53 Pa.C.S. 895:305(a)(b) and Ordinance Pension Act of 1975, Section 8. Pension Allowance, Paragraph 4 (i), to determine the cost of eliminating the “Social Security Off-Set” for all active, non-union employee members of the Municipal Pension Fund hired after June 30, 2004.

 

Section 2.                     The actuarial study shall be completed and provided to Council no later than Sixty (60) days after the passage of this resolution.