EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL 09-0295
Introduced by: The Council President
At the request of: The Administration (Department of Finance)
A BILL ENTITLED
AN ORDINANCE concerning
Title
Fire and Police Employees' Retirement System - Benefits
FOR the purpose of amending provisions of the Fire and Police Employees' Retirement System law pertaining to the Deferred Retirement Option Plan ("DROP") benefits; clarifying, correcting, and conforming certain technical provisions of the existing DROP benefits law; discontinuing the current DROP benefit structure for all System members not yet eligible for DROP participation and establishing a new DROP 2 benefit structure for System members; providing for certain tests to be conducted to determine the savings to the City of enacting the DROP 2 benefit; giving the City the option to modify or terminate the DROP 2 benefit under certain conditions; clarifying, correcting, and conforming certain provisions; providing for a special effective date; and generally relating to the Fire and Police Employees' Retirement System of the City of Baltimore.
Body
BY repealing and reordaining, with amendments
Article 22 - Retirement Systems
Section(s) 36B(a)(i) and (ii), (c), (e), (h),
(i), (j), (k)(2), (l)(1), (m), (n), and (o)
Baltimore City Code
(Edition 2000)
BY adding
Article 22 - Retirement Systems
Section(s) 34(e-1)(4) and (f-1)(4), 36B(a)(viii), and 36C
Baltimore City Code
(Edition...
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