City of Baltimore - File #: 06-0370

• File #: 06-0370
• Version: 0
• Name: Fire and Police Employees' Retirement System - DROP 2
• Type: Ordinance
• Status: Withdrawn
• File created: 4/4/2006
• In control: City Council
• Final action: 1/22/2007
• Title: Fire and Police Employees' Retirement System - DROP 2 FOR the purpose of providing a new deferred retirement option plan (DROP 2) for certain members of the Fire and Police Employees' Retirement System; clarifying certain provisions pertaining to the System's existing DROP; mandating the performance of a cost savings test by the System's actuary with regard to the DROP 2 benefit; providing the City with the option of legislatively modifying or terminating the DROP 2 benefit if certain cost savings are not realized; providing certain transitional rules; clarifying, correcting, and conforming certain language; providing for a special effective date; and generally relating to the Fire and Police Employees' Retirement System.
• Sponsors: City Council President (Administration)
• Indexes: DROP 2, Fire & Police Retirement Systems

Date	Ver.	Action By	Action	Result
2/12/2007	0	City Council	Withdrawn
1/22/2007	0	City Council	Withdrawn
1/22/2007	0	City Council	Failed
12/4/2006	0	Taxation and Finance Committee	Scheduled for a Public Hearing
11/13/2006	0	Taxation and Finance Committee	Scheduled for a Public Hearing
7/10/2006	0	Taxation and Finance Committee	Scheduled for a Public Hearing	Pass
6/5/2006	0	Taxation and Finance Committee	Scheduled for a Public Hearing	Pass
4/7/2006	0	The City Council	Referred for a Report
4/7/2006	0	The City Council	Referred for a Report
4/7/2006	0	The City Council	Referred for a Report
4/7/2006	0	The City Council	Referred for a Report
4/7/2006	0	The City Council	Referred for a Report	Pass
4/7/2006	0	The City Council	Referred for a Report
4/4/2006	0	City Council	Introduced
4/4/2006	0	City Council	Assigned

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

Introduced by: The Council President
At the request of: The Administration (Fire and Police Employees' Retirement System)

A BILL ENTITLED

AN ORDINANCE concerning
Title
Fire and Police Employees' Retirement System - DROP 2

FOR the purpose of providing a new deferred retirement option plan (DROP 2) for certain members of the Fire and Police Employees' Retirement System; clarifying certain provisions pertaining to the System's existing DROP; mandating the performance of a cost savings test by the System's actuary with regard to the DROP 2 benefit; providing the City with the option of legislatively modifying or terminating the DROP 2 benefit if certain cost savings are not realized; providing certain transitional rules; clarifying, correcting, and conforming certain language; providing for a special effective date; and generally relating to the Fire and Police Employees' Retirement System.
Body
BY repealing and reordaining, with amendments
Article 22 - Retirement Systems
Section(s) 36B(a)(i) and (ii), (c)(1) and (2), (e), (h), (i), (j)(4), (5), and (6), (k)(2), (m), (n), and (o)
Baltimore City Code
(Edition 2000)

BY adding
Article 22 - Retirement Systems
Section(s) 36C
Baltimore City Code
(Edition 2000)

SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That the Laws of Baltimore City read as follows:

Baltimore City Code

Article 22. Retirement Systems


§ 36B. Deferred Retirement Option Plan.

(a) Eligibi...