Sunday, July 5, 2015

Council Moves Forward With Legislation To Close Pension Loophole

* This story has been updated.

Council Moves Forward With Legislation To Close Pension Loophole

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* This story has been updated.

A City Council committee today approved legislation to close a pension loophole that will allow outgoing Managing Director Camille Barnett to buy into the system after just two years service.

Barnett, who is set to leave the city government June 30, can legally receive a lifetime pension of $49,880 if she pays $120,451 into the system. The perk is available due to rules that allow employees to count service in other municipalities.

Under the new legislation, proposed by Councilman Frank DiCicco, employees must serve for five years before they could buy into the pension program.

The Nutter administration supported the legislation, which must now go to full Council for final approval. Mayoral Spokesman Doug Oliver said Barnett has not yet decided whether or not she will buy into the pension.

*UPDATE: Oliver told us that Barnett has, in fact, paid into the system and will receive an annual pension of about $49,000. According to city data, she made a six-figure payment into the system on April 15.

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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