Saturday, March 28, 2015

Council Seeks To Close Pension Loophole

Councilman Frank DiCicco wants to close a pension loophole that allows city workers to count years of service in other municipalities toward their benefit.

Council Seeks To Close Pension Loophole

Councilman Frank DiCicco wants to close a pension loophole that allows city workers to count years of service in other municipalities toward their benefit.

The loophole has drawn criticism recently because it would allow Managing Director Camille Barnett, who will leave city government in June after two years, to pay about $120,000 into the city plan to receive an annual pension of $49,880.

DiCicco today is introducing legislation that would require five years of consecutive city service before a worker could enter the pension system. The legislation would be effective July 1 and would not impact Barnett.

“People can game the system,” DiCicco said. “This is not an attack on [Barnett]. This is a way of us being prudent.”

Harrisburg has taken notice of the perk as well. State Sen. Larry Farnese is drafting similar legislation on the state level.
 

About this blog
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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