Council President Anna Verna just confirmed via press release that she will not seek another term representing the 2nd Councilmanic District in South Philadelphia.
"This has been my life’s work, so it has been a most difficult decision that I have made," Verna said in the release.
Verna, 79, has served 9 terms and been president for eleven years. She spent months deliberating over whether to run again and reportedly was concerned about two issues: the political controversy surrounding her participation in the DROP retirement program and whether she could maintain her position as president.
Verna will collect $584,777 from the Deferred Retirement Option Plan before her term ends in January 2012. The program allows workers to set a retirement date in up to four years, amass pension payments in an interest-bearing account and collect them in a lump sum in addition to their pensions.