February 3, 1987
I do not think it right that the Philadelphia Board of Pensions and Retirement should invest funds in a foreign country. These funds were earned from Philadelphia taxpayers and should be invested here where plenty of Philadelphians need jobs, homes, etc. Don't throw the ball out of bounds. Phyllis M. Carpenter Philadelphia.
January 9, 1987 |
City Council yesterday overrode Mayor Goode's veto of a pension plan that saves $24 million annually through reduced benefits for new employees. The override vote came only after Council members agreed to back away from a controversial provision that would have let elected officials qualify for pensions more quickly then municipal workers. However, a provision that almost doubles the rate at which elected officials' benefits accumulate will apparently remain in place; the cost to the city is to be offset through higher payroll deductions.
March 7, 1989 |
In a decision expected to double the retirement benefits for some judges and cost the state more than $100 million, the Pennsylvania Supreme Court has ruled that the legislature illegally reduced the pensions of most state jurists. The ruling, dated Friday but released yesterday, could increase pensions for 287 of the 388 judges now on state courts, according to the court administrator's office. The remaining judges already were guaranteed higher pensions. "I think, in all honesty, while it's a victory for the judges, it's a victory for a free and independent justice system," said Henry T. Reath, an attorney for the judges.
May 18, 1986 |
Police arrested the executive director of the Philadelphia Board of Pensions and Retirement late Friday night after he swung a large wrench at them when they sought to question him about reckless driving in his 1984 Ferrari, authorities said. The city official, Anthony Witlin, 37, was punched in the eye and subdued by one of the officers whom Witlin had tried to hit with the 15-inch wrench, police detectives said. Police said the arrest climaxed a tangled series of events that began after valet parking officials at Garden State Park in Cherry Hill alleged tha Witlin had aimed his car at them and then sped off. He was then pursued, at various times, by race track personnel, Port Authority police and eventually Philadelphia police.
December 13, 1990 |
Racing to secure commitments of cash by tomorrow, the Goode administration began negotiations yesterday on a $300 million loan package that offers investors extraordinary safeguards, including first claim on city tax revenues. Representatives of the municipal pension fund, the state teachers' retirement system and a consortium of local banks met with city officials for 3 1/2 hours to discuss purchasing short-term notes. The talks were scheduled to resume today. Key issues remain unresolved, sources said, notably a demand by the banks that they be guaranteed repayment before other investors, and their insistence on long-range reforms in city government, including a control board to oversee municipal finances.
August 7, 1986 |
Five of eight former Department of Licenses and Inspection employees, who were arrested two weeks ago on charges of soliciting bribes to fix inspection reports, are seeking city pensions. Four of the men applied for the pensions yesterday and one did so last week, according to Peter G. Crescitelli, assistant director of the Board of Pensions and Retirement. But officials in the city's Law Department said the men will be ineligible for pensions until the charges against them are resolved in court.
July 23, 1988 |
The State Employees Retirement Board has refused to grant pensions to six former Philadelphia judges who took money from the Roofers Union and has stopped the pensions of two others implicated in the scandal. In explaining the first such action ever taken by the board, Acting Chairman William J. Moran said the state constitution prohibits the payment of pensions to judges who have been removed for misconduct. Savings to the retirement system were estimated at more than $250,000 annually.
May 27, 1992
The penalties for being a judge on the take in Pennsylvania just got a little bit lighter. The state's Supreme Court ruled last week that four former Philadelphia judges were entitled to their pensions, even though they were forced off the bench for taking cash from the roofers' union in the mid-'80s. One of the judges had actually been convicted of extorting bribes in return for fixing cases. But no matter. Reversing lower court decisions, as well as the State Employees' Retirement Board, the justices said the state constitution never envisioned yanking the pensions of judges who misbehave.
November 7, 2013 |
IN THE LATEST of a series of cost-cutting measures, the financially strapped Archdiocese of Philadelphia announced yesterday that it will freeze the pensions of lay employees beginning in July. Through an analysis of financial liabilities conducted last year, the Archdiocese determined that the Lay Employees' Retirement Plan was underfunded by about $150 million, according to a news release from the Archdiocese. "While the funding level is sufficient to meet the current and medium-term benefit payments, action must be taken now to ensure that the Plan can meet its long-term obligations to future retirees," the Archdiocese's statement read.
June 30, 1989 |
In rearguing its case against an increase in judicial pensions, the state Attorney General's Office has called for two state Supreme Court justices with a direct financial interest in the outcome to disqualify themselves when the court reconsiders the case. "Unless the people are confident that legal issues will be decided fairly and without reference to personal prejudice or the financial interests of the judges," the state wrote in its new brief, "their trust in the system will collapse.