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Council Moves Forward With Legislation To Close Pension Loophole

* 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.