Section 18-106 Contributions to the firefighters' retirement fund.

    (a)    The contribution of each covered firefighter employee shall be four (4) percent of the employee's compensation. "Compensation," as used in this subsection, includes salary, wages, overtime pay, amounts contributed to a cafeteria plan under Code Section 125, amounts contributed to a deferred compensation plan under Code Section 457, and any amounts contributed to this plan on behalf of a covered employee and picked up by the city under Code Section 414(h), sick leave buy back payments, automobile allowance payments, and cash in lieu of vacation payments under section 19-129(b). Compensation does not include payment for unused vacation days or unused floating holidays, workers compensation payments, safety awards, or any other payment or benefit not listed in this subsection.

    (b)    The contributions of covered firefighter employees shall be deducted from their biweekly compensation and placed in the firefighters' retirement fund. Deduction of contributions shall be a term and condition of employment; acceptance and continuance in employment shall be deemed to be the assent of an employee to deductions.

    (c)    The city shall pick up employee contributions required of covered firefighter employees. The contributions so picked-up shall be treated as employer contributions in determining tax treatment under the code. The city-shall pick up the contributions from funds established and available, which funds would otherwise have been designated as employee contributions and paid to the retirement fund.

    Pursuant to section 414(h) of the Code, these employee contributions so picked up shall not be included in gross income for tax purposes until such time as they are distributed by refund or benefit payment.

    (d)    The city shall pay into the firefighters' retirement fund all amounts that are needed, in addition to the contributions of covered firefighter employees, to make the fund actuarially and financially sound.

    (e)    The administrator shall return to the appropriate city fund any city contribution made by mistake.

(Ord. No. 21455, § 1, 9-17-12)

(Ord. 21455, Added, 09/17/2012)