Chapter 18 PENSIONS*
Section 18-40 Contributions to the police retirement fund.
(a) Covered police employees shall be assessed and required
to pay into the fund three and
five-tenths (3.5) per cent of their 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, 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 paid 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
employees shall be deducted from
compensation and placed in the
police 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
police employees .
The contributions so picked-up shall be treated as employer contributions in determining tax
treatment under the code. The city shall pick up these contributions from funds established and
available, which funds would otherwise have been designated as employee contributions and
paid to the retirement fund.
ursuant 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
The city shall pay into the police retirement fund all amounts that are needed,
in addition to the contributions of covered police employees, to make the fund actuarially and
, shall return to the
city contribution made by
(Code 1964, § 9.1770; Ord. No. 9961, § 1, 10-3-88; Ord. No. 12868, § 1, 2-4-91; Ord.
§ 1, 6-7-93; Ord. No. 14982, § 1, 9-16-96; Ord. No. 15072, § 1, 12-2-96; Ord. No. 17444,
§ 1, 9-16-02; Ord. No. 018160, § 1, 7-6-04)
(Ord. 018160, Amended, 07/06/2004, Prior Text; Ord. 17444, Amended, 09/16/2002, Prior Text)