Section 18-40 Contributions to the police retirement fund.
Prior to the adoption of Ord. 018160 on 07/06/2004, Section 18-40 read as follows.
(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 police employees
shall be deducted from
biweekly compensation paid to each by the administrator and placed in the PRF police
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.
Nothing herein shall be deemed to prevent
or prohibit the payment by covered
employees of the police department of the Social Security Tax under the Federal Old-Age and
Survivors Insurance Act. Such sums shall be paid by the police employee and collected by the
city as provided by law.
(d) The city shall pick up employee
contributions required of
covered police employees for all compensation earned after the effective date of this
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. Employee contributions picked-up by the city pursuant to this
provision shall be treated for all other purposes, in the same manner and to the same extent, as
employee contributions made prior to the effective date of this provision.
The effective date of this provision shall be the first day of the first pay period following
thirty (30) days after the city has received notification from the Internal Revenue Service that p
Pursuant to section 414(h) of the code, these employee contributions so picked up shall
included in gross income for tax purposes until such time as they are distributed by refund or
ed) 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
financially sound. Exclusive benefit; mistake of fact. Except as otherwise provided in this
the trust fund shall be retained for the exclusive benefit of covered employees and their
beneficiaries, shall be used to pay benefits to such persons, to pay administrative expenses to the
extent not paid by the city, and shall not revert to or inure to the benefit of the city.
trustee administrator, shall return
to the appropriate city fund the amount of the any
city 's contribution made by mistake of fact.
(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)