Section 18-40 Contributions to the police retirement fund.
Prior to the adoption of Ord. 17444 on 09/16/2002, Section 18-40 read as follows.
overed police employees shall be assessed and required to pay into the fund
of their compensation.
fifty (50) per cent of the excess of the rate of contributions for the base
plan benefits over twenty-two and forty-four hundredths (22.44) per cent of his applicable rate of
pay as determined by the annual actuarial report required by this section. In addition, each
covered police employee shall be assessed and required to pay into the fund all the cost of the
enhanced plan benefits (as defined in section 18-41) in excess of the city contribution toward the
enhanced plan benefits of one and six-tenths (1.6) per cent of the base of active payroll. (This
amount is to pay for the 1996 enhancement of benefits and is subject to annual adjustments.) The
calculation of the respective costs of providing and maintaining these benefits shall be calculated
annually by an actuary chosen by the administrator upon the recommendation of the PRB, and
shall be reported to the city council by July 1 of each year. The cost of enhanced plan benefits
shall be calculated by subtracting the cost of the actuarial determined rate of the base plan
benefits from the cost of the actuarial determined rate of the enhanced plan benefits.
(b) The contributions of covered employees shall be deducted
from the biweekly
compensation paid to each by the administrator and placed in the PRF. 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) 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 police employees for all
compensation earned after the effective date of this provision. 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 at least
thirty (30) days after the city has received notification from the Internal Revenue Service that
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
(e) Exclusive benefit; mistake of fact. Except as otherwise
provided in this plan, 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. The trustee, shall return to the
the amount of the 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. No. 13698
§ 1, 6-7-93; Ord. No. 14982, § 1, 9-16-96; Ord. No. 15072, § 1, 12-2-96)