Section 18-65 Contributions to the firefighters' retirement fund.
Prior to the adoption of Ord. 018160 on 07/06/2004, Section 18-65 read as follows.
(a) The contribution of each covered firefighter
employee shall be sixteen and twenty four
hundredths (16.24) per cent of
that 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.
In addition to the contribution set forth in subparagraph
(a) above, each covered
firefighter employee shall pay into the FRF an amount equal to that which he would be required
to pay if subject to Social Security tax. In addition to other employee contributions
set forth in
this section, each covered firefighter employee shall pay into the firefighters retirement fund
and eight hundredths (1.08) percent of the employee's compensation. This amount is to pay for
the 1997 improvements in disability retirement benefits and is subject to periodic adjustment.
(c) The contributions of covered firefighter employees
shall be deducted from their biweekly
paid to each by the administrator and placed in the FRF
firefighters retirement fund. Deduction of contributions shall be a term and condition
employment; acceptance and continuance in employment shall be deemed to be the assent of an
employee to deductions.
(d) The city shall pick up employee contributions required
of covered firefighter employees
for all compensation earned after the effective date of this provision. The contributions
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
Exclusive benefit; mistake of fact. Except
as otherwise provided in this plan, the trust
fund shall be retained for the exclusive benefit of 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 city the
amount of the city's contribution made by mistake of fact. The city shall pay into
retirement fund all amounts that are needed, in addition to the contributions of covered
firefighter employees, to make the fund actuarially and financially sound.
In addition to other employee contributions
set forth in this section, each covered
firefighter employee shall be assessed and be required to pay into the fund one and eight
hundredths (1.08) percent of the employee's compensation. This amount is to pay for the 1997
improvements in disability retirement benefits and is subject to periodic adjustment. The
administrator, shall return to the appropriate city fund any city contribution made by mistake.
(Code 1964, § 9.1930; Ord. No. 10299, § 1, 9-4-84; Ord. No. 18868, §
1, 2-4-91; Ord. No. 13117
§ 1, 9-16-91; Ord. No. 13555 § 1, 1-4-93; Ord. No. 13816 § 1, 9-20-93; Ord. No. 14597
§ 1, 8-21-95; Ord. No. 14982, § 1, 9-16-96; Ord. No. 15381, § 1, 10-6-97; Ord. No. 16614,
§ 1, 9-18-00; Ord. No.16632, § 1, 10-2-00)