Section 18-65 Contributions to the firefighters' retirement fund.
Prior to the adoption of Ord. 16632 on 10/02/2000, Section 18-65 read as follows.
Each covered firefighter employee shall be assessed and required to pay into the fund an
amount equal to the cost of twenty (20) year service retirement benefits as established herein less
six and seven tenths (6.7) per cent of the employee's compensation. The cost is hereby defined to
be the cost of a retirement benefit permitting the retirement of a covered employee with twenty
(20) years or more of covered service at the level of benefits herein established, less the cost of
retirement benefit at the established level allowing covered employees to retire at age sixty (60)
with twenty-five (25) years or more service in covered employment. 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 FRB, and shall be reported
to the city council by July first of each year. After October 1, 1996, tThe contribution
firefighter employee shall be ten and fifty-five sixteen and twenty four hundredths
( 10.55 16.24)
per cent of that employee's compensation.
(b) 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.
(c) The contributions of covered employees shall be deducted
from the biweekly compensation
paid to each by the administrator and placed in the FRF. 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.
(d) The city shall pick up employee contributions required
of fire 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 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.
(f) 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 seven hundredths (1.07)
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.
(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)