Chapter 18 PENSIONS*
Section 18-93 Contributions to the police retirement fund.
(a) Covered police employees shall be
assessed and required to pay into the fund four and
five-tenths (4.5) percent of 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) of the city code. 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 their biweekly
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 of covered 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.
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
(d) 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
(e) The administrator, shall return to
the appropriate city fund any city contribution made by
(Ord. No. 21455, § 1, 9-17-12)
(Ord. 21455, Added, 09/17/2012)