(a) Civilian Pension Fund. All full-time civilian employees of the City who work or expect to work 1,000 hours or more per year must join the Public Employees Retirement Fund (PERF) on the first day of hire. Two separate and distinct contributions are made to PERF on behalf of civilian employees.
(1) Employer contribution. A percentage of each eligible employee's gross wages, such percentage to be designated annually by PERF, is deposited into the PERF pension fund. These payments are not credited to an individual employee's account. Employees must meet service and/or age requirements to be eligible for a PERF pension.
(2) Employee contribution. An amount equal to 3% of each eligible employee's gross wages shall be deposited into an annuity account for that particular employee. PERF shall produce periodic statements for each annuity account.
a) Effective through December 31, 1997, 3% of the gross wages of each such employee shall be deducted from that employee's salary as that employee's PERF contribution.
b) Effective on and after January 1, 1998, an amount equal to 3% of the gross wages of each such employee shall be contributed to PERF by the City in lieu of such employee's own contribution.
c) Deposits made to an annuity account by an employee, or by the City on behalf of an employee, may be refunded to the employee upon termination of employment with the City and application to PERF.
(b) Police and Fire Pension Fund. All full-time sworn employees of the City must join the Police Officers' and Firefighters' Pension and Disability Fund (or a successor fund) on the first day of hire. Two separate and distinct contributions are made to PERF on behalf of sworn employees.
(1) Employer contribution. A percentage of a first class officer's base pay (including 20 years of longevity pay), such percentage to be designated annually by PERF, is deposited into the pension fund on behalf of each employee. These payments are not credited to an individual employee's account. Employees must meet service and/or age requirements to be eligible for a PERF pension.
(2) Employee contribution. An amount equal to 6% of a first class officer's base pay (including 20 years of longevity pay) shall be deposited into an annuity account for each eligible employee. The City may elect to pay any or all of the employee contribution. PERF shall produce periodic statements for each annuity account.
a) Effective through November 29, 2001, the employee contribution shall be deducted from the employee's salary on an after-tax basis.
b) Effective on and after November 30, 2001, the portion of the employee contribution paid by the employee shall be deducted from the employee's salary on a pre-tax basis.
c) Effective through December 31, 2008, the entire 6% employee contribution shall be deducted from each employee's salary.
d) Effective on and after January 1, 2009, the City shall pay a portion of the employee contribution equal to 21% less the employer contribution; the remaining portion of the employee contribution shall be deducted from the employee's salary. If the employer contribution equals or exceeds 21%, the City shall pay no portion of the employee contribution.
e) Deposits made to an annuity account by an employee may be refunded to the employee upon termination of employment with the City and application to PERF, if the employee's plan allows for refunds.
(`91 Code, § 2-48) (Ord. D-398, § (k), 3-5-84; Ord. D-1000, § 1, 6-21-93; Res. CC-02-19-96-02, 2-19-96; Ord. D-1310-97, 8-4-97; Ord. D-1525-01, § I, 10-15-01; Ord. D-1900-08, 8-4-08; Ord. D-1920-08, § 3, 12-15-08; Ord. D-2051-11, As Amended, 12-5-11; Ord. D-2067-11, 11-7-11)