(a) Public Employees Retirement System (P.E.R.S.).
(1) Effective January 1, 2001, the full amount of the statutorily required contributions to the Public Employees Retirement System of Ohio PERS shall be withheld from the gross pay of each person within any of the classes established in paragraph (a)(3) hereof and shall be “picked-up” (assumed and paid to the Public Employees Retirement System of Ohio) by the City.
This “pick-up” by the City is, and shall be designated as, employee contributions and shall be in lieu of contributions to the Public Employees Retirement System by each person within any of the classes established in paragraph (a)(3) hereof. No person subject to this “pick-up” shall have the option of choosing to receive the statutorily required contribution to the Public Employees Retirement System directly instead of having it “picked- up” by the City or being excluded from the “pick-up”.
(2) The City shall, in reporting and making remittance to the Public Employees Retirement System, report that the public employee's contribution for each person subject to this “pick-up” has been made as provided by statute.
(3) The “pick-up” by the City provided by this section shall apply to all persons who are employees of the City who are or become contributing members of the Public Employees Retirement System.
(4) The City's method of payment of salaries to employees who are participants in the Public Employees Retirement System is hereby modified as follows, in order to provide for a salary reduction method of “pick-up” of employee contributions to the Public Employees Retirement System:
A. The total salary for each employee shall be the salary otherwise payable under City policies. Such total salary of each employee shall be payable by the City in two parts: (a) deferred salary and (b) cash salary. An employee's deferred salary shall be equal to that percentage of that employee's total salary which is required from time to time by the Public Employees Retirement System to be paid as an employee contribution by that employee and shall be paid by the City to the Public Employees Retirement System on behalf of that employee as a “pick-up” and in lieu of the Public Employees Retirement System employee contribution otherwise payable by that employee.
B. An employee's cash salary shall be equal to the employee's total salary less the amount of the “pick-up” for that employee, and shall be payable, subject to applicable payroll deductions, to that employee. The City shall compute and remit its employer contributions to the Public Employees Retirement System based upon an employee's total salary. The total combined expenditures of the City for such employees' total salaries payable under applicable City policies and the “pick-up” provisions of this section shall not be greater than the amounts the City would have paid for these items had this provision not been in effect.
(5) The Finance Director is hereby authorized and directed to implement the provisions of this section to institute the “pick-up” of the statutorily required contributions to the Public Employees Retirement System for those persons reflected in paragraph (a)(3) hereof so as to enable them to obtain the result of Federal and State tax deferments and other benefits.
(Ord. 28-00. Passed 12-18-00.)
(b) Ohio Police and Fire Pension Fund (O.P.F.P.F.).
(1) Effective January 1, 2001, the full amount of the statutorily required contributions to the Ohio Police and Fire Pension Fund O.P.F.P.F. shall be withheld from the gross pay of each person within any of the classes established in paragraph (b)(3) hereof and shall be “picked-up” (assumed and paid to the Police and Fire Pension Fund) by the City. This “pick-up” by the City is, and shall be designated as, employee contributions and shall be in lieu of contributions to the Police and Fire Pension Fund by each person within any of the classes established in paragraph (b)(3) hereof. No person subject to this “pick-up” shall have the option of choosing to receive the statutorily required contribution to the Police and Fire Pension Fund directly instead of having it “picked-up” by the City or being excluded from the “pick-up”.
(2) The City shall, in reporting and making remittance to the Police and Fire Pension Fund, report that the public employee's contribution for each person subject to this “pick-up” has been made as provided by statute.
(3) The “pick-up” by the City provided by this section shall apply to all persons who are employees of the City who are or become contributing members of the Police and Fire Pension Fund.
(4) The City's method of payment of salaries to employees who are participants in the Police and Fire Pension Fund is hereby modified as follows, in order to provide for a salary reduction method of “pick-up” of employee contributions to the Police and Fire Pension Fund:
A. The total salary for each employee shall be the salary otherwise payable under City policies. Such total salary of each employee shall be payable by the City in two parts: (a) deferred salary and (b) cash salary. An employee's deferred salary shall be equal to that percentage of that employee's total salary which is required from time to time by the Police and Fire Pension Fund to be paid as an employee contribution by that employee and shall be paid by the City to the Police and Fire Pension Fund on behalf of that employee as a “pick-up” and in lieu of the Police and Fire Pension Fund employee contribution otherwise payable by that employee.
B. An employee's cash salary shall be equal to the employee's total salary less the amount of the “pick-up” for that employee, and shall be payable, subject to applicable payroll deductions, to that employee. The City shall compute and remit its employer contributions to the Police and Fire Pension Fund based upon an employee's total salary. The total combined expenditures of the City for such employees' total salaries payable under applicable City policies and the “pick-up” provisions of this section shall not be greater than the amounts the City would have paid for these items had this provision not been in effect.
(5) The Finance Director is hereby authorized and directed to implement the provisions of this section to institute the “pick-up” of the statutorily required contributions to the Police and Fire Pension Fund for those persons reflected in paragraph (b)(3) hereof so as to enable them to obtain the result of Federal and State tax deferments and other benefits.
(Ord. 30-00. Passed 12-18-00; Ord. 1-04. Passed 2-16-04; Ord. 2-04. Passed 3-15-04.)