(a) There is hereby authorized and adopted a pick-up plan under which the Village shall pick up four and one-half percent of the contributions of the covered employees (excluding elected officials and certain part-time employees) to the Public Employees Retirement System of Ohio (PERS).
(b) The pick-up plan is intended to comply with the requirements of Section 414(h)(2) of the Internal Revenue Code of 1986, as amended.
(c) The aforementioned pick-up is mandatory and no covered employee shall have the option of choosing to receive the contributed amounts directly instead of having them paid by the Village to PERS.
(d) The Village specifically acknowledges that the contributions, although designated as employee contributions for purposes of PERS, are to be paid by the Village in lieu of contributions by its covered employees.
(e) The Village shall pay to PERS the contributions designated as employee contributions from the same source of funds as used in paying salaries.
(f) The pick-up by the Village, as provided for in this section, shall apply to the following covered employees: all full-time PERS employees, including the part-time dispatchers hired prior to May 11, 2005, but excluding Village officials.
(g) The Chief Fiscal Officer is hereby directed, as of the effective date of this section, to implement all procedures necessary in the administration of the pay of all persons described in subsection (f) hereof to effect the pick up of a portion of the statutorily required contributions to PERS so as to enable the aforementioned covered employees to obtain the resulting Federal and Ohio tax deferments and other attendant benefits.
(h) The pick-up plan as hereinbefore set forth may be amended from time to time to satisfy any additional requirements which may arise as a result of any future amendment to Section 414(h)(2) of the Internal Revenue Code of 1986, as amended.
(i) The portion of the covered employees' mandatory contributions to be picked up by the Village may be changed from time to time by legislation adopted by Council.
(j) Pursuant to the authority of Section 254.21(i), the portion of the covered employees' mandatory contribution to be picked up, via salary reduction, by the Village (specifically payments of PERS contributions) for the following employees shall be suspended from July 26, 2009 to July 25, 2010: Service Department mechanic, foremen, laborers and bus driver; Administrative Assistant to the Chief and Police Services; Administrative Assistant to the Mayor;Administrative Accounting Assistant, and Chief Fiscal Officer.
(Res. 2000-61. Passed 4-26-00; Ord. 2009-104. Passed 7-8-09; Ord. 2010-71. Passed 7-14-10; Ord. 2017-83. Passed 12-13-17; Ord. 2018-32. Passed 3-14-18.)