(a) Effective July 1, 2000, employees of the City of Geneva, described in division (b) of this section may purchase additional service credit, tax-deferred, and the City of Geneva shall withhold the required service credit deduction from the gross pay of each person who elects to do so, and shall pick up (assume and pay) such deduction to the Public Employees Retirement System of Ohio. A person electing this pick-up deduction shall not have the option of choosing to receive the payroll deduction directly instead of having this deduction picked up by the City of Geneva. Members who have elected to participate in this plan cannot increase, decrease or terminate the amount of the pick-up deduction.
(b) The pick-up deduction of the City of Geneva as provided by this section shall apply to all persons making the election within the following classes: All employees of the City of Geneva who are contributing members of the Public Employees Retirements System of Ohio.
(c) The Finance Director is hereby authorized and directed to implement the provisions of this section to effect the pick-up of the payroll deduction for the purchase of additional service credit to the Public Employees Retirements System of Ohio for the persons within the classes established in division (b) of this section.
(Res. 2776. Passed 5-22-00.)