(a) Effective January 14, 1994 the full amount of the statutorily required contribution to the Public Employees Retirement System of Ohio shall be paid by the Municipality for each person within any of the classes established in subsection (b) hereof and shall be "picked up" (assumed and paid to the Public Employees Retirement System of Ohio) by the Municipality. This "pick up" by the Municipality is, and shall be designated as, public employee contributions and shall be in lieu of contributions to the Public Employees Retirement System of Ohio by each person within any of the classes established in subsection (b) hereof. No person subject to this "pick up" shall have the option of choosing to receive the statutorily reqmred contribution to the Public Employees Retirement System of Ohio directly instead of having it "pick up" by the Municipality or of being excluded from the "pick up".
(1) The Municipality shall, in reporting and making remittance to the Public Employees Retirement System of Ohio, report that the public employee's contribution for each person subject to this "pick up" has been made as provided by the statute.
(b) The "pick up" by the Municipality provided by this section shall apply to the City Manager, in accordance with his employment agreement effective January 14, 1994.
(c) The Municipality's method of payment of salary to the referenced employee who is a participant in PERS is hereby modified as follows: in order to provide for a fringe benefit pick up of employee contributions to PERS.
(d) The total salary for the employee shall be the salary otherwise payable under the Municipality's policies. Such total salary of such employee shall be payable by the Municipality in two parts: (1) deferred salary and (2) cash salary. The employee deferred salary shall be equal to that percentage of that employee's total salary which is required from time to time by PERS to be paid by the Municipality to PERS on behalf of the employee as a pick up and in lieu of the PERS employee contribution otherwise payable by that employee. The employee cash salary shall be equal to that 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 Municipality shall compute and remit its employer contributions to PERS based upon an employee's cash salary.
(e) 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 of Ohio for the person reflected in subsection (b) hereof so as to enable him to obtain the result in Federal and State tax deferments and other benefits. (Ord. 21-20. Passed 6-7-21.)