(a) The City's method of payment of salary to the employees who are participants in the Public Employees Retirement System of Ohio and the Police and Firemen's Disability and Pension Fund is modified in order to provide for a salary reduction pick-up of employee contributions to the Public Employees Retirement System of Ohio and the Police and Firemen's Disability and Pension Fund.
(b) The total salary for each employee shall be the salary otherwise payable under the City policies. Such total salary of each employee shall be payable by the City in two parts:
(1) Deferred salary; and
(2) Cash salary.
(c) (1) 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 of Ohio and the Police and Firemen's Disability and Pension Fund to be paid as an employee contribution by that employee, and shall be paid by the City to the Public Employees Retirement System of Ohio and the Police and Firemen's Disability and Pension Fund on behalf of that employee as a "pick-up" and in lieu of the Public Employees Retirement System and the Police and Firemen's Disability and Pension Fund employee contribution otherwise payable by that employee.
(2) An employee's cash 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.
(d) The City shall compute and remit its employer contributions to the Public Employees Retirement System of Ohio and Police and Firemen's Disability and 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 subchapter shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
(Ord. 1-17. Passed 1-17-17.)