Each member hired before January 1, 2018 shall contribute five percent of the member's compensation each month to the Pension Fund, plus five dollars per month. Members hired on or after January 1, 2018 shall contribute seven percent of the member's compensation each month to the Pension Fund, plus one dollar per month.
With the approval of Council, a member who is making contributions and who served in the Armed Forces of the United States after September 1, 1940, and who was not a member of the Firemen's Pension Fund prior to such military service, shall be entitled to have full credit for each year or fraction thereof, not to exceed five years of continuous service, upon the member's payment to the Pension Fund of an amount equal to that which the member would have paid had the member been a member during the period for which the member desires credit, and upon the member's payment to the Pension Fund of an additional amount as the equivalent of the contribution of the employer, plus any interest the employer would have been required to pay on the contributions, on account of such military service.
(Ord. 4441. Passed 10-28-87; Ord. 5355. Passed 6-14-23.)