(a) For the categories of city employees listed in subsection (d) hereof, the contributions required to be made by each such employee to the Ohio Public Employees Retirement System (PERS), the Firemen’s Relief and Pension Fund or the Police Relief and Pension Fund, as an employee contribution under Ohio R.C. Chapters 145 or 742, shall be paid by the city, on behalf of the employee, in lieu of a contribution by the employee and in accordance with this section.
(b) The total compensation payable by the city to each such employee in any pay period shall be reduced by the amount payable by the city to PERS, the Firemen’s Relief and Pension Fund or the Police Relief and Pension Fund on behalf of each such employee under subsection (a) hereof.
(c) This section shall apply to all employees in the categories listed in subsection (d) hereof, and no such employee shall have the option to receive direct payment of the amounts contributed by the city to PERS, the Firemen’s Relief and Pension Fund or the Police Relief and Pension Fund on his or her behalf instead of having them contributed to PERS, the Firemen’s Relief and Pension Fund or the Police Relief and Pension Fund.
(d) This section shall apply to all officials and/or employees, other than elected officials, who choose to participate in the program.
(e) The Finance Director, or his or her designee, is hereby directed to do everything necessary and appropriate to initiate implementation of this section, including, but not limited to, making applications to the Internal Revenue Service for private letter rulings concerning federal tax treatment of this plan, and making applications to the appropriate state retirement boards.
(f) Subject to any requirement imposed by the Internal Revenue Service, the Ohio PERS Board, the Fireman’s Relief and Pension Fund Board or the Police Relief and Pension Fund Board, this section shall apply to all payroll payments payable by the city to employees after December 31, 1987; provided that, such payments shall be effective only so long as they are approved by such retirement boards or their agents.
(Ord. 88-O-75, passed 10-17-1988; Am. Res. 04-R-14, passed 3-15-2004; Am. Res. 04-R-23, passed 5-3-2004; Am. Res. 04-R-24, passed 5-3-2004; Am. Res. 13-R-14, passed 5-20-2013; Am. Res. 13-R-15, passed 5-20-2013)