(A) For the purpose of creating and maintaining a fund for the payment of health care benefits payable as provided in this chapter, the city intends to pay to the fund an amount consistent with the actuarial valuations and calculations made by the actuary forthe fund to result in a pre-funded plan. The city reserves the right to fund these health care benefits on a "pay-as-you-go" basis. Such contributions shall also be made in accordance with any:
(1) Collective bargaining agreements between the collective bargaining associations and the city;
(2) PACT Employee Benefits and Personnel Policies;
(3) This fund; and
(4) Such other regulations of the Board of Trustees as are not inconsistent with the authority stated in this chapter.
(B) Benefit Groups, Police, Command and PACT, commencing January 1, 2003, all active employees shall contribute 2% of their gross wages on a pre-tax basis ("employer pick-up") to the fund.
(C) Subject to the tax provisions of the City Charter and state law, the city may, to the extent not set forth in the fund, use their discretion to decide the manner and means of payments, the procedures to be followed in making the payments and the forms required to accompany the payments to the trustees.
(D) Time is of the essence in making and processing all payments to the fund. The parties recognize that the regular and timely payments of contributions are essential to the operation of the fund and to the providing of benefits under various insurance programs.
(Ord. 886, passed 11-11-02)