(A) Beginning January 1, 1984, each city of the first class with police officers participating in a retirement system shall contribute to the retirement system a sum equal to 6% of each such participating police officer’s periodic salary.
(B) The payment shall be contributed as provided in § 35.079(A) for employee contributions and shall be credited to his or her employer account on a monthly basis.
(C) Each such account shall also be credited with regular interest.
(D) The city shall also contribute to the employer account of any police officer employed by the city on January 1, 1984, an amount equal to the employee contribution of the police officer that were made to the city prior to January 1, 1984, without interest, with the contribution to be made at the time the police officer retires or terminates employment with the city.
(E) The city may contribute the amount before the police officer’s retirement or termination of employment or credit interest on the contribution.
(Prior Code, § 30-66)
Statutory reference:
Similar provisions, see Neb. RS 16-1006