A. Employee contributions to the fund shall be deemed to have been paid by the employer, the City, in lieu of compensation to the employee.
B. Employees do not have the option of choosing to receive the contributed amount directly in lieu of having them paid by the employer to the fund.
C. Employee contributions to the fund treated in the manner set forth in Subsection A shall be excluded from wages for the purpose of determining individual employee federal income tax deduction of municipal wages earned.
D. This program shall not be applicable to any other federal, state, or local payroll taxes. The deductions in all other instances shall occur per applicable schedule on compensation earned by the employee.
E. The earnings used to calculate the benefits received by an employee, at the time he or she withdraws from the fund or is eligible to receive a pension benefit, shall not be affected by the provisions of this section. The earnings used to calculate the benefit shall be actual earnings received as set forth in § 62-206 of this part.
F. The provisions of this section shall not act to increase the City's contribution rate to the pension program.