(A) Each active member shall contribute a sum equal to 8% of current salary. The Director of Finance is hereby directed to deduct such amount from the salary of each active member in biweekly installments. This contribution shall be made as deductions from salary, not withstanding that the salary paid in cash to such member may be reduced thereby below the established statutory rate. Every member of the fund shall be deemed to consent and agree to the deduction from salary as herein provided, and shall receipt for his full salary, and payment to such member of salary less such deduction shall constitute a full and complete discharge and acquittance of all claims and demands whatsoever for the service rendered by such member during the period covered by such payment, except as to the benefits herein provided.
(B) The effective date of the contribution of the 8% sum is July 15, 1986 and active members will have contributed 3% from July 15, 1986 to July 15, 1987 and the other 5% will be contributed by the city at the rate of 1% per year from the fiscal years 1988—89; 1989—90; 1990—91; 1991—92 and 1992—93 which is to be so budgeted and paid out of the general fund in the first quarter of each fiscal year. The city shall have paid into the fund its current share (§ 36.090) by January 2, 1988.
(Ord. 87-26, passed 7-28-87)