§ 39.248  ACCUMULATED CONTRIBUTIONS ACCOUNTS.
   (a)   The accumulated contributions accounts shall be the accounts in which shall be accumulated, at regular interest, the contributions deducted from the compensations of members and from which shall be made refunds and transfers of accumulated contributions as provided in this plan.
   (b)   The contribution of a general member shall be 3% of the employee's compensation and the contribution of a police officer member shall be 8% of the employee's compensation. Effective January 6, 2014, the contribution of a general member shall be 4% of the employee's compensation; effective January 5, 2015, the contribution of a general member shall be 5% of the employee's compensation. Effective January 6, 2014, the contribution of a police officer member shall be 9% of the employee's compensation; effective January 5, 2015, the contribution of a police officer member shall be 10% of the employee's compensation.
   (c)   The officer responsible for making the payroll shall cause the contributions provided in division (b) above to be deducted from the compensation of each member on each and every payroll, for each and every payroll period, so long as he or she remains a member in the employ of the city. The members' contributions provided for in this section shall be made notwithstanding that the minimum compensation provided by law for any member shall be changed thereby. Every member shall be deemed to consent and agree to the deductions made and provided for in this section, and payment of his or her compensation less the deductions shall be a full and complete discharge and acquittance of all claims and demands whatsoever for the services rendered by him or her during the period covered by the payment, except as to benefits provided by this subchapter. The contributions when deducted from the compensation of a member shall be credited to his or her individual account in the accumulated contributions accounts.
   (d)   At the expiration of a period of four years from and after the date a member's employment by the city terminated, any balance in his or her accumulated contributions account, unclaimed by him or her or his or her legal representative shall  remain with the retirement system, provided that no retirement allowance will become payable by the retirement system on his or her account.
   (e)   In addition to the contributions deducted from the compensation of a member as provided in this section, the member shall pay into the accumulated contributions accounts, by a single contribution within six months after the date of reemployment, the amount required to be repaid by § 39.223. In no case shall any member be given credit for service rendered prior to the date the member withdrew the accumulated contributions until the member repays to the accumulated contributions accounts all amounts due the accumulated contributions accounts by the member.
   (f)   (1)   The city shall pick up the member contribution required by division (b) above for all compensation earned after the effective date of this division (f). The contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code. The city shall pick up the member contributions from funds established and available in the salaries account, which funds would otherwise have been designated as member contributions and paid to the retirement system. Member contributions picked up by the city pursuant to this division (f) shall be treated for all other purposes of this and other laws of the city in the same manner and to the same extent as member contributions made prior to the effective date of this division (f).
      (2)   Member contributions to the retirement system shall be paid by the city on behalf of all members. Payment of the member's contribution picked up by the city shall be made by reducing the amount of the compensation payable to those members and making payment of the amount directly to the retirement system. Contributions, although designated as member contributions, are being paid by the city in lieu of contributions by the members. Members do not have the option of choosing to receive the contributed amounts directly instead of having them paid by the city to the retirement system.
      (3)   The effective date of this division (f) shall be the first day of the first pay period after the city has received notification of approval from the Internal Revenue Service that, pursuant to § 414(h) of the United States Internal Revenue Code, the member contributions so picked up shall not be included in gross income for tax purposes until that time as they are distributed by refund or benefit payment, but the effective date shall not be prior to December 15, 2003.
(1957 Rev. Ords., § 2.531; 1992 Code, § 35-43)  (Ord. 12-74, passed 4-8-1974; Ord. 123-78, passed 12-26-1978; Ord. 112-80, passed 11-24-1980; Ord. 125-81, passed 12-28-1981; Ord. 108-85, passed 12-2-1985; Ord. 58-86, passed 6-9-1986; Ord. 64-86, passed 6-30-1986; Ord. 18-89, passed 2-27-1989; Ord. 110-90, passed 12-3-1990; Ord. 88-91, passed 11-25-1991; Ord. 66-94, passed 7-25-1994; Ord. 22-98, passed 2-17-1998; Ord. 54-02, passed 7-8-2002; Ord. 05-04, passed 1-12-2004; Ord. 24-13, passed 5-7-2013; Ord. 118-16, passed 12-20-2016)