(A) The City will continue to participate in the Ohio Police and Fire Pension Fund as provided in the Ohio Revised Code.
(B) As long as the City participates in a pension "pick-up" plan in accordance with Internal Revenue Service regulations and Ohio Attorney General opinions, as permitted by law, State and Federal Income Taxes on employee pension contributions by all bargaining members may be deferred.
(C) Effective with the first full pay period of January 2012 the City will pay six percent (6%) of the employee's pension contribution, and the employee shall be responsible for the remaining percentage. In January of 2012, the employee receiving a reduction in pension pickup will receive a separate lump sum check in the amount of fifteen hundred dollars ($1,500).
(D) Effective with the first full pay period of January 2013 the City will pay three percent (3%) of the employee's pension contribution, and the employee shall be responsible for the remaining percentage. In January of 2013, the employee receiving a reduction in pension pickup will receive a separate lump sum check in the amount of fifteen hundred dollars ($1,500).
(E) Effective with the first full pay period of January 2014 the City will pay zero percent (0%) of the employee's pension contribution, and the employee shall be responsible for the remaining percentage, if any. This reduction in pension pickup by the City is in exchange for a three percent (3%) increase in the spread, effective in the first full pay period of January 2014, as contained in Section 2113.70(C).
(F) Members entering the bargaining unit after the annual lump sum payment date will receive a prorated amount equal to one hundred twenty-five dollars ($125.00) per month for each month in which they work in the new classification, payment for which shall be made within thirty (30) days after the effective date of the promotions.
(G) Any member who elects to return on or before January 31, 2014 shall receive an additional one time lump sum payment of seven hundred and fifty dollars ($750.00) payable by a separate check in the pay period following the effective date of the retirement.
(H) In the event that the employee share of the pension payment increases due to a change in law or regulation during the term of this agreement the employee shall be responsible for paying the entire increased employee share.
(I) Employees who are promoted to positions in this bargaining unit and who were hired or reinstated after January 1, 2009 shall be required to pay the entire employee share of their pension, and furthermore shall not receive the lump sum payments contained in this section.
(J) Employees are prohibited from receiving the payments specified in paragraph (C) directly instead of having them paid by the City to the pension plan.