(A) The City will continue to participate in the Police and Firemen's Disability and Pension Fund as provided in the Ohio Revised Code.
(B) The City will implement a pension "pick-up" plan in accordance with Internal Revenue Service regulations and Ohio Attorney General opinions, whereby State and Federal Income Taxes on employee pension contributions by all bargaining members may be deferred.
(C) Effective with the second full pay period of April 2012 the City will pay zero percent (0%) of the employee's pension contribution, and the employee shall be responsible for the remaining percentage (employee payment increased from 0% to 10%).
(D) By April 30, 2012 the employees whose pension pick-up has been reduced pursuant to sub-section (C) of this article will receive a separate lump sum check in the amount of one thousand five hundred dollars ($1,500).
(E) During the month of March, 2013, and in consideration for the employees whose pension pickup was eliminated in April of 2012, each employee whose pension pickup was eliminated will receive a separate lump sum check in the amount of one thousand dollars ($1,000).
(F) During the month of March, 2014, and in consideration for the employees whose pension pickup was eliminated in April of 2012, each employee whose pension pickup was eliminated will receive a separate lump sum check in the amount of one thousand dollars ($1,000).
(G) In the event the employee share of the pension contribution increases due to a change in law or regulation during the term of this agreement, the employee shall be responsible for paying the entire increase in the employee share.
(H) Employees are prohibited from receiving the pension pickup payments specified in sub-section (C) of this article directly instead of having them paid by the City to the pension plan.
(I) Police officers hired after January 1, 2009 will be required to pay the entire employee contribution to the Police and Firemen's Disability and Pension Fund and shall not be eligible for the lump sum payments prescribed in this section.
(J) Effective the second full pay period of April 2012, and pursuant to sub-section (C), the parties agree and understand that the City's pension pick-up plan referred to in this article will terminate, and the City will no longer implement or participate in any pension pick-up plan.