(a) The City shall continue to participate in the Public Employees Retirement System of Ohio 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 the Judges, Clerk of Court, and all Court employees may be deferred.
(c) Effective with the first full pay period of January 2013, the City will pay five percent (5.0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 1.5% to 5.0%). In the first full pay period of January, 2013, those employees receiving a reduction in pension pickup will receive a separate one time lump sum payment in the amount of six hundred and twenty-six dollars ($626). In the first full pay period of July, 2013, those employees receiving a reduction in pension pickup will receive a separate one time lump sum payment in the amount of six hundred and twenty four dollars ($624). Those employees unaffected by the pension pickup reduction are not eligible to receive the lump sum payments. Those permanent employees who are less than full-time employees who are affected by the pension pick-up reduction specified in paragraphs (c) through (e) will receive lump sum payments calculated on a pro-rata basis that is based upon actual hours worked during the previous calendar year.
(d) Effective with the first full pay period of March 2013, the City will pay two percent (2.0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 5.0% to 8.0%).
(e) Effective with the first full pay period of March 2014, the City will pay zero percent (0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 8.0% to 10%).
(f) In the event that the employee share of the pension payment increases due to a change in law or regulation, the employee shall be responsible for paying the entire amount of the increased employee contribution.
(g) Employees who were hired or reinstated after January 1, 2012, shall be required to pay the entire employee share of their pension and, furthermore, shall not receive any lump sum payments contained in this section.
(h) Except for the one time lump sum payments to those affected employees whose PERS pick-up is being reduced, employees who are eligible to have the City pick up a percentage of their employee share of pension are prohibited from receiving the payment specified in paragraphs (c) through (e) directly. The payments will be to each employee's individual P.E.R.S. account.
(i) Effective the first full pay period of March 2014, and pursuant to paragraph (e), the city's pension pick-up referred to in this article will terminate, and the City will no longer implement or participate in any pension pick-up plan.